Business

Why IT is the Basis of any Future Business Growth

We are definitely in a knowledge era. The fact that data is driving business development and growth and that this data is held and accessed through IT means that your business IT infrastructure and efficacy will determine your business success. This article will highlight some of the considerations to take and keep in mind as we all strive to ensure that business bounces back and manages to overcome the current uncertainty.

Current business growth/ the bounce back

After a time of true economic uncertainty and a downturn, there has been a noted increase in the economic vibrancy, and momentum is gathering for the return of sustained economic growth. There are a number of specific sectors that one should look to for this economic recovery, and a few of these are mentioned below. However, the hypothesis herein is that none of these sectors will do very well unless they are supported and driven by a solid IT foundation.

  • Travel and leisure

The sector has begun to open up again, and there are serious signs of life. Consumers have been kept grounded for far too long, and the rush to holiday is and will be seen in an increase in online bookings, package deals, and an overall growth in the leisure travel industry as a whole. This growth, as aforementioned, will most likely be seen in the online space and if any business is to take advantage of the business opportunity, they must have the capacity to deal with clients and customers in an effective and efficient manner online.

  • Technology entrepreneurs

Tech is a massive opportunity and is likely to be so for a while to come. It is not only at the cutting edge of technology that this growth is occurring but throughout the value chain and from making the smallest of components to the development of intricately complicated software tech is a growth point for all economies, and yet many will fail in the sector primarily because they are not using their own IT to its true potential, to sell, communicate and market to mention but a few possibilities.

  • Biopharma and health

Developing new ways to treat and cure diseases is and will become an even bigger sector as computing and analysis of historical patient data (big data) becomes more accessible. The ability to engage in these initiatives and the move to remote medicating and diagnostics simply equates to a massive move of finance into the sector, and health startups and biopharma business concerns are springing up everywhere. 

None of these aforementioned opportunities will and can be realized without the correct IT infrastructure, and its importance cannot be underestimated. The increase in people expecting to interact and operate in the online sector means that growing your IT infrastructure well will require a well-thought-through plan.

The first step is to understand the IT infrastructure and how to update and upgrade it. It is generally accepted that there are a number of components or aspects that make up the IT infrastructure, and the most critical aspects are the:-

Support

No matter its size or age, any business needs to be able to operate with the knowledge that IT support is a phone call or email away. The general trend is that these solutions should also be able to be implemented remotely.

Accessibility

A key part of any IT infrastructure is actually being able to access it, whenever and from wherever you need to.

Backing up

The manner of work in the current context means that employees are able to contribute from anywhere, and suppliers can communicate and fulfill orders, all online and all in real-time. Being able to back up vast quantities of business and customer data is essential and needs to be done on a regular basis in a secure fashion so that nothing is lost.

Security

Security is one of the main concerns of any IT infrastructure. In setting up the storage, software, hardware and providing access, the professionals that you use must be able to also establish the required firewalls and safety protocols to protect your data.

IT is still very much at the core of the modern business. Although the nature of currency may have altered and data  has emerged as the new gold, the ability to mine and interact in this emerging economy will depend on your business IT infrastructure. It is thus worth have a clear understanding of what this should cover to keep you up-to-date and safe.

Huynh Nguyen

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