Technology has revolutionized how we conduct business. From basic tools like the calculator to sophisticated systems that facilitate global communication, technology has made it easier for companies of all sizes to function. It’s not easy to imagine a world without these technological advancements, but they come with many risks. Hacking and other malicious actions can disrupt the operations of a business. It is imperative to ensure that companies are aware of these tools and employ them with care.
Today, business owners use various technology tools to streamline processes and provide support employees and customers. Countless a knockout post softwares are available that automate daily tasks such as keeping records and data collection. These tools can also be used to calculate vacation leaves, track employee attendance and calculate monthly salaries. Cloud technology allows businesses to store and access data on third party servers on the internet instead of purchasing and maintaining expensive physical infrastructure.
In addition digital technologies are changing the way that international business (IB) is conducted. Digital platforms allow companies to deliver IB services – such as production, purchasing, logistics, marketing, and communications – across borders. This allows businesses to disintermediate processes, shift expenses and activities from the company’s own operations to customers, complementors and other parties in the home and abroad.
The IB community has long recognized the importance of these innovations and has come up with a variety of strategies to facilitate their acceptance. However, IB is still grappling with the challenges associated with these new capabilities.
