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Role of ICT in Business

Role of ICT in Business. ICT in a business environment can be used for: Recording data Storing data Retrieving data Manipulating data Communication Used in: Administration – invoices, communication Finance – record transaction, budgets, cash flow, profit and loss

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Role of ICT in Business

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  1. Role of ICT in Business • ICT in a business environment can be used for: • Recording data • Storing data • Retrieving data • Manipulating data • Communication • Used in: • Administration – invoices, communication • Finance – record transaction, budgets, cash flow, profit and loss • Communications – email, instant messages, mobile phones

  2. Software - Spreadsheets Spreadsheets can manipulate data, produce work in rows and columns and formula can be used. Spreadsheets and Budgets: budgets can be set up so that actual figures can be entered. Using formula means that the variance can be calculated automatically. From each budget, a master budget can be produced. Spreadsheets and Cash Flow: helps to monitor the cash within a business. It is easier to perform “what if” situations Spreadsheets and Break-even: can easily change variables to see what impact changes have on the break-even position and units to be sold.

  3. Software – Word Processing • Commonly used for letters, reports and documents • Can import graphs, charts and graphics • Checks spelling and grammar • Easy to edit and format • Good quality presentation • Use of templates • Can use mail merge • Software – Database • Keep customer records • Keep stock records • Can produce a booking system

  4. Internet, Email and E-Commerce • Internet: • Global market place • E-commerce • Market performance • Price comparison sites • E-Mail • Messages can be sent to groups • Quick information transfer rate • Low costs • E-Commerce • Shopping 24/7 • Low overheads • Global markets

  5. How software improves efficiency Speed – quicker processing time so save the business time and money. Also transactions can be processed much quicker. Accuracy – with the use of verification and validation data can be inputted more accurately. This can help with decision making. Data handling – data can be inputted and manipulated anywhere on a network User Friendly – The user does not have to have vast computer knowledge to use most of the programs. Capacity – large quantities of data can be held with using very little physical space.

  6. Specialist Software • Management Information System (MIS) • Is used for decision making by managers • Information is taken from internal and external sources • Accountancy Software (i.e. SAGE) • Used for various accounting needs • Enterprise Resource Planning (ERP) • Helps with various sections of running a business • i.e. product planning

  7. Legal Issues • Data Protection Act • Controls the collection, storage, processing and use of data. • Health and Safety • Time in front of the screen • Repetitive strain injury (RSI) • Confidentiality and security • use of passwords • Anti-virus software • System back up

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