Information technology often denoted as ‘IT’ is the management of information by the use of computers. It entails the application of computer technology in business arena. It is an automated process that has replaced the old mutual method of handling information in an organization. It enables businesses to electronically collect, store and process various data to generate reports that they use to run their day -to -day activities. IT is nowadays becoming a vital feature in all business spheres. It has impacted on all the workers at every level, from the top management to the middle management up to the receptions. Generally, Information technology has impacted many organizations in a great manner. It is enormously influencing how business offices are designed which in turn impacts on how, where and when work should be done (Wallace par.2).
Information Technology has enhanced the way in which businesses are transacted these days. It has enabled electronic sharing of information through networks which has allowed people behave as if they are in a global village. IT technology has made it easier for people from Africa and Asia to buy software in real time from Europe. Similarly, Europeans are also able to use the same technology to buy products from either African or Asian countries. This model is referred as e commerce and exists as B2B, B2C or C2C models (king Par.3).
Information Technology has also enhanced the authenticity and efficiency in how business is conducted. The software that are used to collect and process the data are very accurate and the reports that they generate reflects the reality of the data inputted. The reports that are produced when mutual methods are employed are prone to many errors which occur, either when inputting or calculating the various variables that are required to produce the reports. Information Technology allows electronic storage of data which is often well secured through encryption method to avoid illegal manipulation (King par, 7).
Oticon is a Danish company that specializes in developing various hearing solutions which has enable it expand and open subsidiaries branches in other places such as US, China and other European countries. The existence of its many subsidiary companies had acted as a big challenge in its financial management. Its financial section was comprised of desperate systems and data sources that were characterized by redundant, inconsistency and inaccuracy of information. This promoted the company to keep on switching between excel and other solutions. The management realized that their solution relied on establishing an integrated system that will enable consolidation, budgeting and forecasting to be carried out by a unified financial model. They opted to use a financial management model from Microsoft Corporation. They choose Microsoft Corporation because of its efficiency and the availability of other Microsoft programs such as excel and Microsoft word 2007, that were being predicted that they would be synchronized with the anticipated model. The workforce was happy with the proposed model that was to use office perfomancepoint server 2007. This being an integrated performance management application comprised of a complete capabilities that ensured financial planning, consolidation, budgeting and prediction. In addition, it enabled the financial administers to use 2007 Microsoft offices systems such as excel, word, PowerPoint and others (Hilton 3-5).
Given a chance, it can be a good opportunity to work in Oticon. This is because Oticon has a management that is willing to invest in the current technology that keeps its workforce technologically updated and also ensures that they work in a lesser stressful environment. The introduction of the new financial Microsoft model that eradicates duplication of tasks, and one that guarantees accuracy is a good example of a management team that is committed to good working conditions for its workforce (Oticon 4).
The initiative that I can recommend to Oticon management team is to incorporate a portal in their system. The portal will act as a self service feature that will allow its workforce access certain human resource files. Through this system, the employees will be in a position to update their personal details such as contacts, CV and others. Similarly, they will be in a position to review their past payrolls and also update their bank details when they relocate to foreign places. This feature will also facilitate the employees to access various educational materials that they can use to upgrade their skills. Lastly, the feature will enable the employees to easily submit their leave request to the human resource management. This will act as a good motivator for its workforce (Valadez par. 6).
Opticon should also ensure that they invest greatly in their technology so that to enhance their e commerce. This will be a very important move as it will reduce their need to open new offices in other places. They will be able to market and sell their products from their main head quarter globally over the internet. This will allow them to save a lot of resources that are associated with running other offices. This is a good strategy since the existence of e commerce allows even some businesses to operate successfully with virtual offices. Moreover, investing more in IT will promote greater collaboration within the team through enhanced communication.
Hilton. “Oticon Hears the Value of Performance Management with Microsoft Office PerformancePoint Server”. 2008. Web.
King, William. “Role of Information Technology in Growth of Business”. Ezine Articcles. 2008. Web.
Wallace, Mary. “Complexity of New Office Designs: Thinking Through Your Future Workplace”. Wallace Research Group. 2000. Web.
Valadez , Brenda. “Self Service Portal for Your Employees”. Using Web Based Applications. 2008.Web.