Since the changes brought on by information technology applications are pervasive in all parts of contemporary firms, the current research has provided prospects for using information technology for digitally altering the modern businesses. In order to transform and accelerate their business processes, modern businesses have been focusing on integrating cutting-edge information technologies, such as analytics, mobile, social, cloud computing, and big data. This is according to a thorough conceptual review of the literature on the importance of information technology in management. The ability to strategically manage modern business processes digitally is mostly defined by a clear digital strategy that is backed by managers and leaders who support an organisational culture. However, integrating various aspects of this new information technology into modern enterprises also presents some significant difficulties, such as issues with data security, a lack of control, and interoperability with already installed IT infrastructure. There has also been discussion of the managerial implications and future research objectives.