Technology has an impact in almost all aspects of our lives. The internet has made it very possible for people to get products and services. Almost everything you need may be delivered right to your door step over a very short period. Every information about everything and everybody can be readily available on the internet.
As much as our lives have changed, the business world has also revolutionized a great deal that it is even turning being beyond recognition. Technology has changed the pace of business. Information and communication travels faster thus the world seems smaller as the days pass by. This creates a very big impact on the business world too. Technology has various ways in which it is changing business. These ways include:
The uses of computers has fastened the way that productivity could be ascertained thus enabling the increase of productivity. This gives time for people to do other things. Technology has totally transformed the work place thus improving data processing and also facilitated the storage and transfer of large volumes of data within the organization (Davenport,& Short, 2003). The increased customization of the software and hardware have resulted in shift in the employer-client expectations of work throughput and quality at both the organizational and employee levels.
Apart from technology’s impact on productivity, it also has an impact on the way that the businesses are resourced. For example, technology has made it easy to outsource information and any type of data. It has made it easy to delegate or devolve the aspect of the businesses to their business partners or any third parties. This also enables the organization to remain connected to the in-house information.(Croteau, & Bergeron, 2001).
In some situations, some persons might not be in their offices physically dues to some offsite job activities. Technology gives them a chance to still connect and interact with their clients and fellow workmates. Technology allows for real-time and non-real time connectivity and also allows them to access some workspaces even out of office(Tapscott, & Caston, 1993). There are several tools, for example that can be used to facilitate the connectivity. These include but not limited to; Adobe connect ho, online chat, email etc.
Interaction and participation
The introduction of social media in business has made it easy for interactions between the business people and their clients. Social media offers a platform for marketing and also promotion of their products. Business organizations are also able to have feedback about their products and services and also crowdsources their initiatives (Tapscott, & Caston, 1993).
Increase in competition is pushing many organizations in streamlining their operations. In these trying economic times, most organizations are trying as hard as possible to save on costs. Technology is working on provision of cost-effective technologies such as computing resource outsourcing coupled with the in-housing solutions which also improves productivity, efficiency, and also the performance of the employees hence improvement in the organization (Davenport, & Short, 2003).
There are several business processes that utilize information systems. These process include;
The transaction processes
The transaction processing systems (TPS) manage the data collection, storage, data processing and also the outputting functionalities which will aid in the core operations of the business. The TPS collects data from the Input and generates the outputs which are based on the data that was collected(Tapscott, & Caston, 1993). An example is an online air ticket booking system where the travelers are able to select their seats and pay online. Their tickets are also generated online.
The sales processes
The sales processes also utilize the information systems. The system used is the Business Intelligence Systems (BIS) which provides the analyses that can predict the future sales pattern and also forecast the sales revenues. This system collects data from different departments in an organization and also help the management with the analyses of any breakdown they desire (Croteau, & Bergeron, 2001).
The Knowledge Management Systems (KMS)
This system dissects the knowledge and then share it with other workers in the company or organization. This system enables introduction of innovation, improvement of performance and also retains the knowledge within the organization (Tapscott, & Caston, 1993).
IT makes the company processes to run faster and efficiently. This is because all the data can be stored in one common place and can be shared easily among the employees and their shareholders. IT brings forth different types of technologies which improves the work environment. By use of IT, business people are able to market their products and services easily thus being cost efficient as it is not very necessary to move up and down or to rent a space to showcase their products. IT also reduces the cost of paperwork in the offices thus reduces the cost of buying the hard copy (Croteau, & Bergeron, 2001). This makes it very cost-effective. IT is used in the finance departments in the calculation of the cash and keeping the financial records. This ensures accuracy in data as computers are more accurate compared to humans(Hollander, Denna, & Cherrington, 1999). It minimizes on errors. IT offers a platform for clients to make orders and also express their concerns and complaints. This makes it efficient for the business owners to monitor how they are faring on and make any changes where necessary.
IT is clearly part of our current world. Almost everything depends on IT as it makes work easier and more efficient. Incorporation of IT in any business clearly makes the business more efficient and if utilized well can lead to increase in profits.