A procedure for auditing, evaluating, and debating the function and significance of the IT organization is known as the Value Realization Cycle. It entails the definition of value, the creation of value, the realization of value, and the maintenance of value. Value for IVK might be characterized as enhancing the efficacy and efficiency of the business' operations and boosting its competitiveness.

Step$-$by$-$step explanation

Define value: The first stage is to specify what the organization considers to be valuable. Understanding the organization's goals and objectives as well as how IT may assist in achieving them is part of this. Value for IVK might be characterized as enhancing the efficacy and efficiency of the business' operations and boosting its competitiveness.

Create value: The next stage is to invest in IT projects that will aid in the accomplishment of the organization's objectives. This can entail improving IVK's current systems or investing in new ERP and CRM solutions.

Realize value: Using IT systems to enhance the efficacy and efficiency of the business's operations is the third phase. For IVK, this can entail using the CRM system to enhance customer service or the ERP system to accelerate order processing.

Maintain value: The fourth phase is maintaining value by making sure that the IT systems keep supporting the business's activities. This might entail IVK investing in new systems to support future expansion or maintaining and updating the ERP and CRM systems.