it has caused an explosion in commerce and trade; many traditional business models and concepts were revolutionized. so, all of us wondered How Does Information Technology Affect Business?!
Technology has just about changed every aspect of business in a big way and this has never happened this fast before in history. To be more specific, here are a few ways in which information technology has affected business:
In the business world, communication plays an important role in maintaining the relationship between employees, suppliers, and customers. Therefore, the use of IT we can simplify the way to communicate through e-mail, video chat rooms or social networking site.
IT applications can save time in the retrieval of information from a database or website. Rapid searches can be carried out by simply cueing in a keyword such as the name of a customer or a component.
Another way that time can be saved is in the rapid duplication of information. For example, an e-mail can be sent to all of the relevant members of an organization simply by creating a pre-prepared mailing list for all communications of a certain type.
3- Customer Relationship improvement
Companies are using IT to improving the way of design and manage
If a customer makes a call to
4- Management Information Systems
Information data is very important for an organization and a valuable resource requirement for the safe and effective care, that enable the company to track sales data, expenditure and productivity as well as information to track profits from time to time, maximizing return on investment and recognize areas of improvement.
Most businesses of the modern era are subject to security threats and vandalism. Technology can be used to protect financial data, confidential executive decisions and other proprietary information that leads to competitive advantages. Simply put, technology helps businesses keep their ideas away from their competition. By having computers with passwords, a business can ensure none of its forthcoming projects will be copied by the competition.
6- Efficiency of operations
Technology also helps a business understand its cash flow needs and preserve precious resources such as time and physical space. Warehouse inventory technologies let business owners understand how best to manage the storage costs of holding a product. With proper technology in place, executives can save time and money by holding meetings over the Internet instead of at corporate headquarters.