Why Information Technology Holds an Indispensable Importance in Business
Information Technology has become such an integral part of modern business that in the absence of a proper IT infrastructure, the latter would crumble.
Businesses now rely so much on the IT industry, that it is almost impossible to find any industry where technology does not play one part or another. But why has IT gained such an important role in businesses? Read on below to find out.
Innovation is the heart of IT industry, and IT industry is at the heart of most businesses. Advancements in IT industry benefit businesses through improved software and applications, better hardware for superior efficiency, and by serving the needs of customers.
For e.g. shopping used to be a hassle previously, however, now customers can buy their entire month’s groceries through their cell phones, all the while sitting in the comfort of their homes. This not only benefits customers but businesses as well, as they gain more customers.
2) Cost savings
One of the major benefits IT has provided to businesses is of cost saving. Companies are able to save a huge chunk of their marketing budget through social media marketing, which not only costs less but is easier to manage and is often more effective than traditional marketing.
Similarly, routine and monotonous jobs have now been automated, thus reducing the workforce and cutting down on wage expenses. This directly increases the productivity of the company.
3) Improved quality
Providing superior quality goods and services is essential for a business to succeed. Businesses incorporate stringent quality standards to make sure that their products and services are up to mark.
With the implementation of a proper IT structure, a business can keep track of the quality of its product and service, through timely analysis and processing of information and ensure that it matches predefined quality goals.
4) Global Expansion
IT has made it easier for businesses to grow worldwide. By providing instant and inexpensive avenues of communication, companies can get in touch with their offshore suppliers and affiliates at a moment’s notice.
On top of this, any problems or issues which arise in company’s offshore subsidiaries can be easily communicated to the head office, and have its solution prepared and implemented accordingly.
5) Better decision making
In the modern world, it is extremely important for businesses to have the right information at the right time, since it is crucial for businesses’ decision making ability. With the introduction of tools like Google Analytics, it has become easy for companies to gather data regarding their products and customer’s reaction towards them, and make decisions accordingly.
6) Superior resource management
Advances in IT industry have allowed businesses to allocate their resources more efficiently. This provides multifold benefits to the businesses, for e.g. by analyzing the past sales data, a retailer can predict the demand of a certain product in the coming month, and then purchase it accordingly, saving on shelf space and additional warehousing cost.