The Indian business world has been undergoing significant changes in recent years, as a result of fierce competition both domestically and from foreign rivals. The traditional systems of licensing that were in place have been lifted, which means that businesses must adapt to the new environment to remain competitive. However, despite the need for change, the use of modern IT resources in Indian business information systems is still in its infancy.
The Current State of IT in Indian Business Information Systems
According to a recent survey, the total value of the top 100 companies in India is estimated at Rs 1,850 crore. However, most of these companies are still using traditional applications such as financial accounting, payroll, inventory accounting, invoicing, etc. Even in the case of financial accounting, a sizeable proportion of these companies are using readymade software packages that offer very little flexibility to the users.
One reason for this lack of progress in the use of modern IT resources is that Indian business was, until recently, under no pressure to transform itself because of the protection given by the government in the form of the licensing system. With the opening up of the economy, however, the Indian business world is feeling the impact of fierce competition, both from domestic and foreign rivals.
As a result, the Indian corporate world is waking up to shake up the dead wood and give a fresh look to the changing business scenario. The use of IT in business information systems is slowly gaining acceptance, but it is still at an embryonic stage.
The Use of Personal and Business Specific Information Systems
The new additions to the list of IT resources include e-mail and desktop productivity tools in personal information systems. Most of these companies have been focusing on the automation of their manual operations, which includes the use of personal information systems. However, the use of business-specific information systems for the management of various business functions is finding acceptance only in a handful of the surveyed companies. Most of these companies are using only first-generation business information systems.
Current Usage of IT Resources in Indian Business Information Systems
|Financial Accounting||Readymade software packages|
|Inventory Accounting||Traditional applications|
|Personal information systems|
|Desktop productivity tools||Personal information systems|
|Business-specific information systems||Only in a handful of companies|
Benefits of Using Modern IT Resources in Business Information System (BIS)
The use of modern IT resources in Indian business information systems has a lot of potential. However, companies need to start realizing this potential and take advantage of it to remain competitive in the market.
There are a number of benefits to using modern IT resources in business information systems, including:
- Increased Efficiency: By automating manual operations, businesses can significantly increase their efficiency. This can lead to cost savings, as well as increased productivity and profitability.
- Better Decision Making: Business-specific information systems can provide businesses with the data and insights they need to make informed decisions. This can help businesses make better decisions, which can lead to increased profitability and growth.
- Improved Customer Service: Modern IT resources can help businesses provide better customer service. This includes the ability to respond quickly to customer inquiries and complaints, as well as providing personalized service that meets the unique needs of individual customers.
- Increased Innovation: The use of modern IT resources can help businesses innovate and develop new products and services. This can help businesses stay ahead of the competition and remain relevant in a rapidly changing market.
To take advantage of these benefits, businesses must start investing in modern IT resources for their business information systems. This includes investing in business-specific information systems, as well as personal information systems such as e-mail and desktop productivity tools.
Constraints of using modern IT resources
While some progress has been made in automating manual operations, the adoption of business-specific information systems is still limited. As competition continues to intensify, Indian businesses must focus on harnessing the full potential of modern IT resources to stay ahead in the game.
In conclusion, the use of modern IT resources in Indian business information systems is still in its infancy. While some progress has been made, the adoption of business-specific information systems is still limited. However, there are many benefits to using modern IT resources in business information systems, including increased efficiency, better decision making, improved customer service, and increased innovation. To remain competitive, Indian businesses must start investing in modern IT