IT Managed Service Companies
Management of companies many years ago was very manual. This was before the existence of technology and technology based platforms. Inefficiency was the order of the day during the era of manual systems of managing companies. The change was instant after the discovery of information technology.
There are two categories of companies in the world. First there are companies that deal with tangible goods. Goods such as cars and other industrial items are the main trading commodities for such companies. The second group is that of companies that trade in services. These companies actually sell services to their clients.
There is a small difference when it comes to the management of service companies in comparison to companies that deal with tangible goods. The difference is more visible when it comes to employing information technology within the management structures. The use of an audit firm which is purely a service company would serve to create more clarity in this matter.
Audit firms carry out the service of auditing for their clients. Since auditing does not involve transfer of goods, the technology based system used to manage it is only responsible for tracking the flow of services as required by the client. To properly use technology in management, companies use computer software. The type of work being done by a company determines the type of software to be employed.
Different operations of the service industry can be done by the use of specific software designed for the task. Data storage is one among the key functions carried out by computer software for service industry. Service information can only be stored using data on an appropriate platform. The case of companies dealing in goods could be different since one can use the goods as evidence of transaction.
Software for management of service companies must also have features that enable networking. Services sometimes require step by step organization and transmission. For example, several steps must be followed precisely during an audit process. One department could start with financial analysis of the balance sheet of the client. Remuneration and taxation could be undertaken next by another department. This would culminate in the final audit of the company.
All the steps to be followed in ensuring flawless running of the different steps of a service company can be well managed using software. The software serves to ensure that efficiency is at its highest level. Researchers posit that the use of Information technology could boost efficiency of the company by over 50%. There is then an obvious positive correlation between this efficiency and the eventual financial performance of the company.