Role of Information Technology in Managing Business

Information
technology

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Discuss different of software that could be used in the business..............................................1
Social and ethical issues in the digital world.............................................................................2
Information and Communication Technology (ICT) makes a business more efficient and
effective in responding to customer needs. Discuss the impact of Internet and Intranet on
businesses....................................................................................................................................4
Role of IT in managing business.................................................................................................5
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Technology plays an important role in the success of any business organisation.
Companies are opting latest technology that will help in managing their resources in an effective
and efficient way. It helps the company in doing the work in an efficient manner. Work can be
done with the help of technology in an accurate way. It also helps the company in taking critical
decision and enables the manger to formulate plans that will help in attaining its goals. It aligns
the available resources in such a manner so that they contribute in managing the workforce.
Technology minimises the probability of error and can perform repetitive task. (Chae, H.C., Koh,
C.E. and Park, K.O., 2018) This project report is based on Information Technology software and
how they can be used in various business. In addition to that, it will cover the social and ethical
issues that are becoming more important in digital world. At last it will cover how IT can make
business more efficient and role of IT that helps the manager in managing their business.
MAIN BODY
Discuss different of software that could be used in the business
There are many software tools that are needed in the business management. From
bookkeeping to tools used in the time tracking every small activities needs different types of
software that made business functioning smooths. The types of software that can be used in the
business are discussed below:
 Accounting software- Its an important part of the business operating systems. Choosing
best accounting software that helps business in making business activities more effective
and efficient. This software used to facilitating the monitoring of cash flow, tax filing,
expenditure and essential business data.Han, J.H. and Kim, H.M., 2019)
 Time tracking software- It manages business to engage in its effective time management
by the detailed analysis of the work and the different tasks. Time is proves to be one of the
mos critical aspect of business. By understanding hoe the workers of the business
spending their timing in managing work and by implementation of the software can help
in better management of time.
 Website building Software- The right website can make business image professional
and attractive. So making effective website with the help of the different website building
software makes a business stand apart from their competitors.
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 Payment transaction software- By making payment systems automating and by
streamlining the payment systems will provide huge benefit to the overall workflow of the
business and makes its process easier. Automating payments can greatly reduce the
workload when there is huge amount of work in billing. It can also make refunding
process easier with detailed recording of all the payments so that they saves their business
by any fraudulent activities.(Karanasios, S., 2018)
 Sales and marketing Software- Software that organises business and organises the
activities in the structured manner will gives boost to the affectivity as well as the
profitability. Sales and marketing software increases the efficiency and makes a business
activities better by analysing sales and marketing data. These software apps helps in
providing possible value out of the marketing budget.
 Communication software- Communication software plays an essential role in the
organisation and with the effective and efficient communication both the internally in the
business and the externally maximize the working of the business with the more positive
aspects. Effective use of communication software will allows the business to expand the
horizons of the market and increases the communication between teams and the
management.
 Project management software- The best software in the management of the project can
provide the invaluable helps in the business operation activities. These software gives user
the necessary ability to organise the complex activities and the p[projects in the
organisation. A Professional and well managed plan is more important in providing
customers with the assurance of the project being completed in time and in organised
manner. With the detailed documentation provided by these software will help businesses
in removing problems and make resource management easy.(Lecerf, M. and Omrani, N.,
2020)
Social and ethical issues in the digital world
Although the leaps that modern information technologies are making have been quite
impressive as it has fundamentally changed the way business in conducted in domestic and
international scale, it also has significant social and ethical issues. The utilities which are provided
by digital technologies and modern IT tools is very sophisticated in nature as it has many benefits
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