The IT World and Business
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Technology has changed the way businesses operate as we have it today. Technology has helped companies of all sizes, from basic tools such as the calculator to more complex systems that facilitate global communication. It may be difficult to imagine a world without these technological advances however, they carry a lot of baggage. Hacking and other malicious actions could cause disruption to business operations. This is why it is vital for companies to comprehend and utilize these tools with care.
Today, business owners use various technology tools to streamline processes, assist employees and customers. There are a myriad of software available to simplify daily tasks, such as recording and data collection. These tools can also be used to calculate vacation time and employee attendance, as well as calculate monthly salaries. Cloud technology lets businesses store data on servers of third parties and access it through the internet, rather than purchasing and maintaining costly physical infrastructure.
Additionally, digital technologies are transforming the ways that international business (IB) is conducted. Digital platforms allow firms to provide IB services such as purchasing, production marketing, logistics and communications across national borders. This allows companies to decentralize processes, transfer expenses and activities from the company’s operations to complementors, customers and other parties in the home and abroad.
The IB community has long recognized the importance of these advancements and has developed a number of strategies to help facilitate their acceptance. However, IB is still grappling with the challenges associated with these new capabilities.