Technology has revolutionized the way we do business. IT has facilitated companies of all sizes, from basic tools such as the calculator to sophisticated systems that allow global communication. Although it might seem impossible to imagine the world without these innovations but they’ve come with excess baggage, such as hacking and other harmful activities that can cause disruption to the business processes. It is important that businesses understand these tools and employ them with care.

Today, business owners use various tools and technologies to streamline processes, help employees and customers. Numerous softwares automatize tasks like data collection and record keeping. Some of these tools also allow businesses to track and manage employee attendance, calculate vacation leaves, and even calculate monthly salary. Cloud technology enables companies to store and access data on third-party servers over the internet, rather than purchasing and maintaining expensive physical infrastructure.

Digital technologies are also transforming international business (IB). Digital platforms enable firms to provide IB – including logistics, production, procurement marketing and communications across national boundaries. This lets businesses disengage processes, move costs and operations from her explanation the firm’s own operations to complementors, customers, and other stakeholders in the home and abroad.

The IB community has long recognized the importance of these new technologies and has devised a range of strategies that will facilitate their adoption. However, IB is still grappling with the challenges that come with these new capabilities.