IMPLEMENTING APPLICATION OF IT IN DIFFERENT FIELDS OF MANAGEMENT

Presented by:

Kiran Burakoti

INTRODUCTION

IT has captured each and every sphere of modern world. Be it be in the field of education ,or banking or any other to name.

Management and business is also using computers and internet technology but they are still not utilizing Information technology at its best.

There are many opportunities in this field if properly exploited.

But many challenges are also associated in implementing IT in business and management.

USE OF INTERNET

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Use of Internet

OPPORTUNITIES

The Information systems play a vital role in decision making and thus in the growth of any organization.

It supports faster communication, coordination, control and visualization.

It helps in reducing the high costs, expanding business globally, standardizing business processes and supporting new strategies for the growth.

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Use of ERP in organizations has increased maintenance cost, operational cost but has contributed in Business process improvement and increased responsiveness.

The performance at managerial level is also improved.

Provision of multi function environment and availability of facilities 24 x7.

Provision of security.

IT IN THE FIELD OF MARKETING AND PRODUCTION

Reduced production cost and shorter product life cycle.

Market risk is reduced as information is instantly available .

Information of latest trends helps in making marketing strategies.

IT IN THE FIELD OF FINANCIAL MANAGEMENT

The use of IT has enabled the business world to manage, collect and organize its data in a better and easy way.

Graphical interface has enabled better use of charts and graphs.

Use of Data Warehouse and Data Mining.

IT IN THE FIELD OF HRM

E -HRM is an application of IT which enables better communication between employee and employers.

IT is changing the way HR department handle record keeping and information sharing.

Payroll Management , managing employee personal data, recruitment, training, strategic orientation is much more convenient now.

Managing workforce with right portfolio of skills and knowledge.

CHALLENGES

If IT provides benefits then there are certain challenges also it has to face

Technical complexities. Server down Program crash Wire glitch Hardware problem, software problem

network problem . Users’ reluctance to move towards new

technologies. Installation cost.

ERP(ENTERPRISE RESOURCE PLANNING)

The ERP system, a business information system that considers all facets of a business, provides an integrated presentation that is needed to educate future managers. It also creates an active-learning environment that uses modern technology. The integration also simulates real employment and addresses educational concerns ERP systems are packaged software applications that connect and manage information flows within and across complex organizations,allowing managers to make decisions based on information that truly reflects the current state of their business.

SAP (SYSTEM APPLICATION AND PRODUCTS IN DATA PROCESSING)

SAP is one of the leading vendors of integrated information systems. It provides integrated information from accounting to manufacturing, and from sales to service. Whenever data is entered in one functional area for one particular transaction, this data is automatically reflected in all the related functional areas. The SAP system supports and integrates thousands of business processes. The core system uses a single database. SAP is module based and supports multiple languages and currencies.

Introducing two new terms. Techno-friendly- its time for people to get

techno friendly and explore the world of IT to get solution to their problem and also to be more efficient and to enhance their performance

E-Management – all the task of management should turn electronic so that management becomes E-Management.

CONCLUSION

The future of business organizations lies in these two technologies (SAP and ERP).

People have to be techno friendly and accept the new technologies

The risk associated with the technologies are very less as compared to the benefits they provide.

It’s the need of time to switch over to new technologies for better performance and better management. i.e switch to E- management.

Thank You