Page 402 - Encyclopedia of Business and Finance

eobf_I 7/5/06 3:04 PM Page 379

Information Processing

Mainframe Computer Processing Room, 2000-2003. © WES THOMPSON/CORBIS

has often been associated specifically with computer-based and (3) using available resources more efficiently. Every
operations. organization, whether small or large, has a vested interest
in information processing technology. Smarter document
IMPACT OF INFORMATION management in office environments is essential. Busi-
PROCESSING nesses are adding intelligence and structure to digital and
paper documents in order to streamline business processes
Information processing has had an enormous impact on
and to aid integration within the structured data systems.
modern society. The marketplace has become increasingly
complex with the escalating availability of data and infor- The emphasis is not on eliminating paper, but on han-
mation. Individuals need a sound understanding of how dling the information embedded in the documents more
to create, access, use, and manage information, which is efficiently. The focus has shifted to tailoring and manag-
essential in the work environment. People need to under- ing technology to best meet needs.
stand the interrelationship among individuals, the busi-
ness world nationally and internationally, and government EFFECTS OF INFORMATION
to constructively participate as both consumers and pro- PROCESSING
ducers. These general competencies must be coupled with
Information generates ideas and drives decisions. Docu-
those that lead to employment in business as well as ments are driven by regulatory compliance, plus the need
advanced business studies.
to communicate with customers, suppliers, and employ-
According to market intelligence provider IDC, ees—while dealing with multimedia, business process
offices around the world were on track to produce 4.5 tril- solutions, and related investments. Questions that should
lion pages of hard-copy information by 2007. Three vital be considered include the following:
factors to consider in the management of documents are
(1) managing the documents more effectively, (2) control- 1. What techniques, procedures, and methods are used
ling the costs associated with the documents processed, to share useful information?

ENCYCLOPEDIA OF BUSINESS AND FINANCE, SECOND EDITION 379