The Increasing Value of Information Technology Free Essays

Information technology is any field that involves computer technology. This includes hardware maintenance, software development, networking solutions and technical support. Modern businesses all over the world rely on computers to function and maintain high standards of efficiency and customer service. We will write a custom essay sample on The Increasing Value of Information Technology or any similar topic only for you Order Now Without IT professionals, companies would not have qualified professionals to help maintain the technological elements inherent to their daily business needs. Why does I. T needed on Business? Speed Nowadays what the businesses need is the sheer speed at which computers and related technologies can process information. Email is a perfect example, as it eliminates the need to wait several days for a packet of documents to reach a client or business associate. IT can speed up the time it takes new products to reach the market. Computer-assisted design and manufacturing software speed up decision making. From innovations in microprocessors to efficient drug delivery systems, information technology helps businesses respond quickly to changing customer requirements. Efficiency Increased speed often leads to increased efficiency. While eliminating the need to wait for packages or sensitive materials to arrive, businesses are able to receive and respond to changes instantly. This improved response time almost guarantees a higher chance at eliminating potential issues by allowing businesses to react quickly. * Multi-Tasking Another business advantage of information technologies is the ability of computers to perform multiple tasks simultaneously. Provided the hardware is ble to support it, the operator may have several different programs functioning at the same time. For example you have a client and you are making conversation with him/ her but at the same time you need to complete the financial report of the company. With the help of I. T. you may chat with your client at the same time you use the excel for the fast computation. * Low Cost IT allows companies to reduce transaction and implementation costs. For example, the cost of a desktop computer today is a fraction of what it was in the early 1980s, and yet the computers are considerably more powerful. IT-based productivity solutions, from word processing to email, have allowed companies to save on the costs of duplication and postage, while maintaining and improving product quality and customer service. Uses of I. T in Business Online Advertising One of the main advantages of information technology is the ability for companies throughout many different industries to advertise their products and services via the Internet An example of this is Facebook advertising, as of now many sellers are using this social networking site to post their adds and some of them started their business in facebook . Money Transfer Online shopping, bill payments and funds transfers are also key examples of how businesses utilize information technology. By allowing consumers to access products and services from any computer, whether at work or at home, companies have made it easier than ever for people to move money. For example; nowadays in business transferring money is not a problem anymore because of I. T with just one click in Mozilla or in Google chrome you can search any online money transfer, unlike few centuries ago you still need to go to the nearest money gram. Communication One of the most powerful business tools that technology was provided is the ability to communicate worldwide almost without restrictions. E-mail and web cameras have greatly increased the efficiency of conference calls by allowing meetings to be conducted internationally. For example; cellular phones and laptops are the most useful things that were created by the I. T. with the help of cellular phones you can call any business partner you need to make an important conversation, anytime and aywhere. Portability The development of laptop computers and cellular phones have allowed anyone to work from anywhere. As technology enables us to make powerful computers smaller, we become free to travel or even exercise while still monitoring our businesses. Data Storage Every business had to maintain enormous stockpiles of paper documents, technology has enables the modern business to minimize the amount of files they must warehouse. The first rule of Information Technology management is that one copy of business data is never enough; you have to secure your business data by backing it up. An example of this is the portable flash drives. With just one click you have double copy of your file. Ihat t give us not just hard copy but also soft copies. How to cite The Increasing Value of Information Technology, Papers