Information Technology & Systems

SUMMARY: IT has offered several opportunities as well as posed challenges to the commercial and the government organizations. The development of computer systems has made the processes of data collection, storage, retrieval, and manipulation easier in commercial as well as government organizations.

Commercial organizations have been making use of the ICTs in order to bring out new and innovative products and services and to satisfy their customers. Of late, government organizations too have realized the importance of technology and have started employing it in carrying out their functions.

Information systems help in enhancing the efficiency and goodwill of an organization. They provide a competitive advantage to the organization and help in differentiating it from other similar organizations.

Initially, organizations assessed their performance on a monthly basis. But with the introduction of information systems, there is a demand for an integrated organization in which the various management techniques are combined with the management processes like budgeting, forecasting, reporting, etc. All these developments have paved the way for the development of a concept called corporate performance management.

It is a management discipline that defines the processes, methods, metrics, and systems that are required for managing the performance of the organization. Projects have specific requirements in terms of planning, control, procurement, and delegation of decision-making authority, reporting, and other administrative activities. These needs can be met through specific and dedicated systems and procedures.