Finance and Accounting

The Internet has created vast electronic marketplaces for the purchase and sale of stocks, bonds, and other financial products. Online trading and management of investment accounts are also available. Financial systems, some of the first systems to be computerized, are based today on high-speed computers and networks. Financial and accounting information can be obtained instantly from internal computer systems and can flow instantly across entire organizations. Financial information can also be obtained instantly on the Internet.

Human Resources

Human resources record keeping is now largely computer based, enabling companies to track their employee resources instantly. Networked communication systems and the Internet make it easy for managers to communicate with many employees simultaneously and manage distant task forces and worker teams. Work can be separated from location and managed from afar.

Manufacturing and Production

Internet and network technology have enhanced the precision and flexibility of the manufacturing and production function in both large and small companies. Companies can use these technologies to work collaboratively with other companies and coordinate their design, production and quality control processes more tightly with those of suppliers and distributors. You can find examples of manufacturing and production applications on pages 3, 14, 17, and 35–37.

Sales and Marketing

The Internet and the Web have opened up a powerful new sales and marketing channel to retail consumers and to other businesses. Companies can use the Internet for advertising, customer support, and even some forms of product testing, with customers ordering products and services over the Web from their desktop computers. The ubiquity of the Internet makes it possible for small businesses to sell their wares in many areas of the globe without a physical sales force or front offices. You can find examples of sales and marketing applications on pages 17 and 35–37.