Information Technology – Transforming Businesses from the Core

The human race has adopted various means to store, retrieve and communicate information since the pre-historic times. These methods have been crucial in the evolution of mankind from the age of hunting and gathering to the times of nano technology. Coming to 21^st century, thanks to the developments that have taken place in the field of semi-conductor technology and computer science, today it is much easier to store, compute and communicate information than it was before. These processes are much efficient and effective as compared to those that were followed during the 20^th century. The information technology revolution has changed our lives as individuals greatly and the businesses have not been behind in reaping the benefits from these advancements. The following write up tries to provide an overview of how information technology has transformed businesses today.

Internal Operations

Finance, human resource management and accounting form three major administrative units of a business. Information related to these departments is of great importance to the business and the method in which it is documented and processed can have great influence on the growth and sustenance of the business. In the past, information related to accounts and finance was mostly recorded on paper and there was more room for human error. Today small, medium and large businesses have moved from conventional methods to using software programs and applications to help manage finance and human resources of the organization. This has made it easier for companies to record, retrieve and compare data with less error. Use of information technology to manage crucial data, such as financial transactions, has greatly benefited businesses and the fact that the data can be stored and retrieved remotely through cloud computing has increased the reliability of the technique.

Marketing

The advancement in information technology, specifically the internet, has created a new world of opportunities for both small and large businesses. Marketing, which once required more effort and was a pricey deal, has taken it to the digital platform today where a level playing ground is created for small, medium and big players. Today it has almost become a necessity for every business to have a website to present itself to its potential customers online. Through online content, businesses can reach out to millions of audience who can convert to potential customers at a cost which is less compared to any other media. This is one reason why businesses, irrespective of their size, are spending money on digital marketing teams that can help them reach out to potential customers more effectively.

Connecting to Customers

Sales and customer support are two units which play an influential role in enhancing the pleasure of purchasing product/service from a company. Customer support unit powered by information technology,uses software applications through which executives can retrieve data of consumers in real-time and deliver solutions based on previously documented information. With the advent of the internet, there are new platforms through which businesses can connect to consumers and improve their services. Social media channels have helped businesses interact with customers directly and respond to queries and resolve issues. Social media channels and other online platforms have been key in creating brand perception.

Analytics and Business Planning

Software applications that record, compute and analyze data related to sales have helped business heads take important decisions related to their business. The applications have many software programs which have been created to pick and compare/compute data from two time frames accurately and give out key insights which can be crucial in making informed decisions. Powered by information technology tools, business heads can spend less time on computing and more time on creative thinking to come up with innovative ideas that helps the business face challenges more effectively.

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