Introduction
Businesses that are not applying of information technology systems in their business processes would undergo different challenges in the diverse and competitive market. Most businesses in the globe have adopted the digital way and businesses are sacrificing their time and finances to bring in advanced technologies to tackle and manage their processes within the business effectively and efficiently.
However, the innovation of information technology and its introduction into business operations have improved the relationship between businesses and customers since information technology offers better services to customers every time they do business or offered services (Ho & Mallick, 2010).
Information technologies are being applied in all business, such as banks, to attract new customers and retain existing customers.
Additionally, business organizations that have taken advantage of the information technology applications in their business processes, obtain higher income matched up to those that have not retrieved these operations in their business operating forms.
As a result, the outcome of any firm functioning under the control of information technology is great, particularly in retaining existing customers and attracting new customers.
Customers often prefer fast and well-organized services instead of slow and tiresome services in this modern globalizing market. In the current globalizing world, information technology has taken a step to drive the businesses in the globe to provide first-class customer care services.
Certainly, information technology provides customer services that satisfy the demands of the customers through employing different applications within the operations of the business (Ho & Mallick, 2010).
First, software applications should be used in all processes of the business to access, store, and use data inline with the instructions available to address to provide quality and acceptable services to the customers.
For instance, web browsers normally apply software-enabled applications to gain access instructions of various services and products that are found in the internet.
Interestingly, with the information technology that often undergoes changes and improvements, customers can buy or access information about certain commodities through online methods. This method decreases lengthy and unproductive queues that are that the customers undergo frequently during daily services in all businesses in the globe (Ho & Mallick, 2010).
Secondly, advanced technologies, such as internet, allow data to be kept to provide effective communication between the business and its customers since this methods permits businesses to provide fast and reliable services to their customers.
Through method, customer satisfaction is met in all business operations and this brings about customer urge towards particular commodities that are provided by the business.
This paper focuses on the effects of information technology on customers and uses Barclays Bank to demonstrate this issue where e-banking offers dependable and valuable example of application of information technology impact on customers.
Introduction of new product
Businesses across the world are experiencing some positive effects brought about by advanced technologies due to the innovation and introduction of these information technology applications.
In the past, Barclays Bank often executes their operations with the application of book records and employees of the bank had to record and keep manually the detailed bank information in books instead of using quick and reliable computer systems.
Despite that, businesses had few computers and the accessible software applications did not support these businesses sufficiently, as well as insufficient knowledge to use available computers. Consequently, these computer systems only keep limited customer information resulting in derived and unreliable services, and can only store information for few customers.
In the past, customers had to pass through slow and long queues and processes of information recovery and access, and most businesses had to employ more employees to perform these tiresome tusks that led them to use more money in these processes (Ho & Mallick, 2010).
Sometimes, when there is huge attendance of customers, the customer satisfaction could not be attained in one particular day.
However, with the innovation and implementation of information technology, in most businesses across the world took delivery of computer hardware implements and applications installed with appropriate software devices that could keep, produce, process, and program stored information related to the users and partners.
These technology applications can store, preserve, and allow easy access of personal and confidential information and records to serve all customers effectively and meet the demands of the customers.
Different businesses, such as supermarkets, have introduced Smart Cards to receive and retrieve their points awarded according to the quantity of transaction made.
Most businesses, particularly banks across the world, have innovated and implemented advanced technologies that permits their clients to withdraw money through the Automated Teller Machine (ATM) using a simple card and all these operates through the application of software commands Since then ATM application systems have greatly drawn several customers into the banking sector since they offer reliable and quick customer services.
In general, application of ATM is usually called electronic banking or e-banking and with the implementation of electronic banking (e-banking), there is apparent advancement in the area of customer satisfaction and this has allowed more sales and introduction of new products to the market (Sharif, 2005).
Consequently, there is raised customer constancy onto banking industry and other businesses, which also experienced income increase after the implementation of information technology applications, such as e-banking.
Added Value from the Information Technology
Research has reported that application of electronic banking by most businesses in the globe has brought about enhanced selling and marketing approaches, together with attainment of first-class customer care services to please the customers, which eventually result in customer loyalty.
These businesses or banks permit minor and medium businesses to receive loan services even through mobile banking to improve their businesses to meet their set goals and customer satisfaction. Remarkably, the substitution of medieval and unreliable systems with new and efficient information technology applications created the operations of all businesses to be simpler and pleasant to every bank user.
Strategic decisions include customer satisfaction and for the bank to fulfill the demands for their customers, they are required to provide quick, reliable, and proficient services (Sharif, 2005).
Accordingly, this kind of enhanced and reliable technology permits precise information processing within minimal period of time, as well as meeting the time framework of the customers. In addition, the demands of the users direct all banking industries and other businesses to obtain a proficient and quick system to meet customer satisfaction and for simpler services.
Information technology is valuable and helpful to all customers because it allows fast data processing and quick service delivery. For instance, businesses that had to undergo several information entities have the higher benefits in applying or employing appropriate and acceptable information technology applications because most users can track their products and services using their network that the business have established.
For instance, banks may transfer electronic mails to their customers using emails concerning fresh products or when sending bank statements and balances that are usually produced monthly. This raises customer loyalty and allows more time to be used in other transactions or possible opportunities.
With the accessibility of internet or online services, customers may look for products and services they want not just in the banking industry, but also in other business sectors (Sharif, 2005). This is the reason several investment unions and business enterprises have employed online advertisements to reach more customers all over the globe or target particular customer with less expenses.
For example, an entrepreneur in the United Kingdom can trade in Japan stock exchange market through the application of online services. Similarly, an industrialist operating in China can apply for and acquire a Nissan car from the United States courtesy of online services or internet applications without basically paying a visit to display areas in the United States.
Partnerships
Remarkably, information technology systems have an impact on all customers and partners and introduce understanding into business outsourcing approaches and policies, and provide latest and improved business partnerships within this new arrangement of operations.
Accordingly, these beneficial applications and systems have directed companies and industries to apply information technology in their operations to attract, retain, and satisfy their clients. This is not just being creative, but also making a self-assured customer loyalty setting and accommodating for both minor and medium businesses to produce more income for a reliable and firm economy.
For instance, the adoption of e-banking in most commercial banks, many years ago, has experienced new and enhanced products disclosed and this has allowed approaches to attract more customers.
Electronic banking permits users to deposit or withdraw money faster and mobile banking that was innovated just like money transfer in partnership with banks has allowed all customers to operate their bank accounts from anywhere without basically visiting banking halls for these easier services.
More importantly, the applications are safe and assure privacy always and all the details received by the users are clear and complete concerning the amount of money accessible for withdrawal and all other details that the user may request (Sharif, 2005).
Therefore, using these application provided by information technology in business processes and applications, customers can receive the performance of their firms, new products in the markets, and services accessible in the markets, and account status that they have right to access.
For example, in banking sector, automated business operations permits customers and other partners to get in touch with the bank at whenever time and any where within the network coverage of the bank. Therefore, information technology makes business partnership and reinforces customer loyalty with the bank or other businesses they want to operate with.
Conclusion
Certainly, information technology brings about positive and reliable impact on businesses and customers, as well as supports businesses to develop and produce more income. The discussion above used Barclays Bank to represent all other businesses that have benefited from information technology implementation.
The greater income produced is due to attracted users who want to be part of the beneficiaries of the implemented information technology applications either for minor and medium businesses or for their daily operations.
Additionally, this application makes a first-class channel of communication, marketing of new products, customer connectivity, and other related business operations. Information technology systems and many other factors bring about business improvement, customer satisfaction, customer loyalty, and business development.
References
Ho, S., & Mallick, S. (2010). Analysis of Impact of Technology on Relationship Marketing Orientation and Bank Performance. European Journal of Scientific Research, 45(2): 291-300.
Sharif, M. (2005). Using a Priori Algorithm for Supporting an e-Commerce System. Journal of Information Technology Impact, 5(3): 129-138.