Applications of Computer in Business
Uses of Computer in Business
Role of Computers in Business
Applications of Computer in Business/ Uses of Computer in Business
Lets have a look at some important applications of computer in Business.
Computers have become essential business tools. They are used in every aspect of a company’s operations, including product creation, marketing, accounting and administration. Computers have propelled organizations far beyond the era of pen, pencil, and folders stashed in dusty storage compartments. Computers are used in a variety of ways in businesses, from generating reports to connecting with clients. The purpose of computers in organisations is to support crucial aspects of their operations, such as communication, record keeping, decision making, data analysis, and more. Computers are used to improve every area of the modern workplace.
Most business processes now involve the use of computers in following ways:
Companies use computers for both internal and external communications . Businesses now use various method of communication such as email, live chat tools, video or phone conferencing, social networking, web conferencing etc. It save times and also improves the functioning of the organisation. With such advance tools, it also becomes easy for the business to offer customer support to its clients in a timely and efficient manner.
Computers allow a business to do a variety of things, including research about the competition, as well as what its customers want. Businesses can use computers to research industry trends, patents, trademarks, potential clients and competitors via search engines and proprietary databases.
Computers allow a business to perform a variety of tasks. For starters, with the help of the internet, computers help put a business on the map. With a computer, a business’s team of IT developers can create a professional website complete with enticing graphics and content with different forms of media, such as text, images, and videos. They can do search engine optimization – SEO – for the website so that it appears prominently in Google’s search results, which then attracts traffic, which, ultimately, will enable the business to sell those products to website visitors.
With a computer, a business can create and execute entire marketing campaigns that span across every social media platform on the internet. The business can create ads to run on websites and social media platforms, using special software, and it can also buy marketing services from other businesses – all connected to the internet. The computer is likely the greatest marketing device ever built.
4. Data Tracking and Storage
Although paper files containing hard copy documents are still in use, organizations also store and manage their data using software and the cloud. Businesses can store enormous data on computers. That don’t need huge cabinets for storing data now. With computers and server, organisations are capable of storing and sorting billions of files and enable them to access at any time. Digital storage is much larger and more efficient and Secure while comparing with the physical storage as it is more difficult to lose or steal files from a well protected database which is one of the main benefits of the computer.
5. Product Development
In today’s turbulent economy and global market, companies are striving hard to maintain their competitive edge by developing innovative designs. In a world economy of radical change, product innovation has emerged as a key market differentiator across nearly all industries. The emphasis is to create a whole new class of products and emerge as a market leader. Past initiatives aimed solely at product cost, quality, or time to market are no longer sufficient to gain market advantage in today’s highly competitive market. The focus today is on innovation: products that clearly differentiate themselves from others while also being affordable, reliable and fast to market. Most companies consistently launch innovative winning products through a combination of people, process and technology to translate knowledge of customer requirement into variable products. In today’s competitive markets, companies that want to stay in business absolutely must know their customers, develop ideas through sound engineering fundamentals and rely on computer based tools such as CAD, CAE to evaluate and refine designs as quickly and accurately as possible. Advancements in entire spectrum of computer aided design, manufacturing and engineering (CAD/CAM/CAE) tools in particular have automated many design, engineering and analysis tasks to shorten development cycles, mostly as labor savings to minimize overhead costs
6. Human resources
The HR function consists of pursuing existing employee data which traditionally includes personal records, skills, abilities, activities and salary. To reduce the manual workload of these administrative activities, organizations began to electronically automate many of these processes by introducing specialized human resource management systems. HR executives rely on computers to develop and maintain an integrated Human Resource Information System (HRIS). The computers helps in following ways to manage human resource data:
i. It makes an office paperless, i.e. because of these systems, there is now no need for notepads, post-notes or any day-planners.
ii. Increased storage efficiency
iv. Time saving
v. Securing of data
Accounting is a function in which accuracy is of the utmost importance. Today, we cannot imagine accounting without the help of computers. Computers are critical for tasks such as invoicing clients; maintaining data about debtors and creditors; calculating payroll, calculating and filing tax forms, as well as for a lot of other functions. Therefore, accountants undergo special training for learning the essential software of the accounting process. Some of the commonly used accounting softwares are Tally, Cash Manager, Best Books, Busy, etc.
Following are the applications of computers in accounting:
i. Preparation of accounting documents
Computer helps in preparing accounting documents like Cash memo, Bills, and Invoices etc., and preparing accounting vouchers.
ii. Recording of transactions
Everyday business transactions are recorded with the help of computer software. Logical scheme is implied for codification of accounts and transaction. Every account and transaction is assigned a unique code which put that account in a particular group. This process simplifies the work of recording the transactions.
iii. Preparation of Trial Balance and Financial Statements
After recording of transaction, the data is transferred into ledger accounts automatically by the computer. Trial balance is prepared by the computer to check accuracy of the records. With the help of the trial balance the computer can be programmed to prepare Trading and Profit and Loss Account and Balance Sheet.
8. Inventory Management
Computerization has revolutionized inventory management, as technologies ranging from automatic scanners to radio frequency identification chips now allow businesses to track their inventory from the moment a company buys it wholesale to the moment the products leave the building in the hands of a customer. Before the computer, any inventory was noted on paper, which was a difficult task for humans. The right kind of inventory management is the key to success for a startup as well as a well-established company. If your inventory is accurate that can increase the production speed of your business. There are many software available for easy inventory management . Orderhive., Upserve , Zoho Inventory, NetSuite ERP are some examples of inventory management software.
Here is the list of some commonly used Business Softwares
|Xero, QuickBooks, and FreshBooks||Accounting Software|
|WordPress, Squarescpace and Shopify||Website Building Software|
|Paypal, Stripe||Payment Transition Software|
|HubSpot, InfusionSoft and Marketo||Marketing Software|
|OutBrain, AdWords, Bing Ads||Advertising Campaign Software|
|Help Scout, HelpDocs, Olark, Zendesk||Customer Service Software|
|Zoom, Skype, Slack, Troop Messenger, Slack||Communication Software|
|Basecamp, Trello||Project Management Software|
|Google Drive, Office 365, DropBox||Document Management Software|
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# Applications of Computer in Business