Question

To take the benefit of advance technology the companies of two countries work together

Answer 1

Answer:

Computers, the internet, robots and artificial intelligence (AI): these are some of the first things that come to mind when we talk about the technology businesses use. There’s no doubt that they can improve the operations of trade and commerce; they create notable advantages. However, even the most advanced technology products are far from perfect.

Explanation:

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Computers, the internet, robots and artificial intelligence (AI): these are some of the first things that come to mind when we talk about the technology businesses use. There’s no doubt that they can improve the operations of trade and commerce; they create notable advantages. However, even the most advanced technology products are far from perfect. They often have drawbacks or present challenges before they can deliver benefits. What do global businesses gain from adopting technology?

For a company like ours that supports telecommuting, reliable and faster communication systems are essential. Likewise, when talks about new technology began in our industry, employees’ fear that they would be replaced by computers was palpable. Of course, once they understood the tech tools, their fear turned into acceptance. Without any delay, here’s a list of the most important benefits I believe global companies can derive from technology based on my experience using and implementing it. There may not be anything surprising on this list, but it’s worth emphasizing how important these advantages can be for businesses that operate on a worldwide scale.

1. Faster and more reliable communication: For businesses that operate internationally, reliable communication is a must. If telephone lines are not available, you should have readily usable alternatives such as VoIP or live chat. Thanks to the fact that companies have developed numerous methods of communication, global businesses can be sure that their operations will not be easily disrupted. Fast internet connections make it possible to transmit various forms of information across vast distances in seconds. Faster and more reliable communication is also an important factor that enables telecommuting, a work setup that I’ve found offers its own set of advantages — particularly the potential for lower human resources costs and access to high-quality talent in places that are far from the physical address of a business.

2. Enhanced efficiency and productivity: Technology ushers in efficiency and productivity in many ways. Multinational companies can employ accounting, billing, payroll, asset management and other business software to manage their operations more effectively. On the other hand, technology can help companies automate repetitive tasks that don’t require sophisticated decision-making. This can result in greater productivity and efficiency.

3. Cost reduction and profit boost: I’ve found that increased efficiency and productivity from technology can result in a decrease in operating costs (and a corresponding increase in profits). Using technology has also helped me avoid opportunity costs, as systems backed by modern tech may be less prone to breaking down or succumbing to avoidable issues.

Also, using advanced communication technologies makes it unnecessary to constantly travel for meetings and supervisory work, as you can carry out these tasks through live video chat and collaboration platforms. This does not mean you should totally eliminate personal meetings and workplace inspections, but rather that you can reduce the need to be physically present in one location to work with other employees. Cost reduction is also a benefit I’ve seen from the teleworking setup, which is powered by modern technology.

4. Greater transparency and interconnected operations: It’s not easy managing businesses with complex bureaucratic processes and countless types of transactions. However, with the help of advanced business software, you can seamlessly integrate all business processes, even those in locations where you need to use different languages or currencies. When it comes to sharing and processing business data, you can automatically gather, process, and present everything in a form everyone can use.

You can also make accounting, marketing, sales, and other activities of a global business more easily accessible with the right tools. It’s even possible to use multiple types of business software from different developers, as most software nowadays supports integration with third-party software or comes with application programming interfaces (APIs) that allow developers to find ways to integrate other software.

5. Improved security: New technologies such as blockchain can allow businesses to implement better ways to secure business transactions without compromising transparency and creating delaying layers of bureaucracy and security measures. Blockchain could be used to secure financial transactions and the files companies collaborate on, for example.