Businesses must manage information because this will improve their accuracy and efficacy in handling important business related data, processes, organizations and services. Businesses are also generally large scale organizations that entail systematic collection and easy access of information such as customer details and inventory. Without information management, there will be difficulty in identifying business needs making it difficult to track growth and identify tendencies of loss.
Businesses that do not manage information may also complicate work processes as retrieval of important files is difficult, delaying transactions. Without information management, stagnancy if not deterioration of customer service may also arise such that mistakes and errors may occur, resulting to negative feedback and affecting customer and client satisfaction.
Before computer systems and communication technologies become incorporated and utilized as important tools in information management, managing information is generally limited to papers and other small mediums, making storing and retrieval of important files difficult and necessitates strong organizational skills. The use of computers has alleviated this situation. Computer systems and communications technology, especially with the advent of the internet and networking applications, have made information readily available to those who want to access certain data whenever and wherever they want.
Such that paper files can only be retrieved within the confines of the business establishment for certain times of the day, information management aided with computer and technological tools allow authorized users to access information anytime and irregardless of their location. Moreover, large files and data can be easily stored without necessarily piling up large amounts of paper works. Files are also organized systematically and as such, make it easier to catalogue, maintain, update and access information.