Both small and big businesses can
capitalize on the ICT bubble in various
ways to their advantage. They can start
by investing in a simple, but interactive
website that can keep customers
informed. If your business is into
selling merchandise, the ICT industry
also provides a viable opportunity to
create a small online shop that can be
helpful in marketing your products and
services with much ease.
on the online platform.
Better still, if you have a high risk
appetite for ICT, you can leverage
on the skills within your business
by starting a simple consultancy
firm to deal with pressing issues
raised by startups that are finding
it difficult to take advantage of the
various technologies that are at their
disposal. Some of the best consultancy
firms you can start include a Cyber
Security Consultancy, Social Media
Consultancy, or even better an Internet
Marketing Consultancy.
Maybe, we can draw reference of an
integrated system to the Integrated
Financial Management Information
System (IFMIS) that has been
advocated for immensely, more so in
government institutions. The design
of the IFMIS system is automated,
enhancing how institutions handle
the aspects of planning, procurement,
budgeting, management, expenditure,
and reporting.
However, there are several other ideas
you can explore and start an online
consultancy firm to help startups
integrate their businesses. From the
growth achieved by your business,
you are at a better position to identify
the strategies that work best, and you
can share these strategies with other
interested parties by capitalizing on the
ICT bubble.
ICT and the Golden Triangle
The ICT industry is also responsible
for integrating the golden triangle
between accounting, human resource,
payroll, and payments. By integrating
these aspects, businesses can do away
with the costly manual administration.
Even more beneficial is that integrating
your business frees up time to
concentrate on value-addition activities
that would bring in more revenue.
By leveraging the power of ICT, your
business can achieve higher levels of
automation, become more efficient and
productive, and enjoy better visibility
There are many solutions in the ICT
industry that can automate payments,
payroll activities, and accounting
functionalities. Such automated
solutions are advantageous for your
business since they eliminate the need
to manually recapture or import data
every month, reducing the level of
redundancy.
Just like an integrated system would
be advantageous to a business,
an IFMIS system plays a central
role in implementing a unified
financial management system that
seeks to improve transparency and
accountability in all the functions of
Government.
The power of self-service
An integrated system also provides
your business with a platform for
self-service, enhancing better ways of
working. Accurate data maintained
through an integrated system allows
employees to access information about
their benefits, leave, payroll, or even
expenses without having to rely on the
management.
They can update personal information
themselves, saving the managers, and
human resource department a great
deal of time. Such an environment also
benefits business managers to greater
extent since it enhances access to
up-to-date business information on a
real-time basis.
Even more interesting is the fact
that businesses can monitor the
performance of their employees and
business at the comfort of their mobile
phones. With access to accurate
information at all times, business
managers can make accurate and
informed decisions.
Apart from application and data
integration, there are also great
advances in software applications.
There are various social and security
software that are compatible with most
business systems, and you can take
advantage of them to strengthen the
position of your business.
Management applications designed
to improve communication and
infrastructure are also emerging at
an increasingly fast rate, and can be
advantageous to both small and big
businesses.
Business integration is driving more
businesses into the ICT segment as
more integrators seek to break and
take full advantage of the market.
Nonetheless, integration is helping
businesses prepare for growth and
competition on a local and global scale.
There is no turning back now. Business
integration helps businesses focus on
new ventures, and helps them leapfrog
and visualize how their services would
be in the future.
The most important thing about
business integration is that it frees up
business managers from the need to
take care of low-level administrative
tasks and allows them to focus more
on how to grow their businesses on a
new scale. Failure to enforce business
integration on the early onset can
potentially expose a business to the
bubble territory.
Peter Namasaka is a budding writer who
comments on topical issues on integrating
and expanding marketing platforms. You
can commune with him on this or related
matters via email at: Namasakapaul@
gmail.com