How IT has Transformed
the Businesses
IT is believed to exist since stone ages. At that time the
information technology was restricted to how the communication was done. With
advancement in technologies, the communications and IT has grown to such a
level that now IT is an inseparable part of most of the businesses today.
Initially, the role of IT was restricted
to just the Data management. A faster computing than what can be done manually
was the mere purpose of having an IT support. While the data volumes are
increasing exponentially, the role of IT becomes more crucial to handle this
‘Big Data’ and in addition expands it to enable core business handling. The 4
key contributions of IT in transforming businesses are:
High Productivity:
Today IT not only provides a platform for designing and implementing a process,
but also makes the process the more efficient but enhancing the speed of
execution. The accurate and streamlined processes are pivotal to any business
functioning. A simple example of this can be seen in everyday life when we
purchase stuff, book tickets and make reservations online. The complete
scenario is transforming, which is making these systems more efficient as well
as speedy. 
Accessibility
& connectivity: IT has connected the world. A multinational business
is now-a-days as well connected as is a single office business. IT has made it
easy for businesses to lookout for Customers, which means more business. Businesses
can leverage Internet access technologies, new-generation tools such as wikis
and social media networks to facilitate communication with vendors, business
partners, customers, government regulators and other stakeholders. Communication
is no more a barrier & with increased investment in bandwidth utilization,
it seems to be getting even better. 
Fostering collaboration: IT enables workers to interact and to collaborate
with partners irrespective of geographical boundaries. Cloud computing and
proprietary software give businesses more flexibility in terms of utilizing
talent. The overall collaboration is enhancing streamline workflow management
through Outsourcing and partnerships / tie-ups.
Efficient
Information and Data management: Businesses generate huge reserves of data
and information, daily. Deploying IT software systems such as ERP, management
information systems, data-processing data centers and related information
management technologies can help businesses to manage, leverage and optimize
terabytes of data. Information processing, classification and management are
keys to operational efficiency and decision making for workers, professionals
and top management in an organization.Given these contributions and considering them crucial for any business, how can any firm take advantage of these? Renting provides a wonderful option. They don’t have to worry about purchasing the infrastructure /software nor about selling them back at the end of contract, if not needed. Businesses can now focus on their core task and concentrate more on it, without worrying about the other hassles. Businesses especially Software firms are getting more flexible in terms of picking up short term, high investment contracts.
Firms across the globe are realizing these benefits and
moving to IT enabling. Not only IT provides a robust and long-term
transformation, but also in economic slowdown, IT transform can help the
businesses to cope-up. The trend surely shows how the further enhancements will
push better transformation of the businesses. IT has changed the way business
is done, and it will keep fostering better transformations.
Nice article Vishal.
ReplyDeleteEvery entity in this universe has a cons "part" of it. It would be encouraging if you include those factors as well that will help companies to take care during implementation.
That's a great suggestion. I will work on it and publish it soon. Thanks.
ReplyDeleteTalking about the cons part, I would rather like to put it as areas where companies need to be watchful. Some of the main areas are:
DeleteNetwork Security: With all confidential data & information floating around in the net, Cybersecurity is something which needs a high attention. Even if it means an extra amount of investment, its worth.
Data Security: IT increases the reliance on employees. Strict measures need to be taken to make sure that proprietary and confidential data neither goes out this way.
Coding complexities: Although IT increases the productivity to a great extent, in some cases, the code behaves so weird that it may stuck a processing for a long time. It is said in the coding world, no code is bug free. Partnering with talented and capable firms is key to resolving these complexities.
Level of IT engagement: A firm or business must decide whether to engage a multinational (or a local) vendor or take the burden to itself, according to its scale of operations. Many IT players are offering solutions and there is no end to how much a service (or pack of services) can offer to benefit a firm. However, approaching these firms, one should think about what is needed, instead of what is offered. A local apparel shopkeeper's IT needs will definitely vary from that of a law or Market research firm.
These are some areas to remain watchful for. Benefits surely by far outweigh these. However, no harm in being informed and warned. There are more areas and I will definitely let u know as I come across more.
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ReplyDeleteGood post.
ReplyDeleteIn fact, i would like to add that the IT is not only part of the facilitation now. Many companies are seeing it as a necessary component of growth Strategy. Earlier the the Strategy road-map used to be designed and post that IT was seen as a tool to make implementations and execution suitable. But now, IT is seen as an integral part of core business strategy along with other business functions like Sales and Production. And this is happening with non-IT businesses as well.
Very True
Delete