Technologies are regarded as the “enabler” for business. Along with the recent commoditization of technology – the arena continues to be leveled. Whatever technology, services and products company A can purchase can also be found to company B. So essentially technology ought to be the least significant element of any company and it is therefore not about technology.
Efficiency – Most companies whether small or large use technology to operate their business. From routine business processes like payroll and accounting to stylish marketing and customer interfaces like websites and web 2 . 0. services – it’s all based on a technology infrastructure. Getting a far more efficient technology platform means a far more productive business. Efficient IT systems exhibit characteristics like intuitive and simple to use, engage the consumer and process information effectively. Corporations spend valuable sources to have their IT systems functioning to aid the company. Efficiency in running your IT operations includes a direct effect on business value.
Effectiveness – Maintaining your lights on is essential but ensuring you use energy-efficient bulbs results in effectiveness. Leveraging the technological advances makes your company more lucrative. Customers have choices and without having relevant and updated business practices based on new technology in position for everyone your clients – they’ll go elsewhere.
Integration – The consolidation of companies via mergers/acquisitions and also the proliferation of customer interface channels poses an increasing problem for this departments. The issue is how you can integrate disparate IT systems to ensure that both internal and exterior customers get consistent and accurate information. Integration is neither cheap nor simple but it’s essential if companies wish to complete within the global marketplace.
Innovation – True value is generated when technologies are leveraged to boost the client experience or propose a much better business solution. Consider Walmart’s use of IT methods to streamline their global inventory management systems. Dell’s on-demand PC sales model. Geico’s web-based insurance sales initiative. eBay’s online marketplace. In such cases the thing is technology’s usage like a competitive advantage.