The information and communication technology has become the way of our life. It prominence in our life in such a way that, it is not possible to deny. It has grown into a global platform for communication. We are leaving in the era of digital system that has really opened the scope for tremendous business opportunities. So some one has rightly said that the modern business is fully information and communication technology driven. The entire concept of ICT is based on providing the right information, to the right people at the right time.
With the penetration of ICT into every sphere, the whole interactions are now fully related to the computer and it's communication. Also with the advent of 21st century, ICT has thrown several challenges before us .These challenges are to be translated into better opportunities for one and all. The main endeavor is to meet those challenges with easy, so as a result the ICT-friendly technical work force is required in the ICT-scenario.
The ICT is one of the fastest growing technologies in the world of e-Business. Basically in the world of software market, India posses an edge as the world 2nd largest pool of scientific and managerial man power.
The ICT plays vital role towards modernizing the business applications.
• Financial planning, forecasting and decision making: - The financial module of most ERP system provides the financial functionalities and analysis supports to thousands of business in many countries. The financial modules are e-financial accounting, e-investment management, e-controlling cost accounting and profitability analysis and e-enterprise controlling.
• Manufacturing: - It enables an enterprise to marry technology with business process to create novel integrated solutions. It includes e- material planning, e-quality management, e-cost management, e-configuration management and so on.
• Human resource management: - It is the process of acquiring, deploying and developing human resource for organizational success. It includes e- personal management, e-organizational management and e-time management .e-job allocation and monitoring.
• Material Management: - An electronic material information and management system can be developed to plan, monitor and control the material section of any large business industry. It includes e-vendor evaluation, e-inventory management and e-invoice verification and material inspection.
• Sales and distributions- It includes various ICT modules like master data management, e-order management, e-warehouse management, e-shipping and billing, e-pricing and sales support and e- foreign Trading.
• Quality management: - It includes computer-aided quality management and computer integrated quality management to achieve the TQM (total quality management). The ICT helps to perform the various quality activities like quality planning, quality inspection, quality walk through and quality control.
So the modern business must salute to ICT due to its drastic progress.
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