Technology has changed the way businesses operate as we know it. From simple tools like the calculator to sophisticated systems that allow global communication, IT has made it easier for businesses of all sizes. While it may be difficult to imagine a world without these advancements however, they come with additional risks, including hacking and other dangerous activities that can disrupt the business processes. This is why it is essential for businesses to be aware of and utilize these tools in a responsible manner.

Today, business owners use various tools and technologies to streamline processes and provide support employees and customers. Countless softwares are available that automate daily tasks such as recording and data collection. These tools can also be used to calculate vacation time and track employee attendance. They also calculate monthly salary. Cloud technology allows companies to store and access data stored on third-party servers over the internet instead of purchasing and maintaining expensive physical infrastructure.

Additionally digital technologies are changing the way international business (IB) is conducted. Digital platforms let companies provide IB services such as production, purchasing, logistics, marketing, and communications – across national borders. This lets companies disintermediate processes by shifting costs and tasks away from their straight from the source operations and onto their clients, complementors, and other stakeholders in the domestic and international markets.

The IB community has recognized the importance of innovation for a long time and has come up with a variety of strategies to assist in their adoption. However, IB is still grappling to overcome the challenges associated with these new capabilities.