Information and Communication Techologies in Basis for the Improvement of Companies Performance in Serbia

The possibilities of using information and communication technologies for business improvement are numerous, but many studies show that there are significant problems in identifying the real impact of ICT investments and companies’ performance. The first large problem arises in the field of definition of ICT in each company and the other one is connected with the link between the specific investment and selected performance measure. There is no standard measurement system and the results of individual studies are not comparable. The aim of this work is to explore this matter in Serbia. In this research we used the case study method, which was conducted in seven companies of different sizes and structures in the field of telecommunications, education, manufacture, accommodation and food service, financial and insurance activities and retail trade. Each of the representatives, mostly top management, gave answers about ICT assets and investments in their companies. The results of our research suggest that most of the companies in Serbia consider ICT assets and ICT investment as duty imposed by the business environment. The management of selected companies do not see obligation to treat the ICT investments as “regular investments” like building new facilities, purchase new machinery or expanding array of services. There is a strong possibility that Serbian companies overestimate or underestimate the value of investments in ICT because they do not use appropriate mechanism to control investments. Also, it is likely that investments do not lead to required results, because there is no control mechanism that measures the impact of certain investment on results or companies’ performances..