Technology has changed the way businesses operate as we know it. IT has enabled companies of all sizes, from basic tools such as the calculator to more complex systems which enable global communication. It’s hard to imagine a future without these technological advancements however, they carry a lot of baggage. Hacking and other malicious actions can disrupt business operations. This is the reason it is so important for companies to comprehend and utilize these tools with care.

Businesses today employ various tools that technology can use to streamline processes, support employees and customers. Numerous softwares automatize tasks like recording and data our website collection. These tools can also be used to calculate vacation time and employee attendance, as well as calculate monthly salary. In addition, cloud technology lets companies store and access data stored on third party servers on the internet, instead of buying and maintaining expensive physical infrastructure.

In addition digital technologies are also changing the way international business (IB) is conducted. Digital platforms help companies provide IB – including logistics, procurement, production marketing and communications across national boundaries. This allows companies to disintermediate processes by shifting costs and activities away from their own operations and onto their clients, complementors and other stakeholders at the home and abroad.

The IB community has long recognized the significance of these new technologies and has come up with a variety of strategies to ease their acceptance. However, IB is still grappling with the challenges associated with these new capabilities.