The importance of using computer and information technology in business is immense. All kinds of business transactions such as preservation of transactions, settlement of accounts, maintenance of mutual communication etc. can be done effortlessly with the help of technology. Computer or IT (Information Technology) is now required to run a successful business. Below is a discussion of why technology is important in business.
Use OfTechnology In Business:
The use of technology is increasing day by day among the competitors in improving the quality of trade and commerce. Accelerates the progress of trade and commerce through computerized accounting, transaction recording, receipt and delivery of orders, import and export, etc. The following is a discussion of technology in business as well as why technology is important in business:
Calculation Of Preserved Goods:
The sale and purchase of goods of different business organizations and the exact amount of preserved goods can be easily calculated in a short time through computer. As a result, it is possible to protect the stock from excess or less demand. That’s why technology is important in business
Most of the countries in the world have computerized stock exchanges. That is why individuals or executives of an organization are able to know the market price of shares online, even buying and selling shares at home.
Designing Work in Business:
From factories, houses to bridges, ships, rockets etc. Design or construction plans are done with computer. According to the construction plan, the design features are changed with the help of computer.
With the help of various computer software, many businesses are able to calculate their weekly, monthly and annual income and expenditure. That’s why technology is important in business.
Employee Salary Calculation:
Nowadays, daily, weekly, and monthly salary calculation of employees in many organizations can be done easily with computer. After adding and subtracting the various allowances of the employees, the computer calculates the actual salary very quickly. If necessary, this information can be stored in computer memory.
Most of the countries in the world are controlling their banking system through computer. The accounts of the bank customers, the amount of money stored according to the account number, the names, addresses, titles, monthly salary accounts of various employees of the bank are all being controlled through technology.
See Why Technology Is Important In Business:
Almost everyone is aware that technology have played a very important role in the business. Before the advent of computers and relevant technology, business resources were fully utilized. As a result, the time taken to complete a task was high, the quality of work was not in good condition, and the processes also tended to be more complex to perform. However, as computers started to be used in business establishments, the processing of work became more stable. So, see the reason behind “why technology is important in business”
- The use of information technology in business prevents waste.
- Through the application of information technology, globalization, i.e. the scope of business worldwide, is expanding.
- With the application of information technology, any work takes less time than before, which means that a time-saving system can be created through it.
- Immediate communication is possible due to the use of information technology. Phone, fax, internet, email, SMS, MMS etc. are excellent examples.
- With the use of information technology, the availability of any information is easy, especially with the help of technology in the Internet, the world is now available at hand.
- Accelerates the use of information technology, training and related activities.
- Creates a profitable process in business.
- Extensive use and practice of information technology has resulted in gradual increase in efficiency in all fields.
- Global market for products can be created through e-commerce.
- Customers can order the things of their choice and necessities through the internet from the comfort of their home.
- Advertising on popular commercial websites at low cost increases the marketing of the product.
- The use of information technology in industrial establishments reduces the waste of manpower.
- Causes human resource development.
- The use of information technology saves money by reducing the various costs of organizations.
- Information support is available from various government ministries and departments through the introduction of information technology-based e-governance. As a result, corruption is reduced and businesses benefit.
- Job seekers can now apply online at various well-known and expensive organizations around the world.
- Improved customer service can be provided. Full time service can be provided through call center.
- Meetings with executives of remote branches of the organization can be done through video conferencing. As a result, time and money are saved.
- The demand for the products of the organization is understood and quick delivery can be arranged.
- Due to the use of information technology, money transactions can be done while sitting in the organization and bills can be paid.