Information technology relies on software, hardware and networks to store data, process, transmit and secure data. This includes computers and other devices used to support business needs, such as printers and scanners; and peripheral equipment like cameras and microphones. This includes the internal network infrastructure, such as routers, switches, and software applications like video-conferencing and email.
It is an essential element for businesses who want to prosper and remain competitive in the technological world of today. It allows companies to lower operating costs, boost productivity, and create new revenue streams. It also lets companies connect with clients and suppliers across the globe.
It has, for instance made it much easier for people to communicate more effectively via phone and email. This has decreased the need for expensive meetings in person. It has also enabled small businesses to gain access to affordable data storage and processing capabilities to be able to compete with larger companies in terms of speed and precision of their decision-making.
Additionally, information technology aids companies comply with various regulatory requirements. IT personnel are very involved in security-related tasks and regularly interact with the business and legal teams. This is to ensure that sensitive information is protected with appropriate controls. They also provide internal consulting services for hardware, cloud service procurement, and software. In general these departments are referred to as “cost centers” within the company because they are able to incur expenses instead of creating revenue or profits.