Information technology and efficency of company management

Information technology deals with four related terms' (1) information and communication technology (I CT) and (2) information technology as one segment within the I CT, (3) technology/tech economic sector comprised of IT related companies and (4) FinTech sector - as one segment within the technology sector offering financial products via new platforms. Information technology affects the efficiency of management indirectly - via information systems. If an informatin system provides accurate, comperhensive and timely reports on company performance, management will be more efficient. Key information systems used by modern companies are' (1) MIS - Management Information System that provides automatic reports@ (2) DSS - Decision Support System that automates decision making based on predetermined criteria@ (3) TPS - Transaction Processing System that automates the key company activitites such as procurement or sales@ (4) KMS - Knowledge Management System that helps gain and communicate knowledge@ and (5) OAS - an Office Automation System that automates clerical (schedulling, printing, mailing) and managerial office activities (performance control and reporting).