BIDC Business Catalyst 6 #3.indd 1 12/21/10 3:17:07 PM

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Changing the way we do business ICTs Changing the Way we Do Business Most companies decide on which type of Information and Communication Technology (ICT) products to adopt based on the concrete benefits they can bring to its core business, the ICT capacity of its employees, and the financial resources available. Most people are familiar with basic ICTs such as fixed phone lines, mobile phones, fax, computers, and basic document processing software like Microsoft Office. The use of mobile phones has helped many entrepreneurs and larger corporations to reduce costs and improve business processes. And with the advent of smart phones like the Blackberry, iPhone, Palm and Android, it’s like taking the office wherever you go. ICT’s have to some extent made business cards passé. Frustrated with the limitations of paper, workers around the globe are experimenting with digital ways to exchange contact information. They are still accepting business cards but shortly thereafter they are pitching the cards, opting instead to add the new contacts on the corporate social networking site LinkedIn. All this has signaled the move into more advanced communication technologies that rely primarily on the Internet and the intranet, a platform which allows people within a firm to share files with each other over the same network. No doubt about it, having Internet connectivity enables firms to do faster research, set up websites, conduct e-commerce, and support virtual teams. Entrepreneurs meanwhile are racing to develop websites and mobile software that ease the process of doing business in the digital world. This article explores some of the new developments that are changing the way we do business. VoIP One of the most revolutionizing developments in advanced communication technology is Voice over Internet Protocol (VoIP).VoIP includes all types of voice communication transmitted through the Internet, whether it is between computer and computer or in hybrid form between computer and regular phone. It competes directly with traditional fixed line and mobile phone operators. Users only pay for their dial-up, broadband, or wireless Internet connection. iSuppli, a marketresearch firm, estimates the number of VoIP residential users worldwide will reach 197 million by 2010. Skype is perhaps one of the most popularly used VoIP programmes. It allows users to talk for free over the Internet after downloading a simple free programme onto their computers. Beyond these communication technologies there are others still more advanced. Knowledge Management (KM) KM systems help a firm to better organize and share the knowledge of its employees. They help the firm take better advantage of its human resources. Enterprise Resource Planning (ERP) ERP software offers a single repository for information on all business functions – human resources, manufacturing, inventory, marketing, sales, accounting, and tax. It allows all levels of a business to obtain real-time management information for their area of responsibility. Customer Relationship Management (CRM) CRM software integrates people and technology to maximize external relationships. Functionality includes: sales contact management, activity history, order entry, customer service and support, field service, lead generation, data mining, etc. Supply Chain Management (SCM) SCM software helps to streamline the procurement of raw materials and delivering of finished products. It helps to decrease error rates, delays, and to increase efficiency. e-Procurement is often a part of SCM. Enterprise Application Integration (EAI) EAI integrates different types of ERP and other software systems through a common problem in order to synchronize the processing, storing, and transmitting of information. Rapid Prototyping and Manufacturing (RPM) Over the next 20 years, RPM will have a profound effect on the global manufacturing technology scene. RPM can reduce the new product design phase from 90 days to just three days. It is still an infant industry based on newly invented technologies, but it is apparent that RPM will dramatically reduce the cost and time required to convert a new product design to a practical manufacturing process. 24 Barbados Business Catalyst • July - September 2010
Emerging Technologies in the Workplace Think back just 15 years and picture a workplace with bulky computers - few of which were connected to the Internet - cumbersome wires, and oversized fax machines and copiers. Today, outdated equipment has been replaced with flat screens, wireless devices and high-tech conferencing systems. Ten years from now, modern devices will give way to more advanced technologies such as multilingual and sensory - recognition software that allows work to be conducted more efficiently - potentially meaning less people required to do a job. “More employers are embracing technology as a way to not hire as many people,” Gioia says. “In the future, interior designers will need to think about how these expanded technologies must be incorporated into the spaces they are designing.” In its Office of the Future: 2020 Survey and Report, staffing agency OfficeTeam identified several technologies that stand to alter the workplace and the way work is conducted in the coming years, including: • Sensory-recognition Software Computers in the future will increasingly be able to respond to voice, handwriting, fingerprint and optical input. • “Knowbots” These future programs scan databases to filter and retrieve information for users. For example, the program could summarize key points of a report, and deliver an e-mail and voicemail to the device a user is working on. • Smart Devices Computers will use algorithm-based programs to learn the relationships between words and phrases, creating a smoother interface and enabling users to conduct more effective information searches. The Office of the Future • Miniature Wireless Communication Tools These future devices will combine, for example, a personal computer, phone, fax, scanner, electronic organizer and camera all in one. • Wireless Everywhere Users can connect to the office in taxis, in buses, on planes, in parks, in building lobbies or even on beaches. • Interactive Office Spaces By 2020, offices will be embedded with sensors that monitor and maintain the environment, including temperature, humidity and lighting. For example, a sensor in a desk chair could detect back tension and signal the chair to give a massage. • Virtual Conferencing Technology Offices may be equipped with walk-in facilities outfitted with wall-sized screens that project 360-degree views of videoconference participants. • Automated Business Process Management Collaborative software will streamline the process by which teams work together on documents, eliminating the need for email as the means of document transmission and sharing. Barbados Business Catalyst • July - September 2010 25
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