Information technology relies on software, hardware and networks to store processes, transmit and secure data. Printers, scanners and computers, and other devices for business use are included. Additionally, peripheral devices like cameras and microphones. This includes the internal network infrastructure, such as switches, routers and software applications such as video-conferencing and email.
It has become an essential element for businesses to stay competitive and thrive in today’s digital age. It allows companies to lower operating expenses, increase productivity and generate new revenue streams. It also allows companies to communicate with suppliers and clients all over the world.
It has, for instance made it easier for people to communicate more effectively via email and phone. This has lowered the need for expensive meetings in person. It also has allowed small-sized businesses access to affordable data storage and processing capability to be able to be competitive with large corporations in terms of speed and accuracy of their decision-making.
Lastly, information technology helps companies comply with various government- and industry-driven regulatory requirements. IT personnel are very involved in security-related tasks and are regularly in contact with legal and business teams. This is to ensure that sensitive information is secured by implementing appropriate safeguards. They also provide internal consultation services in the areas of hardware, software, and cloud service procurement. These departments are typically described as «cost centers» because they incur costs and do not generate revenue or profit.