Technology has revolutionized the way we do business. IT has empowered companies of all sizes, starting with simple tools like the calculator to sophisticated systems which enable global communication. It’s difficult to imagine a time without these technological advancements however, they come with a lot of baggage. Hacking and other malicious actions could cause disruption to the operations of a business. This is why it is essential for businesses to be aware of and make use of these tools in a responsible way.
Today, business owners use various tools that technology can use to streamline processes, support employees and customers. Numerous softwares automatize tasks such as recording and data collection. Some of these programs allow companies to track and manage employee attendance, calculate vacation leave, and calculate monthly salaries. Cloud technology allows companies to store data technical support services for your business on third-party servers and then access it via the internet, rather than purchasing and maintaining expensive physical infrastructure.
Additionally digital technologies are changing the way that international business (IB) is conducted. Digital platforms enable firms to provide IB including logistics, procurement, production, marketing and communications – across national borders. This lets companies disintermediate processes by shifting costs and operations away from their own business and onto clients, partners and other stakeholders both in both the home and abroad.
The IB community has been aware of the importance of innovation for a long time and has developed several strategies to facilitate their adoption. However, IB is still grappling with the challenges associated with these new capabilities.
