Impact of IT Systems in Solving Business Problems

Business Information
Technology Systems

INTRODUCTION
Information Technology system plays a significant role in business organisation of all
types. Information technology is being used in every department of the organisation including
human resources management marketing management financial management and management
of organisational security and managing manufacturing process of the organisation. This report
contextualize Barclays a British multinational financial service company and also provide
services of investment bank. Barclays headquartered in London and some of the services
provided by the organisation are corporate banking personal banking investment banking and
Wealth Management Services. This report we discuss about impact of Information Technology
system and its contribution in in solving business problems. There are several other functions of
Barclays reserve managed through use of information technology touch is Customer services. In
in Barclays information technology is used to create Store and process data. This report will also
discuss about use of information technology is Managing customer relationship of the
organisation and how the information technology is used for communication and data
management.
MAIN BODY
The impact of IT systems and its contribution to solving business problems
Impact of IT system
IT system is playing important role in solving business problems and this is because of
their capacity to quickly and accurately complete the task which can be done so in manual
process. Present banking organizations are getting very helpful and significant contribution of IT
in the organization (Kemp, 2018). This allows banking organization to give better services to
customers and ensure that they are able to make effective decision with help of data from
different sources. They are also able to maintain their competitive position in the industry by
providing effective services and also making decision on the basis of decisions being made by
the competitors. Use of information technology is very important for effective functioning of the
banking organisation which top use of information technology contributes in increasing
efficiency of the organisation and along with increasing efficiency it is also contribute in high

productivity and effective financial aspect of the organisation. In present business environment
banking organisation cannot operate without information technology system.
Information technology system solves various business problems in the banking sector :
IT system is playing important role in services and operations of the banking
organization and its uses extend to all task and functioning of the organization.
Security of information is a important problem in the financial and bank organization. System of
Information technology can contribute in ensuring that all the information and data of all
customers as well as bank is safe and secure. This is because of extended and effective security
measures provided by information technology in form of password. This ensures that
information and data and accessible by only those who have authority to do so. This requires that
person having knowledge and password and this is only available to those who are authorized to
access the data. This is very helpful for information and data which is of sensitive nature and can
affect operations and their efficiency. Data and information of customer is of such nature and
bank has responsibility to ensure safety and security of such data.
The use of IT systems within different functions of Barclays organization
Draft Issue–Barclays use information tyechnology and its tools to issue drafts for the bank. It
enables Barclays in controlling and maintaining every transaction related to its customers
(Popovič and et.al., 2018).IT system includes every types of drafts such as bill of exchange and
cheques etc. this also help in communicating with other banks in order to complete the work
related to issuing drafts and clearing cheques.
Money Transfer– Information technology has contributed in developing several measures
through which banks and customers of the bank can transfer money from one person to another
and in one account from other.
Investment opportunity – Investment is very important function of the banking organization.
Information Technology enables banks to identify investment opportunity and along with this
detailed information availability also contribute in making effective decision.