Development of the Bulgarian and European Economies – Challenges and Opportunities
“ST. CYRIL AND ST. METHODIUS” UNIVERSITY OF VELIKO TARNOVO - UNIVERSITY PRESS

Optimization of Business Processes in Enterprises Through Information


Authors:
Yordan Balabanov University of Library Studies and Information Technologies

Pages: 249-254

Abstract:

The competitive management of companies in a dynamically changing world is strongly influenced by continuous attempts to optimise business processes which enable productivity to remain high and innovative marketing strategies to be implemented. At the same time, information gleaned as a result of data processing using various systematic information processes, is a vital component of this process because of digitalisation, which has proven to be a valuable resource in ever-more sophisticated business environments. However, the management of information in front and back offices and the generation of business value from the ever-growing volume of data processed are both seen as considerable challenges in modern-day businesses. The aim of this research is to highlight the fact that information synchronisation is of key importance in optimising business processes and directly impacts corporate efficiency. This paper investigates two management information systems: Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM). The paper analyses the innovative structure of integrated management information systems and the opportunities for optimal implementation of business processes between the marketing and production stages in product development. The relationships between information and end-to-end workflows are also considered. The research paper proves that the adoption of specific strategies to manage synchronised information allows for the optimisation of communication between various company departments; potential errors in communication are minimised and a single mechanism for decision-making is developed to adapt the informational and communication aspects of sales and production. The paper concludes by confirming that the management of information plays a key role in carrying out business processes in modern enterprises and that information synchronisation contributes to timely decision-making in marketing strategy, as well as effective responses to ongoing changes and a significant market advantage owing to increased productivity.

Keywords:

business processes optimization, management information systems, information synchronization.

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