Technology has revolutionized how we do business. From simple tools such as the calculator, to complex systems that allow for global communication, technology has made it easier for companies of all sizes. While it may seem impossible to imagine a world without these advancements but they’ve come with extra baggage, like hacking and other harmful activities that can cause disruption to business operations. It is important that businesses are aware of these tools and employ them responsibly.
Businesses today employ various tools and technologies to streamline processes, assist employees and customers. Numerous softwares automatize tasks like recording and data collection. Some of these tools also let businesses track and manage employee attendance, compute vacation days, and even calculate monthly salaries. Cloud technology enables companies to store and access data stored on third party servers via the internet, instead of buying and maintaining expensive physical infrastructure.
In addition digital technologies are also changing the ways that international business (IB) is conducted. Digital platforms let companies deliver IB services such as purchasing, production, logistics, marketing and communications – across national boundaries. This allows businesses website building tools by board room disintermediate processes by shifting costs and tasks away from their own business and onto complementors, clients and other parties in the home and abroad.
The IB community has long recognized the significance of these developments and has developed a number of strategies to help facilitate their acceptance. IB is still facing challenges that come with these new capabilities.