Technologies for Client Requirements

In this assessment, the discussion will navigate around one of the critical components of technology. IT stimulates innovation in business through wider information dissemination, faster processing, improved data storage, and smarter applications. Therefore, there is the essence of categorizing information as a resource with business value to the organization. Client Requirements A sound information technology proposal must be a process that that seeks to align IT capabilities with business strategy and requirements. The functions of information technology continue to change each day altering the way organizations are managed. Their contribution is priceless because they will be the first persons to use this solution first. The process should start with a meeting to discuss plans, such as information on the programs chosen, who will be impacted, and the timeline.

The second step involves defining requirements and strategy. The step above depends on the nature of the business and certain processes may have to be implemented swiftly for enhanced communication for those involved in the technological product creation. After requirements are set, a strategy is defined for deciding the hardware and software features that require improvements, and what personnel and financial resources are available for implementation of the plan. It is necessary that risks are defined during the planning process which helps to put in place priorities and technology requirements (Masuda, et al 2017). Information Technology Solution Proposal An IT solution proposal is specific and should describe or fit the environment it will operate in. The goal is to outline the solution, document the analysis, cost, estimates and time frame.

There must also be stakeholder agreements for the proposal. The design of the IT solution proposal should have certain sections that address the following areas; 1. Define and give an accurate description of the current situation. Include business needs and what approach is needed from the project team to meet the needs for the IT solution proposal. Current State Infrastructure Assessment. Initiate and define an accurate description of the environment surrounding the solution and any variables that may correspond with the solution Concepts and Trends in Information Technology IT describes the application of computer advancement to manage data. The IT industry comprises of all the computer hardware, software and other devices used in the transfer, storage, processing, and dissemination of information on any technological device.

Recently, there has been a 25% growth in devices bridged by IoT, and pundits evaluate that by 20130, there will be over 70 billion connected devices. Entrepreneurs are aware that the IoT will revolutionize business productivity and are quickly hiring experts who know how to manage these devices. The other concept is the increase in the use of mobile applications. The applications are software applications embedded in smart devices like mobile phones and tablets. Since its introduction, mobile applications have become popular, mostly because of the invention of the Android operating system. Its intended purpose was to be a helping instrument for executives because it bridges the important gap between control requirements, business risk, and technical issues. COBIT is an immensely accredited model that can be implemented in any enterprise in any sector.

Also, it ensures the reliability of the information system, control, and quality in organizations. Currently, COBIT is used worldwide by IT business process leaders to furnish them with a model to practice better risk management practices and bring value to the business. It indemnifies the solidity of the information system. Because of the numerous criticism that had been levelled against the previous version of this model, COBIT 5. 0 addressed all these limitations through the following guiding principles; separating the governance from management, ensuring a holistic approach to decision making, application of a single integrated system, covering the entire enterprise from end to end, and meeting the needs of the stakeholders. Also, COBIT 5. 0 has been acknowledged for its potential to aid in IT implementations through advancing a collaborative culture within the organization which meets the risks, needs, and benefits of all IT initiatives (Mangalaraj, Singh, & Taneja, 2014).

Therefore, the beneficiaries of this model are process owners, IT professionals in risk security and audit and, IT managers, and the risk committee. Accurate forecasting is achieved by generating a factual forecast of the future company’s financial results. The access to data from all divisions of the company helps financial analysts create forecasting models based on real figures (Ghasemi, et al. The Information Technology Management Concept of Risk Most financial service organizations have acknowledged the importance of using information technology to widen the scope of governance and risk management. The awareness has grown in the midst of highly publicized security breaches and identity theft cases, besides legislation targeting management of operational, market, and financial risk vulnerability. Risks in IT have an adverse effect on the organization which can lower the value of operations and services (Teymouri, & Ashoori, 2011).

The risk strategy is a high-level concise scheme that explains the company’s direction and vision for risk management. The plan should comprise of risk processes, risk tolerance direction, expectations for risk management function, and the integration of risk processes into conventional IT operations. Risk governance: Accountability, oversight, and accountability are the primary foundations of the ITRM program. The risk governance concept of the plan should have a strong leader who can balance tactical and strategic enterprise creativity across distributed and diverse IT environments. Standards and policies: The ITRM office can outline standards, guidelines, and policies with the involvement of working teams from the current business IT risk and risk management functions. Align business needs with IT to expand business flexibility by swiftly reacting to change with measured, informed decisions.

(Ullah, & Lai, 2011) Enterprise Architecture Framework Enterprise Architecture is the practice of transforming business strategy and goals into pragmatic enterprise change by optimizing, communicating, and building the primary models, rules, and requirements that illustrate the desired condition of the enterprise and enable its evolution and change (Langenberg, & Wegmann, 2004). An example of such a framework is the Information FrameWork (IFW), developed during the 1980s by Roger Evernden. IFW is a tool for analyzing and structuring information, especially information change and business flexibility. The IFW was the premise of IBM’s strategic solutions in the significant financial sector. Differences between Maturity Models and Frameworks In IT, Frameworks are layered structures that help to identify the kind of programs that can be built and their interrelations with other programs.

Some system frameworks may include programs, programming interfaces, and programming tools for the framework usage. Frameworks can be used within the system to show they interrelate with layers of the operating system, application subsystem and communication standards certain levels of the network. Frameworks often add to the size of programs because of the various needs of the user's application needs. A maturity model tool helps assess the effectiveness of people in figuring out the capabilities needed to acquire what is needed next that will help them to improve performance. , Aslani, M. , & Barvayeh, E. The impact of Information Technology (IT) on modern accounting systems. Procedia-Social and Behavioral Sciences, 28, 112-116. Gudanowska, A. Impact of information technology on accounting systems. Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology, 3(2), 93-106.