Business software technology applications and development

Business Software Technology

The information technology industry is vitally important to the advancement of our society and our world. This discussion will explore the business software technology aspect of the industry. First, we will discuss the tasks performed by individuals in this field. We will then look at the economic impact of this segment of the industry. Finally, we will explore the benefits and rewards of working in the business software technology field.

Tasks Performed by individuals in the Business Software Technology Field

The Business software technology field is critical to the success of any firm. The field researches and develops software applications that allow firm's to thrive. The Business Software Alliance explains that, "Businesses use software to collect, analyze, and present information; to buy and sell goods and services; to design better products; and to facilitate communications." ("Building an Information Technology")

Business software technology is particularly critical for e-business applications. E-business is a growing segment of the industry and requires a great deal of software to ensure the satisfaction of customers and to maintain revenue gains for businesses. Employees in this field are in demand at firms around the country and in nations around the world.

People in the business software technology field are trained to perform the following tasks;

Maintain and upgrade applications

Devise programming solutions to meet business needs

Fashion e-Business and web-based software applications

Installation of programs

Test and improve software programs

Evaluate business requirements ("e-business Technology")

Economic Impact of Business Software Technology

Business Software Technology is also an important part of the economy. A report published by the Business Software Alliance explains the impact of business software on the economy. The report asserts, "The direct effects of the U.S. computer software industry in 1996 included a $102.8 billion market for software and software-related services, payment of $15.1 billion in taxes, and 619,400 jobs."("Building an Information Economy")

In addition, the business software industry has grown astronomically in comparison to other industries. The report contends that the industry grew 12.5% in the six years between 1990 and 1996. This is 2.5% faster than the overall economy. Additionally, the packaged software segment of the industry grew by 14%.

Benefits and Rewards of entering the field

Benefits

Now that we understand the significance of the industry let's discuss the benefits and rewards of entering the business software technology field. As we mentioned previously this career field provides thousands of jobs nationwide and individuals in the field reap many benefits and rewards. One of the major benefits of working in the field is the knowledge that is acquired. This knowledge allows individuals to contribute greatly to the organization that they work for. Individuals in this field can aid their employees in developing software that can dramatically change the amount of profits that the company realizes.

Schooling and education are another benefit of entering this field. Educational institutions across the globe offer a broad range of courses in the field of Business Software Technology. These programs range from technical certificates to Masters Degrees in the field. Whatever the level of education that one acquires upon entering this field, he can rest assured that there will be jobs available in this field.

Another benefit of working in this field is that highly skilled individuals are in demand. When a company has a demand for a certain type of employee they are often willing to pay top dollar to get and keep the right individual. The BSA explains,

Part of meeting the challenge of technology leadership is hiring and retaining a highly skilled workforce. The high wages paid by the software industry reflect the importance of "human" capital in the industry, and the rapid wage gains of industry employees reflect the growing scarcity of such highly skilled workers." ("Building an Information Technology")

It is estimated that employment in the industry will make up 3% of the total economy by the year 2005. The Business Software Alliance reports, "In 1996, the U.S. software industry directly employed 619,400 people. Employment in the industry is expected to grow at approximately 5.8% per year between the years 1996 and 2005, resulting in 1,030,500 jobs." ("Building an Information Economy") Employment in this industry has grown at a rate of 9.2% each year while employment in the telecommunications industry has only grown 1% each year.

Rewards

In addition to the high demand for individuals trained in this field, this industry also provides higher than average wages for those entering the field. The yearly income for worker in this field is $60,000. This is considerably higher than the average wage for workers entering fields such as consumer electronics or photonics. It is estimated that by 2005 the business software technology will pay a total of $60.5 billion in wages. ("Building an Information Economy")

There are also opportunities for advancement in the field of business software technology once an individual has gained experience and/or pursued a higher level of education in the field. In other words the Business Software Technology field is not composed of dead end jobs. These workers make considerably higher wages and their wages continue to steadily increase. Other rewards include incentives such as stock options, compensation plans and other bonuses.

The high wages and incentives that workers earn form working in this industry not only benefit the employee but also the overall production of the firms and thus the economy. The BSA reports that workers that earn higher wages work harder and take pride in their vocations. The text asserts that the amount of production is directly related to the wages and benefits that an employee receives. The report states,