Information Technology is essentially a wide and varied field. In fact, it’s not farfetched to say that Information Technology is practically involved in every aspect of one’s life. So it’s only natural that something as ubiquitous as I.T. plays a major part in business.
But what exactly is the impact of Information Technology on business?
First off, I.T. affects how businesses go about with their usual routine. For instance: the technology allows companies to go paperless, depending only on digital databases to store important data. Many pundits see this as a risk; isn’t digital data flimsy and unreliable, they ask. But the shift offers several benefits as well—including reduction in operational cost, since the business no longer has to buy or rent space or equipment just to store data.
Information Technology also affects the accuracy of business operations. When a company uses a computerized accounting system instead of relying on a real live accountant, they eliminate (or, at the very least, significantly reduce) human error. And because such systems allow for faster operations, the company’s workers can concentrate on more pressing tasks.
Of course, I.T. also allows companies to communicate easily regardless of distance. Several years before advancements in Information Technology, companies rely on messengers and snail mail to relay information to other institutions and individuals. Today, communicating with another party is as easy as a click of a button—thanks to email and internet messaging, among many other similar tools.
These examples illustrate that the impact of information technology on business includes lowered business costs and increase in business productivity.
But the most important impact of Information Technology on business lies on how it has changed the marketplace from geographically-based to global. I.T. permits businesses to take their operations into a worldwide scale thanks to applications that allows them to set up a store online.
Simply put, Information Technology has changed the business landscape due to its wide and varied scope. Of course, these changes are for the better.