Importance of Computer in Management

Planning

In order to be competitive, mega corporations, large-workforce organizations and even small and medium businesses need to do long range corporate planning in a systematic manner. Such organization development initiatives encompass human resources development, finance and budget allocation, procurement and supply chain, sales and marketing, research and development. Automated business processes, advanced computer systems and allied software applications provide companies with reports, tools and practices to address strategic objectives and the techniques and methods to achieve organizational goals.

Communication

Computer networks connected over an intranet-based system or Web-based environment can communicate with one another. In modern businesses, business owners and enterprise decision makers need employees to communicate instantly with each other, collaborate and share files, information and relevant documents quickly in order to execute work-related tasks and pursuits. Use of e-mail systems, instant messaging tools and more recently social networking applications has also enhanced swifter communication with business partners, customers, suppliers and other key external stakeholders.

Transactions Management

Organizations and businesses perform thousands of transactions at varied customer and business partner –facing interfaces. Purchase managers, inventory system professionals and accounts and financial personnel need to keep track of invoices, purchase orders, payment gateways on organization websites and all transactions at the operational level. Computer systems integrate varied transaction processes and activities and facilitate real-time tracking of transactions. IT applications speed the process of transaction activities and help in calculations, generation of accurate summaries and reports.

Decision Making

In contemporary businesses, gigabytes and masses of data and information is generated on a daily basis. Computers, IT systems and allied software programs help companies to classify, arrange, systematize and analyze information. Use of CRM solutions, Enterprise Resource Planning (ERP) systems Management Information Systems (MIS) and database systems enable companies to operationally manage business processes and functional areas. Market intelligence, sales reports and customer insights generated from such systems aid business managers, top management and project heads in important decision making processes.

Improve Productivity

One of the primary purposes of deploying large-scale computer systems, software, networking and IT tools is to gain productivity on all levels in an organization. All departments, manufacturing and production facilities and offshore centers should be able to leverage the capabilities and of modern IT systems and technologies and function more effectively and efficiently. Used strategically, computers streamline employee workflows, operational activities and functional processes, ensure better control in business management and impact the bottom-line.

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Use of computers in Banks

For the customer:-: 

For the customer:- Self-inquiry facility: Facility for logging into specified self-inquiry terminals at the branch to inquire and view the transactions in the account. Remote banking: Remote terminals at the customer site connected to the respective branch through a modem, enabling the customer to make inquiries regarding his accounts, on-line, without having to move from his office. Anytime banking- Anywhere banking: Networking of computerized branches inter-city and intra-city, will permit customers of these branches, when interconnected, to transact from any of these branches Telebanking: A 24-hour service through which inquiries regarding balances and transactions in the account can be made over the phone. 

For the bank:-: 

For the bank:- Availability of a wide range of inquiry facilities, assisting the bank in business development and follow-up. Immediate replies to customer queries without reference to ledger-keeper as terminals are provided to Managers and Chief Managers. Automatic and prompt carrying out of standing instructions on due date and generation of reports. Generation of various MIS reports and periodical returns on due dates. Fast and up-to-date information transfer enabling speedier decisions, by interconnecting computerized branches and controlling offices. 

For the employees:-: 

For the employees:- Accurate computing of cumbersome and time-consuming jobs such as balancing and interest calculations on due dates. Automatic printing of covering schedules, deposit receipts, pass book / pass sheet, freeing the staff from performing these time-consuming jobs, and enabling them to give more attention to the needs of the customer. Signature retrieval facility, assisting in verification of transactions, sitting at their own terminal. Avoidance of duplication of entries due to existence of single-point data entry.

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Uses of Computers in Office

Computers are an essential part of office management. Sophisticated software may even reduce the need for some specialized staff,) lowering the cost of doing business. Anyone who wishes to work in an office should be familiar with a variety of computer applications.

Finances

• The bottom line is the most important part of a business. Computers can help managers keep track of the financial status of the company on a yearly, monthly or even day-to-day basis. Spreadsheet software is commonly used to track expenditures, sales, profit and losses. Accounting software provides a business with even more assistance with financial matters, as it is used to do payroll, invoice customers, prepare taxes and execute other essential functions. Companies can use their computers to print checks for payroll and expenditures, and can form a direct link to the company's bank account.

Data

• Successful businesses keep track of data about customers, products, demographics and other information important to the business. Employees can use computers to analyze this data using database management software. The computer software can analyze selected data quickly, making it much easier to create business reports than in the past. Computers can help a business stay in contact with its customers as well. Employees can enter a customer's name, address, email address and phone number into a database or spreadsheet so that new customers can be added to promotional mailings or notified of special events.
  Computers can be used to generate data, as well. Employees can use the Internet to find current information that the company needs to operate efficiently.

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Uses of Computers in Scientific Research

Computers have changed the ways in which scientific research is compiled and analyzed. Scientists, engineers and researchers alike are able to compile vast amounts of data and leave it to the computer to work through the data while focusing on another area of the research project. This creates research results with fewer errors and better-engineered products.

Complex Data Analysis

Computers used in scientific research have the ability to analyze data in ways and at speeds not possible with the human eye. They are able to analyze percentages of materials present in a variety of compounds from soil samples to chemicals and even the air you breathe. Additionally, computers used in this manner can determine trends in data samples. For example, computer analysis of data in research could determine the temperature at which certain chemical compounds break down or the percentages of improvement patients show when administered a certain medication.

Solving Mathematical Equations

Scientific research often requires that complex mathematical equations be solved in order to determine if data is valid or if a certain structure of molecules will remain stable. Computers are integral to this calculation process since scientists can write software programs specifically to provide answers to such questions. This removes the element of human error, which can cost research institutions millions of dollars in fixing a product that was created with even the smallest amount of flawed data.

Prediction Modeling

Scientists and researchers are able to use computer programs to model how data might manifest itself in the future. This ability is useful in predicting climate patterns, simulating how engineered products might perform in the field, predicting the erosion rate of beaches and anticipating the absorption rate of medications in the body. Scientists and engineers are then able to adjust building strategies or chemical compositions of products to ensure safe operation and consumption.

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Computers in the Medical Office

There are various uses of computer in medical field as it plays a vital role in every medical office. It contributes a lot to the hospital administration where all the administrative processes are computerized. For example, staff records, recording incoming and outgoing time of the staff, the holiday records of the staff, etc. It is difficult to keep track of such things manually but with the help of computers, the task is simplified and is less time-consuming.

In most of the offices, accounting is also computerized that helps you keep the daily record of the financial transactions of the office. It also reduces the chances of money related frauds as all the data is stored properly that can be used for future reference. Computer also helps in recording the names and contact details of the doctors and associated people. It is useful when it comes to recording the medical history of the patient, such as, previous treatments, tests, diagnosis, and symptoms, etc. Such information comes handy for the doctor in case of emergencies and when a new treatment is to be designed.

The patients can also avail to computer counseling with the help of computers. Today, the bills are computer generated and hence, the chances of miscalculation are less. Apart from this, to avail the online transaction facilities computer is essential.

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Computers in Accounting

Most firms will make some use of a computer within accounting at some point. Some firms will have all their accounting performed by computers. What we need to understand is how the computer can be used.

Spreadsheets

A computer-generated spreadsheet is commonly used by firms when presenting their accounts. A simple spreadsheet will appear as a grid to which both numbers and text can be inserted. Each 'cell' of the spreadsheet can be used to insert data. A typical spreadsheet will appear as follows:

	2000	2001	2002	2003
	£	£	£	£
Sales	25,000	27,500	29,750	32,000
Cost of goods sold	13,000	14,500	16,900	17,500
Gross profit	12,000	13,000	12,850	14,500

One of the attractions of using a spreadsheet is that the calculations can be done by the computer. Some data, such as sales and cost of goods sold would need to be manually typed in, but then the gross profit can be automatically calculated by inserting a formulae into the relevant 'cell' which states how the profit is to be calculated, Once inserted then the formulae can apply to the whole row (or whole column) which makes the process both easier and more less likely to be inaccurate.

Obviously the example above is a fairly limited illustration of how spreadsheets can be used but for many small firms, the use of a spreadsheet is the main way in which computers are integrated into the work of the accountant.

Accounting software

There are accounting software packages then can be purchased by a firm that will perform many, if not all of the tasks that would normally be manually entered by the person responsible for the firm's accounts. These packages will be able to produce many of the accounting records that were previously produced by hand. Transactions may be entered into the computer package and many will produce the double entry records based on this one entry. Although the exact capabilities of each package will vary, it is possible that most, if not all of these packages will be able to produce invoices for purchases and sales. They calculate VAT returns, discounts and all the other areas of the accounting information system. Logically, these packages will also produce the final accounts for the business when required.

For larger firms this software can actually be tailor-made for the firm's own specific requirements. This sort of tailor made package is known as a 'bespoke' system. These packages are normally produced by a specialist computer software firm who have experience in producing accounting packages. Technically, these packages are available for any firm, but given the expense of a bespoke system and the general low cost of a 'off the shelf' system (one that can be used by any firm), most firms will simply purchase a general package.

Advantages of using computers within accounting

The main benefits of using computers (to any level within accounting) can be summarised as follows:

Increased accuracy

Computers are less likely to make errors. In fact they should not make errors at all. Things will still go wrong, but this is likely to be the fault of the person entering the data into the computer, rather than the computer itself making an error.

Time saving

The use of a computer should be able to speed up the whole process of keeping accounting records. This is especially likely to be the case when the firm wishes to produce the final financial statements at the end of a period. The computer will be able to extract a trial balance (if necessary at all- perhaps this won't be needed?) and produce the trading and profit and loss account as well as the balance sheet almost instantaneously, based on the data already inputted.

Performance analysis

Once the data has been inputted, it is possible to manipulate the existing data to produce variations on the firm's overall performance. Even a simple spreadsheet can be manipulated to consider different scenarios. For example, a firm may wish to see the effects of am increase in sales of the overall profit level. A range of forecasted accounts can be generated to see how well the firm could expect to produce in the future (this is known as sensitivity analysis).

The data can be manipulated into accounting ratios automatically, which allow managers to assess the overall performance. For example, the profits can be related to sales, to capital or to assets to see how effectively the firm is operating.

Job satisfaction

The use of computers in accounting will free up time for the accountant to concentrate on more wide ranging tasks. This means that there is likely to be increased job satisfaction within he firm. Studies suggest that if workers are more satisfied or more motivated in the workplace, they are likely to be more productive in their output.

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Computers in Business

Inventory Control and Management
Inventory control and management is a crucial process, especially in establishments related to retail and production. Computers are used for recording all aspects of the goods coming in, details of goods and services, distribution of stock, and storage details. Note, that in small retail and production firms, simple computer software are generally used. Whereas in large corporations, Enterprise Resource Planning (ERPs) are employed.

Accounts and Payroll Management
Accounting and payroll management is also believed to be an important part of the overall system in a company. Be it any kind of industry; computers are largely used for the purpose of managing accounts of administration, sales, purchases, invoices, and also payroll management, which includes recording financial details of employees. These are just some components of the accounts and payroll management system where computing is used.

Database Management
Database management is associated with filing and recording, managing, and retrieval of data whenever required. For smooth running of businesses, it is very important that they have all procedures and details stored. This storage of data is done with the help of large databases and servers which have to be maintained on a regular basis. These information databases and servers are controlled by computers by appropriate authorities in a company.

Software Development
It can be said that for every computing need, a software has to be used. Software can only be made using computers for the purpose of helping businesses to combine processes and carry out their work properly. Nowadays, ERPs are largely used in business to blend all their processes together and execute the output as expected. There are many other software and application packages that a business may need to use according to the nature of work.

There are many other fields such as security control, communication, research, budgeting and forecasting, web management, where computers are essential. The impact of information technology on business has certainly changed the way businesses operate and have coordinated different practices of the firm to function collectively. Computer use is not only present in businesses, but computers are even used in sectors like medical and defense.

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