What is A Business Application? – Advantages and Examples
Businesses need all the assistance they can get to achieve vision and mission objectives. On this endeavor, the need to have application software used in business processes like invoicing, cash flow monitoring, and contact management, arises.
These tasks demand that they seek business management applications to not only ensure prompt and reliable results, but also to optimize process efficiency and to minimize overhead costs
HISTORY OF BUSINESS APPLICATION
Business application software definition
The compelling narration for application software for business is to bolster returns by cutting costs or enhancing the productive chain. In the earliest days of business automation, gigantic mainframe computers were used to solve the most tasking jobs, like production line assembling of parts and factory accounting.
Factory accounting software counted as one of the earliest and most popular business software tools, which comprised the automation of book ledgers, fixed and liquid assets record ledgers, cost computing ledgers, money receivable ledgers, and accounts payable ledgers. The latter covering mostly insurance policies for employees healthcare, occupational hazards and so on.
Computer Fundamentals and Concepts with Business application software
The early use of business process application software to replace manual labor reflected in increased profitability for businesses, thereby precipitating radical change in labor engagement. In many instances, a single computing system could easily carry out the task of several hundred of workers, added to the backdrop that the computer would not require any vacation or demand for health insurance.
Pacesetters such as IBM and Hewlett-Packard developed early versions of business application software to replace existing counting and drafting boards. As a consequence, CAD-CAM software (or computer-aided drafting for computer-aided manufacturing) surfaced around the early 1980s but bore the characteristic of being expensive, with costs reaching figures of 500,000 USD.
The 1990s saw the rise of the word processor and hence a phase out of the IBM typewriter for the former, being relatively cheaper. The advent of Microsoft Word processor and the telling emergence of the internet, has thrown open a world of opportunity for businesses that can now access the most efficient and cost effective business application software, with just a click of the button.
Business Application and Its Importance
Generally speaking, a business enterprise application is any program that assists businesses gauge and increase workplace productivity. This term is used extensively not just in large corporations but also in small and medium scale businesses as well.
In fact, a veritable hallmark of business application is that it can be upgraded from time to time. An important feature of technological strides includes the refinement of tools employed in the actualization of business processes.
Business applications must bear the important characteristic of being up-gradable, while serving the needs of the entrepreneur. In the past, huge sized mainframe computers, many of them filling up entire rooms, handled the most tasking jobs like production line sorting. Nowadays, business software handle these tasks swiftly and effectively, speeding up production cycles and cutting costs substantially.
Business Application Software Examples
The small business market comprises office suites and accounting software such as Open Office, Microsoft Office, Linux or Mac business applications. Medium sized businesses will prefer to use a larger scope of these applications which will range from Point of Sale software, field service software, shopping software, loan computation software, payroll computation business application, employee resources software, customer retention management, as well as other workplace enhancing business applications.
On the other hand, a list of business applications on an enterprise or a large corporation scale will include inventory management, product lifetime management, business process and route management, marketing content management, and process resource planning.
Different Types of Business Application Software
Business Application Software list includes:
1. Digital dashboards employed in important performance measures or dynamics of business events.
2. Online methodical processing for rendering support in the analysis of large pool of information employed in taking management decisions and instituting information systems.
3. Accounting software that pulls necessary data to assist managers in achieving an overview of business processes.
4. Data management: collation and mining, employed in the isolation and identification of business patterns.
5. Measurement of business performance.
Business Application support
What is the major importance of application software in business investment? Business applications are constituted based on performance threshold requirements of businesses. Additionally, many of the popular business applications are put together to utilize certain kind of Business measures or data units.
Small Business Process automation through Application Software
Most business application software make it possible to work seamlessly up until the point that there are no new business requirements. Also, the business applications work effectively if there are complications arising from faulty computer hardware, fluctuations in computer network (Internet/intranet), bad computer disks, poor power supply etc
Business applications can cease to function effectively when an unexpected error takes place. This error can arise due to wrong input of data, environmental factors, programming oversights, human errors and business process flow error.
When business application malfunctions occur, the need arises to find the faults and fix the business application error in a prompt and efficient manner, so the business can resume the uses of the business application software.