Information about IT World and Business
Technology has become a vital element of business globally. Every business employs IT tools and software for their business. These programs and software help businesses reduce their cost of operations by automating certain of their tasks. They also aid in improving the security and privacy of their data. These programs can also help businesses save money they could have employed additional employees. These businesses can invest money they would have spent hiring additional employees in different areas, like marketing, cyber security and employee revitalization programs.
The role of IT in the future will shift rapidly as digital technology disintermediates several processes within MNEs. They also change their positioning to offer value to their customers by shifting costs and operations away from them and towards complementors, partners, and consumers at home and overseas. This is creating new opportunities and challenges. The challenges include rapid erosion of MNEs’ competitive advantage and the emergence of new risks. The opportunities are greater access to markets, greater influence on the market and faster innovation.
Historically, the relationship between IT and business was antagonistic. When projects failed, both sides blamed the other. This was made worse by the nature of IT projects which were complex and expensive to design. Even with a contract to ensure that the business was aware of the services IT was offering it was difficult to predict exactly what could be wrong. The requirements also changed frequently throughout the development. This gap can be closed through the creation of a new form of collaboration between IT and business that is a partnership.