Technology has changed the way businesses operate as we have it today. From basic tools like the calculator to sophisticated systems that allow for global communication, IT has made it easier for companies of all sizes. It’s difficult to imagine a time without these technological advancements however, they come with lots of risks. Hacking and other malicious actions can disrupt the operations of a business. It is important that businesses are aware of these tools and employ them in a manner that is safe.
Today, business owners use a variety of technology tools to streamline internal processes and support customers and employees. Numerous softwares automatize tasks like data collection and record keeping. Some of these programs allow companies to track and process employee attendance, compute vacation days, and even calculate monthly salary. Cloud technology lets companies store data on third-party servers and access it over the internet, instead of buying and maintaining expensive physical infrastructure.
Additionally digital technologies are changing the way international business (IB) is conducted. Digital platforms let companies provide IB services – such as production, purchasing, logistics, marketing and communications – across borders. This allows companies to disintermediate processes by shifting costs and tasks away from their operations and onto complementors, clients, and other stakeholders in the home and her explanation abroad.
The IB community has long recognized the importance of these advancements and has devised a range of strategies to help facilitate their adoption. However, IB is still grappling with the challenges that come with these new capabilities.
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