IT & Communication

Why is IT and Communication important?

Every business, whether large or small, has information-technology needs. Although the information systems needed by SMBs differ in scope from the needs of larger businesses, some essential functions of doing business require information-management technology.  For instance, having an effective accounting system to accurately keep track of your business finances is a must, unless you rely entirely on a bookkeeper to manage your accounts. Having an online accounting system can help you keep track of your income, expenses, tax liabilities, receivables and other pertinent financial information.

Information systems are also vital in managing inventory. Accounting systems can help you track inventory costs and keep tabs on each item’s profitability, but additional systems are needed to track shipments and ensure the security of stored goods. Payment processing technology also ensures that a business can accept card payments, which have become more common than cash transactions in a number of industries. Accepting card payments requires businesses to have, at minimum, a merchant account with a payment gateway. 

Communication technology is also critical to organisations and individuals. As a small-business owner, access to telephone and internet services will allow you to communicate with customers, suppliers, government agencies, employees, contractors and any other relevant stakeholder, and it lets you maintain a website and web marketing presence for your company. 

So what do I need to manage my IT and Communication effectively?

The main focus of IT and communications management is to keep all information systems operating efficiently. This can often be achieved by incorporating policies, practices, and procedures that are needed to manage the maintenance and usage of hardware, software, and networks — no matter the industry or business environment. It is critical that every organisation has appropriate oversight of its IT systems. 

The following key elements should be considered:

1. IT systems monitoring and employee usage
2. Information management and protection
3. Cyber security risk management
4. IT Security incident response
5. 3rd party supply chain management
6. Business continuity and disaster recovery

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