Computer Application in Business: Meaning, Applications and Importance

Understanding Computer Application in Business

With the advancement of technology, computers have become a prerequisite in business industries. Nowadays the computer has become a great tool for business development, business research, sales and advertising. In today’s world, a competitive firm is making its unique Identity and promoting its brand over the internet with the use of computer applications. The computer application makes it easy for a business to process accurately and faster. Moreover, this brings immense value to the business in terms of increasing sales, promotions and advertisement.

The use of computer applications in business makes it easy for businesses to reach customers easily across the globe. It allows a business to connect with its customers 24 by 7. Moreover, it allows a business to yield higher profits and achieve the objectives and goals of the organization with greater efficiency, productivity and technological advancement.

What is the meaning of computer application in business?

In simple words, computer application in business means using technology or applications to conduct business processes over the internet. A computer application is a tool, platform, process or software which makes work easy. It uses the internet to work.

It is an emerging concept in the field of business as today more and more business processes are conducted over the internet. The use of the internet made it compulsory for the business unit to use computer applications to compete with the technology and developing business world.

Commonly used Computer Applications in Business

Computer Applications
                   Computer Application                Business Purpose
Quickbooks, Xero, TallyFor accounting and preparation of other financial statements
Google Docs, PDF element, MS WordFor the preparation of various informative documents
MS Powerpoint, Keynote, Canva, Slideshare, Open Office ImpressTo make a unique, simple and attractive presentation
Zoom, Microsoft Teams, Go To MeetingsFor conducting online business meetings and webinars
Slack, Trello, and Microsoft teamsFor enhancing business collaborations
Zoho Projects, ProofHub, NotionFor well managing the company’s project and enhancing time management
Canva, PickmonkeyFor designing simple, attractive, collaborative, and representative logos and other advertising materials.
Hubspot, Active Campaign, SemrushFor widespread sales, marketing, and other customer services.
Google Analytics, Buzzsumo, and Google TrendsFor researching and finding information related to customers’ needs, demands, behaviour and changes in trends
Google Drive, One Drive and DropboxFor storing data on the cloud
Paypal, Braintree and StripeFor payment and transfer of money

Importance of Computer Application in Business

Importance of Computer Application in Business

Various computer applications are used by a business for the smooth and fast working of its operations. Moreover, the use of computer applications in business simplifies the process by providing the required information with just one click.

The following are the importance of computer applications in business.

Accounting

Accounting is one of the most common computer applications in business, and it allows you to keep track of all important transactions in a quick and simple menu. There are various accounting software programs such as Xero, Tally, MS Excel, and others that allow companies to systematically record their data and generate reports on time. The various operations that are conducted through the use of accounting software are:

  • Accounting and inventory management
  • Preparing the payroll of employees
  • Managing accounts receivable and payables
  • Supporting multiple currency functions
  • Preparing reports
  • Enhancing ratio analysis
  • Cost centre management, taxation and many more.

Accounting as a business application makes all operations easy, whether it is the preparation of financial statements, the analysis of financial statements, preparing reports, preparing other information documents, or the storage of data. This relieves a company’s burden of storing data safely and appropriately, allowing it to focus on other objectives.

Business communication

Communication is seen as one of the most important aspects of a business. For the smooth functioning of a business, there must be effective communication within the organization and with the external environment.

A computer application makes the communication process easy and also enhances communication across boundaries. This means that communication can now take place from anywhere to any part of the country. This feature of a computer application allows a business to communicate with investors and business branches located in different regions of the world.

There are various computer programs such as Outlook and G Suite, Skype, Zoom, Microsoft Teams, Go To Meetings, and various others. These tools enable a business to send mail, track events, host online presentations and meetings, host online conference webinars, and schedule various appointments.

Business management

The Internet and computer applications provide a wide range of tools and software to manage various business activities. Computer applications allow a business to store information, transmit information to other people or business units, manage the purchase and sale of businesses, and handle the entire management process.

Apart from this, it also enhances a business’s ability to manage its various projects, handle employee and customer grievances, analyze and evaluate various data, develop marketing strategies, etc. It also promotes brand advertisement on various platforms such as Instagram, Facebook, Twitter, Google space etc.

There are various marketing tools as well, such as Canva, FotoJet, PickMonkey, Filmora, and various others. This tool allows businesses to create banner logos, photos, videos, data, templates, and newsletters for promoting the brand.

Research and marketing

Computers are gaining importance in business research, analysis, and marketing campaigns. It has now become a major source for knowing the competitors’ strategies and attracting customers from all over the world. Moreover, there is a lot of data that is available to a business on the internet that it can use for developing a greater business strategy.

Computer applications such as Google Analytics, SurveyMonkey, HubSpot, etc. provide ample opportunities for the business to:

  • Enhancing market strategy via email marketing
  • Conducting social media marketing and management on a large scale
  • Analyzing consumer behaviour and demographics
  • Researching trends and customer demands in the market

Computer applications also play a vital role when a new product is launched by a company by promoting and marketing it on a large scale. With the use of research and marketing computer applications, a business can give tough competition to its competitors.

Data storage

Computer applications are the best way of storing data safely and securely. Although paper and files are still used by companies to store data, saving data on a computer application allows for more safety than paper and files.

Moreover, computer applications have a lot of space to store data for several years. Apart from this finding, the stored data is quite easy on the internet as compared to the searching page to page of a file.

There are various applications such as Google Drive and Dropbox to save data in the form of images, videos, documents and files.

Final Words

With the technology change, a large number of companies shifted towards the use of computer-based applications in business. Computer-based applications not only simplify the operations of the business but also open the path to success. The huge key to success for a business is to retain its customers and establish its brand. Computer-based application systems not only allow a business to redress the grievances of its customers easily but also enable it to develop enhanced marketing strategies and handle management tasks easily through the use of various software and applications.

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