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4349 The World without Bankruptcy Laws

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4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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Although IT has been touted by the experts as being the bedrock of next generation of business in which large organizations encompassing several thousand employees will seamlessly operate in a global environment, there are a good number of issues to be resolved. However, as we have already seen the merits of using IT solutions as BPM tools. The following issues need to be confronted.

  • Expensive to Implement: IT systems have traditionally been expensive to implement. Although they streamline the processes and the return on investment is quite high, but a significant outlay is required upfront. This puts them out of the league of small and medium enterprises. It is only the big corporations that can afford them.

    However the recent introduction of cloud computing has the capabilities to face the challenge. Advances in technology are now helping smaller companies use software like we use e-mail. One just needs to have an internet connection, no set-up, no servers, no infrastructure required.

    One good example of the same is salesforce.com, which charges customers on a per user basis. Thus even small companies can have the benefit of good quality software irrespective of their size.

  • Long Deployment Time: IT systems have also been traditionally plagued with long deployment times. Building a solution often takes months or years. However, the next wave of BPM tools has reduced the time by at least 70%. Instead of building the whole system from the beginning, one can combine pre-existing modules and tweak them to one’s own needs. Cloud computing is another viable alternative with almost negligible time lag in implementation.

  • Inflexible Solution: Most companies have not built their IT systems all at once. It has been built at different times, by different people and using different platforms and technologies. The result is a series of applications that perform well within themselves but do not communicate with any external application.

    Since business functions in an integrated manner, it needs applications which do the same as well. But integrating different applications to support a synchronized process has become a difficult task. The IT companies are touting Service Oriented Architecture (SOA) as the solution. A discussion about what SOA really is, is beyond our scope. However, it must be noted that it is at a nascent stage and holds tremendous promise to make all system related woes disappear.

  • Dynamic Environment: The last issue is the fact that environment keeps constantly changing. The system needs to be flexible too. IT systems need to live up to the challenge. Till now IT systems do not have an answer to this issue.

The two biggest buzzwords in IT, SOA and Cloud Computing are most likely to resolve the issues.

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