IT refers to the use of technology, be it hardware or software, for data processing, business solutions & day-to-day functioning of companies.
According to a Make in India report, India's IT-BPM industry recorded revenues of approximately Rs. 10 lakh crores in March 2017, approximately 8.5% year-on-year growth*.
Every industry depends on IT - banking, financial services, retail, media, pharma, automobile, manufacturing, telecom, hospitality etc. Technology & software solutions have become a part of all companies - Government bodies, startup firms and small & medium enterprises.
Newly emerging trends & technologies like cloud computing, mobile applications, social media & data analytics give rise to new opportunities in this sector.
*Source: IT & BPM Highlights 2016
- IT-BPM sector's contribution relative to India's GDP is more than 9.3 per cent*.
- According to NASSCOM HR Summit 2010, IT & BPO sector are set to add 30 million new jobs by 2020.
- IT jobs are well-paying and in demand around the world.
- IT Job roles are expected to grow as newer & advanced technologies come up.
- There are number of career options for different people - right from data entry operation to designing Powerpoint presentations to building mobile applications.
Role of IT in industry
I.T. is used in the BFS industry for:
- Computerising Branch Networks
- Installing ATM Networks
- Systems (handling debit/credit cards)
- Enabling Internet Banking
- Office Automation (in case of insurance)
- Managing Customer Relationships
- Processing Mortgage Loans
I.T. is used in the HealthCare industry for:
- Processing Information
- Cataloguing Patient History & Records
- Hospital Management
- Managing Billing & Insurance
- Coordinating Inventory
- Managing Logistics
I.T. is used in the Airlines industry for:
- Enhancing Passenger Service
- Coordinating Airport Operations
- Keeping track of Airline Cargo & Logistics
- Managing Fuel (oil & gas) Logistics
- Coordinating Flight Operations
I.T. is used in the manufacturing industry for:
- Adhering to W.T.O. Norms
- Managing Suppliers, Sub-contractors and Distribution
- Enhancing Operational Efficiency
- Increasing Capital Productivity
- Reducing Fixed & Variable Costs
- Understanding Shrinking Product Life-cycles
- Mass Customisation of Products