The Importance of Business Information Systems in Today’s Digital World

The Importance of Business Information Systems in Today’s Digital World

It is no secret that businesses rely on high-end technological solutions for day-to-day operations. Enterprises have dedicated technological infrastructures to support their operations. One of the most crucial components of the technical infrastructure is BIS (Business Information System). BIS is a collective term for all the software and hardware tools enterprises use to collect and analyze data. Business professionals often require data insights to make a decision. A BIS can provide them with the necessary data to make the right business decision. There are multiple departments and employees within an organization. The type of information required by each employee can be different. BIS solutions cater to the diverse information needs of business professionals. 

Read on to understand the importance of business information systems in today’s data-driven world.

Understanding the importance of BIS solutions
Here are some points to understand the importance of business information systems:

Enhanced productivity

Several business processes can be automated with the help of business information systems. BIS can streamline business activities and reduce the manual burden on employees. As a result, employees become more productive with business information systems. For example, employees can extract customer information in real-time with a CRM (Customer Relationship Management) solution. Similarly, ERP (Enterprise Resource Planning) is a BIS that can enhance the accuracy of business operations. Often, employees commit mistakes while collecting and analyzing business data. With BIS, human errors can reduce, and employees can become more productive.

Enhanced customer service

Customer service is a concern for any enterprise. Businesses tend to cater to the needs of customers to keep them happy. A CRM is an excellent example of BIS used for improving customer service. With CRM software, customer support professionals can extract previous customer interactions in real-time. It can help them offer personalized customer services with minimum manual effort. They can get to know customer preferences and offer tailor-made services. This can lead to improved customer retention and satisfaction rate.

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Decreased vulnerability to cyber attacks

With increased data, the tension for enterprises has also increased. Hackers always try to intercept valuable business data. They might sell the data for money or use it with foul intentions. The biggest problem for enterprises is securing valuable customer data. BIS solutions keep your customer data secure during business operations. A BIS can implement standard cybersecurity measures like firewalls and intrusion detection. If any foul play is detected, concerned teams are informed spontaneously. Unfortunately, small businesses often become the target of hackers stealing sensitive customer data. It is because some small businesses do not have a centralized CRM to store customer data securely.

Improved business decisions

Enterprises have to make decisions backed by data insights. A BIS can help companies accumulate, clean, organize, and analyze data. With data insights generated by a BIS, companies can know about market trends, sales, customer preferences, and more.

Let us say a company manufactures phone accessories. With the help of a BIS, sales employees can find that most customers who bought earphones also bought a case. In such a case, sales representatives can try to upsell a case with earphones. This can help them gain a strategic advantage in the market. With BIS, enterprises can stay ahead in the competitive market.

Increased productivity for remote employees

During the pandemic, the industry’s demand for remote work increased. Employees working from satellite offices and residences need access to data to continue business operations. Cloud-based BIS tools are available now for enterprises. Remote employees can use cloud-based BIS tools from any location. As a result, they can get access to the data needed for business operations even without physical infrastructure.

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Reduced operational expenses

BIS tools can help enterprises automate several processes. They do not need to hire employees to arrange and analyze data. Similarly, they do not require individuals to maintain manual records of customer interactions. By automating redundant processes, an enterprise can save more costs in the long run.

Enhanced communication

BIS solutions can help improve communications with the concerned parties. Employees do not have to manually send emails to customers about a new scheme. Instead, a BIS can automatically inform customers about new schemes, products, and campaigns. Similarly, employees can be briefed about their targets and goals with BIS tools.

BIS also helps an enterprise maintain communication with investors/stakeholders. For example, a BIS can send monthly sales reports to directors automatically. Some companies use BIS to send automated financial reports to banks and investors. Banks require financial reports of enterprises to judge their borrowing capacities.

Conclusion

In this competitive era, enterprises must monitor how they utilize data. BIS solutions can help enterprises maintain communication with investors, respond to customer requests, generate financial reports, and automate processes. Knowledge is power for employees as they can make data-backed decisions. Also, BIS reduces the operational expenses for the company. So, time to install a reliable business information system today!