Share information across the business
These days, most corporations have their own intranet, which is somewhat like the internet except for the fact that it's only accessible to those within the company. However, Intranets are not just useful for large enterprises, Small and medium sized businesses can benefit from them hugely too.
An intranet means that internal communications within a company are simplified substantially and make for more success in terms of growth, as productivity increases. It's basically an internal database which every employee can access, with different permissions for various staff.
For example, it's doubtful that you want junior office staff to be able to access all of your financial reports and forecasts for the year, so these are just given permissions to access certain areas of the intranet which is relevant to their job.
By building an intranet, employees and bosses alike can share information across the board; not only is it easier to set up and share appointments and information, but as a part of an intranet, employees can communicate better, leading to less confusion following meetings, when everyone has to take notes and remember everything afterwards.
Not only that but intranets have evolved dramatically over the past decade as CMS and social media are added and the introduction of cloud computing often means that an intranet can be accessed from anywhere, which is called an extranet. This is ideal in these days of BYOD and telecommuting, as it makes for a more flexible workforce and again, ups productivity.