Information Technology in Citigroup: Applications and Impact

This report provides an overview of Information Technology (IT) within Citigroup, a major financial institution. It discusses various business application software used by the organization, including Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Project Management, Business Process Management, and Productivity software. The report evaluates the importance of ethical and social practices in running the organization, emphasizing the need for privacy, security, trust, and accountability. Furthermore, it assesses the impact of Information and Communication Technology (ICT) on business activities, highlighting improvements in customer satisfaction, manpower management, training, and communication. Finally, the report explores the role of IT in helping managers to manage businesses effectively. Desklib offers similar solved assignments and resources for students.

Topic :Introduction to
information technology

Table of Contents
Introduction......................................................................................................................................3
MAIN BODY ..................................................................................................................................3
Discussion of different business application software's used by organisation:..........................3
Evaluation of the importance of ethical as well as social practices in running organisation:....5
Evaluation of the impact of Information and Communication technology in impacting
business activities :......................................................................................................................7
Discussion of the role of IT in helping managers to manage businesses:...................................9
Conclusion.....................................................................................................................................11
References......................................................................................................................................11

Introduction
Information technology is termed as the process which supports the company in
formulating critical networks for communication purpose as well as assist the firm in storing and
protecting confidential data in the most proper manner. It also enables the creation of database
which supports the workers to combat business issues by taking help of mobiles or computers. In
this digital era, the information technology plays an critical role in efficiently executing the task
of the company. For this present report, Citigroup is taken into consideration. Citigroup is one of
the third largest banking institution of United states in providing financial services and is
headquartered in New York City. The present report will include various kinds of application
software's that can be practised by the firm. In relation to this, the report will include importance
of social as well as ethical issues and will also cover the impact of ICT on responding effectively
to the needs of customers. Moreover, the report will also evaluate the role of IT in supporting the
business to operate efficiently.
MAIN BODY
Discussion of different business application software's used by organisation:
The application software is classified as the computer applications which is especially
formulated in order to support business to execute its crucial task in the most effective and
efficient manner. In context to Citigroup, the firm takes into practice the important application
tools in order to attain the goal of day to day operations of business activities and ensures that
business function is performing in the most appropriate manner. The following are the business
applications used by Citigroup are:
Enterprise Resource Planning Software:
This dynamic software supports the organisation to properly manage and execute day to
day operational activities such as accounting, supply chain operations, marketing activities and
much more (Jung and et.al., 2018).The main aim of ERP software is provide necessary assistance
to management in performing crucial task in the most efficient and cost effective manner. In
relation to this, the ERP system helps the company to minimise the wastage of essential and
limited resources which helped the company to gain competitive position in the financial
industry.

Customer Relationship Management software:
This robust application software support the firm in identifying and assessing the needs
of its customers in the most timely and efficient manner. Along with this, the CRM software aids
company to hold large amount of informations about the customer preferences,needs as well as
their purchasing behaviour from which the company can properly make smart promotion and
marketing activities. Moreover, it helps the company in achieving the greater understanding
about customer behaviour that support the company to build long term relationship with
customers(Müller and Antoni, 2020).
Project management application software:
This type of business software assists the company to properly undertake planning and
arrangement of resource tools in order to effectively predict the right resources required to carry
out project activities. In relation to this, the project management software supports the company
to plan properly budget requirements in order to control future risks and expenses. This aids the
firm to manage its project costings in the most effective manner.
Business process management software:
This business software tool assists the company in combating properly with the business
process related errors, insufficient services as well as communication problems by taking
practice of systematic strategies. This tool supports the firm to enhance its business processes
and functions. Moreover, the motive of business process management software is to ensure
optimization of workflows in the manner that helps the company in accomplishing its business
goals(Srivastava and Panigrahi, 2019).
Productivity software:
This type of application tool helps the company to boost its productivity in order to meet
with targets in the most effective and efficient manner. In relation to it, this business software
supports the firm to adopt best strategies in order to make best database, presentations and many
more. The basic purpose of productivity software is related to proper management of database,
projects as well as checking the time taken for performing business tasks and activities.
Resource management software:
This business software supports company to manage resources of the company in the
smart and most appropriate manner. This tool aids the company in allocating task to employees
as per their ability and according to requirements of the project. It helps the company in ensuring

effective management of multiple projects as well as also takes responsibility that the task is
allocated in the best manner(Rasmussen, 2019).
Time management software:
This type of business software aids the company in managing the time taken by workers
to perform tasks in order to monitor as well as boosting their time management skills. In addition
to it, this software helps the staff members to boost their productivity level and performance
level. Moreover, the time management software assist the company in monitoring the usage of
digital platforms and also provides important knowledge about the time taken by workers while
working in digital applications.
Educational software:
This type of application software supports the company in providing appropriate training
sessions in order to boost competence level of employees. This software helps the firm in
effectively fostering knowledge and skills of workers in order to perform specialised job roles in
the best ability. Moreover, this software also aids the firm in providing updated education of
business processes and strategies to their workers.
Evaluation of the importance of ethical as well as social practices in running organisation:
The role of ethical practises for the business are:
The ethical issues reflects the trust issues as well as insecurity among team members as
well as customers. In context to Citigroup, the ethical practises and decisions is valuable for the
company in order to gain a trust from customers and their employees. The following are the
ethical principles that will support the company to not be in the position which causes trust issues
among team members are:
Design for privacy and security:
This principle helps the company to collect and manage data in the ethical manner. It
supports the company in using the confidential data of customers as well as employees in the
most responsible manner. The management should conduct transparent and integral approach
while collecting data from customers only after their consent. This will allow the company to
achieve a favourable position in the mind of customers(Chui, Vasant and Liu, 2019).
Promote trust:
The data collected should uphold the principle of integrity in order to provide better value
to the consumers of data. The ethical practises in the organisation is crucial because it help the

company to promote trust as well as improves bonding with the customers as well as external
suppliers. The ethical practise will also support the company to attract more customers which can
support the firm in attaining a goodwill in the market.
Beware of bias:
In order to reduce unethical practice it is imperative for the company to remove the
feeling of biasness from their minds. It is necessary that the company should not consider the
behaviour of biasness while interpreting information in their own language and neglecting the
interests of customers. This ethical practise is important as it will support the firm to analyse
their customers in the best and most proper manner(Purnomo, S.H. and Kusnandar, 2019).
Ensuring accountability:
The organisation should maintain proper accountability structure even when adopting
digital technologies such as artificial intelligence and machine learning. The ethical practices
will support the organisation that the digital services are not reducing the importance of
accountability that will help company to meet with their objectives in the most appropriate
manner.
Promoting ethical culture:
The main importance of ethical practices is that it helps the company to boost its ethical
culture as well as values. In relation to this. The ethical practices assist the company to safeguard
their employees against performing any unnecessary risks that can hamper both employees as
well as company. The ethical practises guided the company to create a value to their employees
by achieving honesty as well as fairness in their operations(Forbes and Ahmed, 2020).
The role of social practices are:
In this digital era, this brings a social issues which does not reflects in schools and are
also not considered relevant to it. The access to technology as well as equitable distribution of
technology are the most major issue in this. There are certain inequities regarding accessibility of
new technology skills and knowledge among children that cause the children to deprive from
using new technologies. The households who cannot afford computer than the children does not
practice the use of computer at their own level. It has been seen that in order to provide an access
of technology to all the citizens the federal commerce commission has successfully launched a
discounted cost of telecommunication services.

Evaluation of the impact of Information and Communication technology in impacting business
activities :
The technology advancement in the communication technology helps the firm to open
new ways of communication channels within the business. The ICT has able made the firms to
effectively meet with the demands of customer by analysing their problems in the fastest manner.
In context to Citigroup, the information and communication technology supported the company
to establish an updated communication channels which supported the managers to improve their
interactions with staff members(Tam and et.al., 2018). The following are the points that
represents the positive impact of information and communication technologies on the operations
of Citigroup are:
Boosts customer satisfaction level:
The Information and communication technology supports the company to boost
satisfaction of customers to a significant level. The introduction of Customer Relationship
software has allowed the company to establish better relationship with their customers by timely
providing solution to their grievances. In addition to this, the business communication
technology helps the firm to efficiently identify and resolving the queries of customers by
communicating with them through Emails as well as live chat on real time basis.
More efficient management of manpower and their jobs:
The information and communication technology has also supported the firm to adopt
efficient HR software which helps it to perform planning as well as tracking of manpower
requirements in the most effective manner. In relation to this, the communication technology has
launched HR cloud based solutions which supports the company to perform many HR related
task altogether in the efficient manner. This technology aids the organisation to correctly predict
the number of vacant jobs easily which leads the company to avoid any disruptions in its
operations(Salehan, Kim and Lee, 2018).
Provides ongoing training:
The increased availability of web based technologies has allowed the firm to minimise its
cost related to conducting big seminars or workshops in order to provide them training for their
jobs. In relation to this, the rise of telecommunication software such as Skype has supported the
to carry out their training programs virtually which helps the company to save necessary costs

and time. Moreover, the video conferencing software has allowed the organisation to conduct
training sessions in the most affordable as well as in convenient manner.
Boosts communication between manager and staff members:
The discovery of information and communication technology has supported the firm to
reduce the chances of operational disturbance due to lack of communication channels. The ICT
has allowed the manager to interact with their workers more openly as well as properly due to
enhancing advanced communication channels. In relation to this, the technology has also assisted
staff members of the organisation to approach management during any time in order to ask
solutions to their problems or suggesting their point of view regarding business strategies.
Moreover, this helps the firm to achieve company targets in the effective as well as efficient
manner(Thottoli and Thomas, 2020).
The below are the drawback of ICT are:
Dishonest as well as misguiding information:
The Information and communication technology poses a risk related to receiving
irrelevant and misguiding informations that can negatively impact the performance of company.
Risk of cyber attacks:
The era of upgraded technologies also brings a risk of cyber attacks with it. The cyber
attackers can reach to the confidential information of the company by finding any loopholes in
networking technology.
Managing online course is difficult:
The up-gradation in technology has lead the firm to conduct online training sessions
which is great but sometimes the management of online course is considered as difficult and
complicated.
Discussion of the role of IT in helping managers to manage businesses:
Information technology is defined as the transmission or storage of information that build
communication network for a company. The IT managers provide their technological direction to
an organisation by making business plan, understanding network safety and leading online
operations(Chae Koh and Park, 2018). With reference to Citigroup, an IT manager design and
coordinate ample project such as installing and upgrading of hardware or software,
programming, system design and execution of websites. It plays crucial role in managing
business which are discussed as under:

Improved organisation communication: Information technology assist in improving
communication in organisation through different platforms such as email, conferencing, video
chat, company intranet and internet in broad. In relation to Citigroup, IT allows a concern to
easily hold virtual meetings with staff and client all over the world without wasting time and
money on travel. It also helps employees to share or access necessary information and
collaborate with an organisation. IT enable company to use social media platform to resolve their
concerns more efficiently(Wiyono and et.al., 2019).
More efficient daily operations: The another role of IT is to improve efficiency of
operation so that a company may enable itself to complete its task in time. The companies
mainly use the enterprise software and centralised database(Agarwal and Sambamurthy, 2020).
In context to Citigroup, it uses micro focus, that check real time levels and provide helpful
reports to managers and provide good experience to the customers.
Better customer experience: Information Technology assists a company to provide great
customer experience through improving their services. With reference to Citigroup, customers
are able to interact with an organisation on its website or through social media and custom
instant messaging services. They are able to purchase products and services from the website of a
business concern and increase the possibility for more revenue and growth of the business.
Safeguarding data and information: IT enables a company to protect its data and
prevent it from being compromised. It ensures the protection against the destruction, loss and
misuse of information of the company's data(Bag, et. al., 2020). With reference to Citigroup, IT
manager prevents unauthorised disclosure or employee confidential information and alteration of
company related data with the help of software.
Analyse data: Information Technology assist the company to make strategies for the
business by using various trends and information presented in database. It enables a company to
face the challenges and plan for future growth of a business. In relation to Citigroup, the
customer are able to get the financial services 24/7 through the use of internet. The internet
provide a digital platform to an organisation which assist in promoting their services to the
global market(Ghobakhloo, and Fathi, 2019).
Thus, information technology help Citigroup in achieving the goal of an organisation in
the global market. It helps an entity in decision making and makes communication effective by
safeguarding the information of their customers and employees.

However, there are some challenges which a company has to face while using the
services of information technology that are described as under:
Technology security risk: There are many IT solution which are cloud based system that
provide assistance to a company where the members can work from home, join a online meeting,
access client data easily ans so on. But there is risk in the security because the criminals find
more space in this services for illegal activity. In relation to Citigroup, it has made a security
system to secure its database from being misused by the criminals because there may be chances
of hacking of payment system. The company have to face this problem many times and some
time it ha to pay ransomware to operate again its system.
Spyware and personal information: These problems have become common now a days
where the personal data and information of the customers or employees are stolen. Then, the
information is used by the hacker for fraudulent proposes. The risk of security can be more
when the smartphone of the customers or employees is lost or stolen which contains the access of
the company programmes and informations. With reference to Citigroup, it secures its data so
that it can not be lost or theft. The company has many data regulations because in their every
day bushiness they collect sensitive and private information from their clients and patients which
are needed to be secured. So these policies and regulation help the company to get privacy for
their records(Yang and et.al., 2018).
Conclusion
It has been evaluated that the information technology is crucial for the company in order
to improve the work performance of the company. It was also analysed that information
technology helped the business to attain better control and management of resources of the
company. The report was able to explain about the different types of application software that
helped the business to improve its business functions in the most effective manner. In addition to
this, the report has also covered the impact of social as well as ethical values in supporting
efficient operation. Moreover, the report has also analysed the impact of Information and
communication technology on the management activities of the business. Furthermore, it has
been concluded that Information technology has helped the business managers to manage
business in the most appropriate manner.

References
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