Technology has transformed business as we are used to it. Technology has helped businesses of all sizes, starting with simple tools like the calculator to complex systems that allow global communication. It's difficult to imagine a time without these technological advancements but they come with lots of risks. Hacking and other malicious actions could disrupt the business processes. This is why it is vital for businesses to know and utilize these tools with care.
Business owners today use various tools and technologies to streamline processes, support employees and customers. Numerous softwares automatize tasks like recording and data collection. Some of these programs allow businesses to track and process employee attendance, calculate vacation time, and even calculate monthly salary. Cloud technology allows companies to store data on servers of third parties and then access it via the internet, rather than purchasing and maintaining costly physical infrastructure.
Digital technologies are also changing international business (IB). Digital platforms allow companies to deliver IB services, including production, purchasing, logistics, marketing, and communications across national borders. This allows businesses disintermediate processes by shifting costs and activities away from their own operations and onto their clients, complementors and other stakeholders both in the country and abroad.
The IB community has long recognized the significance of these new technologies and has devised a range of strategies to facilitate their adoption. IB continues to face issues that arise with these new capabilities.
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