1.1 - Describing the purpose of IT in modern business

Companies and businesses have relied on IT for fast communications, data processing and market intelligence.IT has helped business grow and develop new products rapidly. Although the initial set up cost for IT equipment can be expensive in the short-term, the long-term savings are usually worth the initial cost. It is at the centre of operating models essential for globalization. A company can outsource most of its noncore functions such as HR and Finance. [1]