Objectives, objectives and then some … that is how a modern business is run. If you do not have objectives, then what is the purpose of being in that business, anyway? When it comes to IT, the main question is, what is the business objective of investing in IT for your business? Well, there are more than 5 business objectives as today, IT has become an integral part of doing business. Instead of it being a question of whether you have IT, it is now a question of how much IT you should invest in for your business.
Information Technology came with a mission, vision and multiple objectives, which it has to achieve tremendously throughout its evolution. Can IT add direct value to your business? Well, to best answer that question, ask yourself this: can your business survive without IT? Definitely not. It cannot. If you ignore IT, your business rivals are already investing heavily in it and that is where all the customers are going.
Some of the business objectives of Information Technology include:
Assimilating all the stakeholders into the business
Today, it is easy to interact with everyone in a business, and by everyone, we do not just mean employees, customers and suppliers, but we mean even the stakeholders. Sometimes, we make businesses too customer-centric such that we forget the other very important group of people who have played a big role into bringing the business into being; the stakeholders. On the IT platforms, stakeholders can be brought into the fold easily on the investor websites and blogs that will be managed by the content manager. That way, the investors will never feel left out.
Faster product development
IT makes it easy to gather information about what the customers expect from the companies and is thus able to pass this information along to the production teams. Once a product has been passed for production, the use of the latest design software ensures that the best outcome is achieved. IT has made it easier for new product to get to the market on time. The development of the product has also been made easier by allowing different people to work on different components of the same product simultaneously ensuring a fast job. This is done by use of collaborative technologies.
The good thing is that when you involve IT in the production of the products, the development will be customer-centered meaning that you get to produce what customers need.
Monitoring to reduce wastage of resources
IT can help in monitoring the market by gathering, storing and processing data to find out what product and how much is needed in the market and at what time too. Such important data can then be passed on to the production department so that they do not produce more than the business can sell. This will reduce wastage as only enough will be produced. Such a benefit, combined with the inventory management software will ensure that the business gets maximum value out of its operations.
Instead of building a website where you will just tell people about your products and services, why not ask the IT team to roll out an e-commerce platform where people can get all the information they need about all products and at the same time make a buy online? There is no end to the benefits that a business can enjoy from online selling. For example, fewer personnel are required and there is less documentation needs. This is one of the ways in which IT has revolutionized business.
IT will deploy data collection agents throughout the business network and from the gathered data; they will be able to determine what customers are mostly looking for. They can also tell which segment of the market needs what product. This way, instead of targeting a marketing campaign at everyone, the campaign can be more targeted thus saving resources.
The global reach
If you sell products that you feel can help Africa, Asia, Europe or any other market, well, go ahead and start selling online. Maybe you are in the drop-shipping business, or maybe you have products that you manufacture and would like to sell them in the international market – go ahead. Just talk to IT and you will realize just what of a global market the world has really become.
Another thing that IT has done for business is ensure that you do not have to fly miles just to attend a business conference in the other continent. You can attend the same virtually. Video and web-conferencing save time and money yet at the same time, deliver almost the same results. This effect of globalization has turned local businesses to multinationals.