There are indeed no doubt that majority of organization including banks have taking the advantage of information technology to enhance their operation. Information technology has been a very vital and integral part of every business plan. From multinational cooperation who maintain formal system and data base to small business that owns a single computer, information technology plays a role. The reason for the omnipresence use of computer technology in business can best be determined by looking at how it is being used across the business world.
For many companies, email is the principle of communication between employee, suppliers and customers. Email was one of the drovers of the internet, providing a simple and inexpensive means of communication tools have also evolved, allowing staff to communicate using line chart system, online meeting tools and video conferencing system. Voice over internet protocol (VOIP) telephones and smart phones offer even a high tech ways for employee to communicate.
When it comes to managing inventory, organization need to maintain enough stock to meet demand without investing in more than they acquire inventory management system track the quantity of each item, a company maintains triggering an order of additional stock when quantities fall below a predetermined amount. These system are best used when the inventory management system in connected to the point of scale (pos) system. The pos system ensures that each time an item is sold, one of those items is removed from the inventory count, creating a closed information loop between all departments.
The days of large file rooms, rows of filing cabinets and the mewling of document is fading fast. Today, most companies store digital versions of documents become instantly available to everyone in the company regardless of their geographical location. Companies are able to store and maintain a tremendous amount of historical data economically, and employees benefit from immediate access to the document they need.
Storing data is only a benefit if data can be used effectively. Progressive companies use that data as part of their strategic planning process as well as the tactical execution of that strategy. Management of information system enables companies to track sales data, expenses and productivity level. The information can be used to track profitability over time, maximize return on investment and identity areas of improvement. Managers can track sales on a daily basis allowing them to immediately react to low than expected numbers by boosting employee productivity or reducing the cost of all items.
Customer relationship management
Banks are using information technology to improve the way they design and manage customer relationships. Customer relationship management (CRM) systems capture every interaction a company has with a customer, so that a more enriching experience is possible. If a customer call contend with an issue, the customer support representative will be able to see what the customer has purchased view shipping information call up the training manual, for the item and effectively respond to the issue. The entire interaction is stored in the customer calls again. The customer has a better, more focused experience and the company benefits from important productivity.