Digitalization refers to the use of digital technologies to transform and automate business processes. The adoption of digitalization has played a significant role in business growth. It has revolutionized the way companies operate and engage with customers, employees, and other stakeholders. In this article, we will explore the role of digitalization in business growth and how it has transformed traditional business models. Digitalization and Business Growth Digitalization has played a vital role in business growth by enabling companies to automate processes, streamline operations, and reduce costs. One of the key benefits of digitalization is that it has enabled businesses to reach a broader audience by using digital channels such as social media, search engines, and online marketplaces. This has allowed businesses to tap into new markets and expand their customer base, resulting in increased sales and revenue. Another significant benefit of digitalization is that it has enabled businesses to improve Continue reading
Business Information Systems
Case Study: Siebel’s Solution for Tata Motors
TATA Motors is India’s foremost, and the only fully integrated automobile manufacturer. Established in 1945 as TATA Engineering & Locomotive Company (TELCO), to manufacture locomotives and other engineering products, the company is today among the world’s top 10 producers of commercial vehicles. TATA Motors was also previously known as TATA Engineering. It is today one of the biggest and most prominent companies in the TATA group, with an annual revenue of $1.8 billion in 2001-02. Today TATA motors’ vehicles run in more than 70 countries. TATA Motors use a manual dealer management system, where every dealer managed details. With legacy-based systems, the environment produced inconsistent data, making interpretations difficult and resulting in inefficient planning for capacity and spare parts. The basic challenge was to provide a Dealer Management System (DMS) solution. All in all, TATA Motors required a standardized solution that would provide them with: Increase in sales and profitability Continue reading
Electronic Data Interchange (EDI)
Concept of Electronic Data Interchange (EDI) Traditionally, the transfer of data from one company to another has been by paper documents. This is known as a paper-based system. These documents have to be manually forwarded and entered to the destination computer. Electronic Data Interchange (EDI) is the electronic exchange of standard business information, in standard formats, between computers. EDI eliminates the need for a paper-based system by providing an electronic link between companies. This reduces data entry tasks and improves business cycle times. Electronic Data Interchange (EDI) is the electronic transfer of structured business documents in an organization internally among groups of departments or externally with its suppliers, customers and subsidiaries. The documents likely to be used in EDI are invoices, purchase orders, shipping requests, acknowledgements and payments. EDI Continue reading
Introduction to Knowledge Management Systems (KMS)
The aim of every organisation is to achieve its set goals and objectives as well as secure competitive advantage over its competitors. However, these cannot be achieved or actualized if staff or workers act independently and do not share ideas. Today, prominent businesses are becoming more aware that the knowledge of their employees is one of their primary assets. Sometimes organisational decisions cannot be effectively made with information alone; there is need for knowledge application. An effective knowledge management system can give a company the competitive edge it needs to be successful, and, for that reason, knowledge management projects should be high priority. Knowledge Management Systems (KMS) “developed to support and enhance the organizational knowledge processes of knowledge creation, storage, retrieval, transfer, and application (Alavi & Leidner, 2001) This means that for any organisation to be competitive in today’s global world there is need for combination or pooling together of Continue reading
NetSuite ERP Software – True Cloud ERP Platform for Any Business
The main objective of establishing a business organization is to ensure that returns from the venture are maximized. Entrepreneurs must work around the clock for the mobilization of resources and make sure that the business goals are achieved. Various mechanisms are applied to enable the accomplishment of the missions. These encompass the creation of a working environment that is favorable, the adoption of the right technology as well as ensuring that there is the provision of suitable services and products into the market. Any business organization that aims at growing and attain global recognition has to make better consideration of technological trends. Operational data is a requirement for all levels of decision-making in organizations. It is essential because it gives a comprehensive account of any transpiring aspects. The inclusion of technological solutions in the business and running of its operations enable improvement of the anticipated outcomes. Organizations have to establish Continue reading
Case Study: Can DSS Help Master Card Master the Credit Card Business?
Credit (change) cards have been very big business for several decades. In 2001, over $30 trillion in payments for goods and services were charged using credit cards. The cards have made life easier for many people because they do not need to carry large amounts of cash for most purchases. Many people also use the cards as a way to borrow money because they need only pay a small percentage of the amount they owe each month, although they are usually charged very high interest rates for the unpaid balance. The interest goes to the issuing bank, making credit cards a very profitable service for them. However, the credit card industry is intensely competitive, highly fragmented, and growing at a rate of 3 to 4 per year, making those profits difficult to achieve. Visa and MasterCard are associations of banks that issue the credit cards. They market their cards, often Continue reading