Specifications for distributed and decentralized computing networks/systems with strict adherence to security, scalability, and maintainability.
"what gets measured, gets managed."
- Secure Customer, Supplier, and Employee data: "Over the past few years, we have seen a significantly increased number of security breaches into corporate servers. Large multinational corporations such as Home Depot, Target, Sony, and many others have seen their supposedly secure data centers breached, often at the cost of hundreds of millions, or even billions of dollars. Securing customer data is not just imperative for a good customer experience; it is an essential financial priority as well." - University of Scranton.
- Real-time Access to Information: "Business environments are always changing, and that means that waiting months for data is simply no longer feasible. Having access to real-time information about a business’s operations is a powerful feature of enterprise systems. A high level of access to data allows leadership to assess and improve upon the company’s processes far more efficiently than if they had to wait months before having actionable data." - University of Scranton.
- Reduce the Cost of Doing Business: "Enterprise systems ultimately reduce the cost of running a business, which means that a company will have more of its budget free to increase customer service capabilities or invest in other assets that can improve the customer experience. One example is inventory control, as keeping too much or too little inventory can have a significant effect on a business’ bottom line." - University of Scranton.
- Standardized Process: "One of the greatest challenges in larger enterprises is producing a consistently positive customer experience. One of the benefits that comprehensive and real-time data storage, in conjunction with the use of ERPs, provides is the ability to ensure standardization of the customer experience to a significantly greater degree than would otherwise be possible." - University of Scranton.
- Improved Supply Chain Management: "Enterprise systems can help streamline supply chain management, in large part through the use of data about where, when, and how customers order and suppliers deliver. This again emphasizes the importance of storing business data in a usable format. Ultimately, the ability to streamline the supply chain means that products are delivered to customers more reliably, and at a lower cost, than would otherwise be possible." - University of Scranton.
- Ensure Regulatory Compliance: "Regulation has long been a reality of business, but over the past several years, regulations have become increasingly stringent and enforced. Regulations such as the Sarbanes-Oxley Act demand that investors receive a significant amount of data about a company’s operations, including information about the properties, assets and inventory management. One of the benefits of enterprise management systems is that much of the data these regulations require can be collected through automated means. Thus, enterprise systems can be used to ensure compliance with increasingly onerous federal regulations without taking personnel away from their essential customer service functions." - University of Scranton.
- Customer Relationship Management (CRM): "Customer relationship management systems were developed to address the need to raise a sales department’s productivity and provide an effective way to increase sales. With CRM functions, such as sales opportunity management, a company learns more about its customers’ needs and buying behavior and combines this information with market information to enhance the quality of the company’s marketing plans and sales forecasts." - CHRON.
- Supply Chain Management (SCM): "A supply chain is the collection of people, tasks, equipment, data and other resources required to produce and move products from a vendor to a customer. Supply chain management refers to the management of supply chain activities in an effective and efficient way to provide a company with a strategic advantage." - CHRON.
- Enterprise Resource Planning (ERP): "The enterprise resource planning system integrates software applications, such as purchasing, finance, human resources and inventory management. Within an ERP system, the integrated software modules, such as sales, quality management and accounts receivable, communicate and share data." - CHRON.
- Transaction Processing Systems (TPS): "Transaction processing systems (TPS) meet the data collection, storage, processing and outputting functionalities for the core operations of a business. TPS information systems collect data from user inputs and then generate outputs based on the data collected. An example of TPS system could be an online air ticket booking system." - CHRON.
- Customer Relationship Management Systems (CRM): "Business owners use customer relationship management (CRM) systems to synchronize sales and marketing efforts. CRM systems accumulate and track customer activities, including purchasing trends, product defects and customer inquiries. The capabilities of typically CRM information systems allow customers to interact with companies for service or product feedback and problem resolutions." - CHRON.
- Business Intelligence Systems (BIS): "Business intelligence systems (BIS) can be complex as they identify, extract and analyze data for various operational needs, particularly for decision-making purposes. BIS information systems may provide analyses that predict future sales patterns, summarize current costs and forecast sales revenues." - CHRON.
- Knowledge Management Systems (KMS): "Knowledge management systems (KMS) organize and dissect knowledge and then redistribute or share it with individuals of an organization. The purpose of these information systems is to bring innovation, improve performance, bring integration and retain knowledge within the organization. Although KMS information systems are typically marketed to larger enterprises, small businesses can also benefit from harvesting knowledge." - CHRON.