Importance of IT in Commerce

Importance of IT in Commerce

While we are taking about Importance of it in Commerce. So First we need that we fully Understand with IT and Commerce. After that we easily determine importance of IT in Commerce.

What Is IT

IT stands for Information Technology. Information Technology is the use of computers and software to manage information. In some companies, this is referred to as Management Information Services (or MIS) or simply as Information Services (or IS). The information technology department of a large company would be responsible for storing information, protecting information, processing the information, transmitting the information as necessary,
and later retrieving information as necessary.

What Is Commerce

The exchange of commodities for commodities. Considered in a legal point of view, it consists in the various agreements which have for their object to facilitate the exchange of the products of the earth or industry of man, with an intent to realize a profit. 

In a narrower sense, commerce signifies any reciprocal agreements between two persons by which one delivers to the other a thing, which the latter accepts and for which he pays a consideration. If the consideration be money, it is called a sale; if any other thing than money, it is called exchange or barter. 

The U.S. Congress has power by the Constitution to regulate commerce with foreign nations, among the several states and with the Indian tribes. The sense in which the word commerce is used in the Constitution seems not only to include traffic, but intercourse and navigation

Now, we will easily understand the Importance of IT in Commerce. We all understood that one thing commerce is related to business or nearby of business. We are also use of commerce for business. In easy words we can say Commerce is a System and business has no rules.

Technology plays a vital role in Commerce. Over the years Commerce have become dependent on technology so much so that if we were to take away that technology virtually all Commercial operations around the globe would come to a grinding halt. Almost all fields of commerce around the world are using computers ranging from the most basic to the most complex of operations.

Technology played a key role in the growth of commerce and trade around the world. It is true that we have been doing business since time immemorial, long before there were computers; starting from the simple concept of barter trade when the concept of a currency was not yet introduced but trade and commerce was still slow up until the point when the computer revolution changed everything. Almost all businesses are dependent on technology on all levels from research and development, production and all the way to delivery. Small to large scale enterprises depend on computers to help them with their business needs ranging from Point of Sales systems, information management systems capable of handling all kinds of information such as employee profile, client profile, accounting and tracking, automation systems for use in large scale production of commodities, package sorting, assembly lines, all the way to marketing and communications. It doesn't end there, all these commodities also need to be transported by sea, land, and air. Just to transport your commodities by land already requires the use of multiple systems to allow for fast, efficient and safe transportation of commodities.

Without this technology the idea of globalization wouldn't have become a reality. Now all enterprises have the potential to go international through the use of the internet. If your business has a website, that marketing tool will allow your business to reach clients across thousands of miles with just a click of a button. This would not be possible without the internet. Technology allowed businesses to grow and expand in ways never thought possible.

The role that technology plays for the commerce sector cannot be taken for granted. If we were to take away that technology trade and commerce around the world will come to a standstill and the global economy would collapse. It is nearly impossible for one to conduct business without the aid of technology in one form or another. Almost every aspect of business is heavily influenced by technology. Technology has become very important that it has become a huge industry itself from computer hardware manufacturing, to software design and development, and robotics. Technology has become a billion dollar industry for a number of individuals.

The next time you browse a website to purchase or swipe a credit card to pay for something you just bought, try to imagine how that particular purchase would have happened if it were to take place without the aid of modern technology. That could prove to be a bit difficult to imagine. Without all the technology that we are enjoying now it would be like living in the 60's again. No computers, no cellular phones, no internet. That is how important technology is in Commerce.