I.T foundation of Business

Hardly any business today is independent from using IT services. The technological inventions in computer hardware, software applications, internet and wireless connectivity led to business efficiency. Various types of business entities became largely dependent on these technologies for their daily operations.

From simple word processing software to complicated database systems, various types of businesses are relying on information technology to contact with clients and business partners. Main portion of the wealth of many businesses are now in electronic or digital form. Hence, it is not surprising why big companies invest huge amount of money on information technology.

Business infrastructure does not only refer to buildings and physical materials but it also refers to the main systems of a business that is technological infrastructure. Unlike concrete and metal infrastructures, technological infrastructures need to change more frequently.Business entities that are capable of fast technological adaptations are more capable of competing on the global scale.

Information technology is considered as the nervous system of business. This is particularly true for large businesses that have many branches and operations. With the help of computer networks and databases that are updated in real time, the individual restaurant branches of fast food communicate with the inventory chain and thus efficiency can be increased.

Bank accounts, balance sheets, and other information mostly have electronic storage. Majority of these actually exist as purely encrypted information in some computer networks. The payment of fares and utility bill payments can also now be done online through secured servers of banks.  Shopping can also be done through the internet. All of these involve the transfer and recording of information in the form of electronic money. Businesses that have advanced IT systems are likely to be more competitive globally. Paper-less and cash-less transactions are now becoming a trend of global trade.