U2- The Role Of Technology In Managing People And Finance Flashcards
How can IT be used in the management of people? (6 ways)
E- diary can be used to manage staff time
Email can be used to communicate internally and externally
Word processor can be used to prepare contracts of employment
Data bases can store employee records which can be searched quickly
Websites can be used to advertise a job vacancy
Spreadsheets can be used in the calculation of wages and overtime
Why do businesses use technology to manage people?
To make their management of people more effective.
A benefit of making the people management function more efficient is that employees may be more motivated and happier in their work
It also makes it easier for organisation to link parts of the business
How can IT be used in the management of finance? (6 ways)
Spreadsheets can be used to prepare accounting layouts and create graphs for financial analysis
Email can be used to issue invoices quickly
Online banking can be used to manage accounts or to set up an overdraft without travelling
Word processor can be used to prepare financial reports to shareholders
The internet can be used to compare lenders for the best deal
Taxation can be paid online using the government website
Why do business use technology to manage finance?
Most organisations use electronic recording for accounting and taxation purposes
This means that it’s easier to maintain and store financial records and management accounting information is easy to produce
