Technology’s Effect in the Modern Business World
Technology is at the heart of all innovation, and the effect is more profound in business. Right from having systems that reduce the workload and almost eliminating paperwork, entrepreneurs will benefit greatly from incorporating technology in their business practices. In this guide, we look at the effects of technology in business.
Reduction in the Cost of Doing Business
The logistics of maintaining a business always run high before it can be clear from the red. According to a study on the performance of new businesses started in the last decade, only 50% of businesses make it through the first year, and less than 25% of the remaining make it to the 10th year mark. The entrepreneurs who get their businesses past the 10-year mark have one thing in common; they reduce their overhead costs by incorporating technology into their business practices.
Streamlined Processes
Wages take up almost 50% of the … READ MORE ...
Shipping trade is one of the oldest industries around the globe. In today’s contemporary world, shipping interconnects markets, countries, people, and businesses hence permitting the buying and selling of goods and services on scales never experienced before. That said, the global economy largely depends on shipping – exports and imports would not exist without shipping.
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