(Technology Supporting Business Processes 1) Assignment

(Technology Supporting Business Processes 1) - Assignment Example To begin with, management of business usually requires efficient collection and allocation of information. Through the use of information system this process has been made more efficient. Reason being, it has facilitated speedy transfer of information among different level of management. This has to a great extent minimized costs associated with meetings. Moreover, the information system has enhanced sharing of information amongst employees of an organization; this has been made possible through storing files at a central point accessible to certain employees. Consequently, the business becomes more competitive. (Markgraf & Media, 2010) The management process of a business is usually dependant on the information in hand. Through the use of information systems business can get up to date information about their markets; consumers; and competitors. Consequently, it makes the business to be more efficient and competitive. As an illustration, sales information provides an overview of what consumers are really purchasing. For this reason, business will stock and manufacture products that are in great demand. This minimizes loses making the business profitable. (Markgraf & Media, 2010) Most of the businesses require record keeping. This is usually meant to monitor performance of the business in all its sectors (production, marketing, etc). The information system provides an efficient and cheap platform to do so. As an illustration, a business information system has the ability to store communication and financial records; modification histories; and performance data. The information stored can be useful in a number of ways; for instance: estimating costs and analyzing performance of a business. (Bocij & Chaffey, 2003) Markgraf, B., & Media, D. (2010). Importance of Information System in an Organization. Retrieved July Thursday, 2014, from Chron: