Technology

Technology

As early as 1991, Indians started to view markets outside the India as the future of their business. That vision, along with a middleman called the Internet, has broken every possible barrier to growth and prosperity and has revolutionized how the world does business. The businesses, therefore, start with the help of technology that most of us use every day, making the point that what we really have on our hands now is a new paradigm for global competition and a new sense of information-focussed business. Considering that nothing beats a good face-to-face encounter, to help deepen the knowledge of a country and the end-user, technology should also be a priority.

Technological uses, especially social networks such as Facebook, LinkedIn, and Twitter, along with the rise of smartphones and tablets, made finding opportunities in the world marketplace easier for small business owners and executives who might like the idea of moving global. As a result of these advancements in technology, same entities can create opportunities and even launch whole new enterprises in a short span of time based on untapped potential and interests expressed by consumers. The exporter could contact the facilitating organization to conduct a partner search for agents located globally, where he thinks there are significant demand and wealth to purchase products. Within few months and with the help of facilitator, exporter can line up agents in different countries. Exporter sends a test shipment of product to each market to ensure the package make it to their destination safely, and he discovers in the process that the products are enjoyed by everyone who samples them. Eventually the exporter receives initial order kickstarting the export identity of the business.

For companies that buy or sell internationally, logistic management technology can be the most troublesome part of doing business. Executing, receiving, and tracking shipments requires a lot of careful consideration and planning, and shipments that go away can cost time, money, and customers. To help organizations tackle these tasks more efficiently as innovative new technology is becoming available. Logistics management systems can help ease the process of international shipping. Logistical management systems can help plan trade routes, monitor trade problem areas, and trace shipments. Logistics tracking technology proves to be a great help in reworking disrupted routes to get the deliveries back on track. Radio frequency identification (RFID) modules have become more affordable and available for companies to use. Bluetooth beacons give another option for e-tracking of shipments. Therefore,  both RFID and Bluetooth beacons become more easier, businesses will be able to take benefit of Automatic Identification and Data Capture (AIDC) in their supply chains, making more efficient to track and manage their goods.

Likewise, managing money in multiple currencies is getting simpler. Various online currency platform allows exporters to hold balances in multiple currencies. When a user wants to switch between currencies, the platform connects to many top-tier banking partners to search for the best rate. Various inventory management tool integrates with all the big auction and sales sites. A product can be listed on various hosting sites. The export technologies offer a long list of sales management tools, allowing retailers to change specifications across sites, monitor stock levels and sales figures, and consolidate finances into one comprehensible stream.