How Information Technology Shapes Your Company
Information technology (or IT) is a blanket term for any technology that is concerned with the handling of information – this includes storing information, sending, receiving or exchanging information, creating information, editing information, etc. Information is the most valuable resource for businesses, and IT has enhanced what can be done with it.
We spoke with TechQuarters, who provide small business IT support London-based companies have been using for decades to help shape their organisation in the modern, tech-centric world. TechQuarters outlined for us some of the top ways in which information technology shapes modern businesses.
It governs your operations
It goes without saying that productivity and efficiency are two of the most important outcomes of business operations – operating in a productive and efficient manner means a business can maximise their resources, while lowering overheads. Inefficiency of operations can also have a knock-on effect on the performance of employees – slow or complex processes will disincentivise employees and make the company less productive overall.
So, how does this relate to IT? With technology becoming so intrinsic to the way we do business, how can it not be intimately related? Business operations and processes are more often than not powered by IT systems, software, machinery, and many other technological solutions. This is why a business’ IT needs to be optimized for ease-of-use and productivity.
It influences your business models
Your business model is the key to keeping customers loyal and interested in your products or services. If a business has a poor service model, it will drive away consumers; if a business’ product is outdate or outshined by a similar product that incorporates better and more modern technology, they will fall behind competition.
This is not to say specifically that technology is the key to a good product or service; however, it is true that having a fresh and efficient business model will make a business’ product or services more desirable – and information technology is good at opening up doors to new types of business models.
It can enhance decision-making
Business decision making can be a tricky process, because it can be hard to predict what is going to happen in a market, or among demographics in the near future. However, in the age of technology, so much valuable data is created every day regarding the habits of buyers and audiences, what types of brands, products, and services are most popular, where audiences are getting the most exposure to brands, the list of valuable insights generated from digital data is endless.
Information Technology can help a business access that hard data, and gain insights regarding what their customers want, and what the best way to appeal to them is. This will, in turn, make the process of business decision-making much easier.
It helps you compete
Information technology has always been a somewhat misunderstood field among executive-level leaders. As it requires a very specific type of expertise, it can sometimes be difficult to envision the full scope of IT, and how it can benefit a technology. But with technology becoming more and more embedded in business processes, it is critical for competitive business to develop that scope, and start seeing how they can leverage IT to their advantage.
As mentioned above, IT offers many different advantages, such as being able to make business operations more efficient, and employees more productive. It can also give insights that inform business decision making, and even reveal new business models that will make organisations more favourable with consumers.
It helps you survive in the age of technology
One of the reasons that Information technology has, for a long time, been misunderstood and overlooked by many businesses was because until fairly recently, it was by no means an essential part of business. The tide is rapidly turning however, and many IT experts and business leaders agree that implementing modern IT solutions is in fact a matter of survival for all businesses.
With the digital world becoming more interlinked with the real world – think of the dependence many of us have on social media, online news sites, and all manner of mobile applications – it is becoming more common for many businesses to engage with customers, and do business almost exclusively through digital channels. Therefore, if a business isn’t able to leverage digital solutions, they will suffer, and potentially fail.