In the past, it was only large businesses with a huge amount of capital behind them that were able to do business internationally. However, that is all changing. Even small businesses can tap into new markets overseas and sell their products around the world. Essential tech tools have made this possible.
With the right investment and some good forward planning, you can easily take your business global. You can find a whole host of new opportunities to grow. However, there are a lot of hurdles to overcome along the way if you want to start doing business internationally. If you are not able to face these new challenges, you risk failure. Below are some essential tech tools necessary for international business needs.
Essential Tech Tools That All International Businesses Need
The best way to make sure that your move to international business runs smoothly is to invest in the right tools. It’s important, of course, that you:
- have a clear business plan in place
- manage your finances well
- hire the right team
However, investing in technology is also key. There are so many great tech solutions that can help to make an international business a lot easier and increase your chances of success. These are the essential tech tools that all international businesses should invest in.
Overseas Shipping Tools
Shipping products overseas is more complicated than delivering locally. It’s important that you calculate all of the costs accurately. If you don’t, you risk losing money on every sale. You are shouldering the cost of shipping because you forgot about things like import fees.
The good news is, there are some great apps that make overseas shipping simple. For example, the UPS app has some great tools that help you to estimate the cost of shipping to different countries. All this so you can charge the right price for shipping. Most of the big shipping companies offer these kinds of tools and help you through the process of shipping products overseas.
So, it’s often best to go with somebody like:
If you use a small shipping company that does not have much experience with international shipping, issues may arise.
International Payment Tools
Being able to take payments internationally is vital. There are a lot of different tools available that allow you to do that. Paypal is one of the more popular tools, especially for small businesses, because it is widely known and trusted. However, you may be charged large fees for making a lot of international sales.
Paypal charges around 3.9% for international transactions, plus an extra fee depending on the currency that you are being paid in. This can eat into your profits in a big way. So, it’s a good idea to look into alternatives. There are tools that allow you to do an international money transfer without charging you any fees at all, and this is a huge advantage.
You will save a lot of money on transaction fees. Those savings can be reinvested in the business to help you grow. As the business expands and the number of international payments that you take increases, the fees that you pay will start to add up. Finding a service that lets you do international transfers without charging you a fee is very important.
If you plan to open a second location overseas, it’s vital that you consider communication challenges. All good businesses rely on open communication. That’s a lot harder when you are trying to manage a location in a different country. Hiring the right management team is vital, but you’ll also need to invest in communication tools to ensure that you can stay in the loop.
Video calling applications, like Skype or Zoom, are perfect for meetings with your team, but you may need to invest in some paid phone services as well. There are some great international phone services that give you unlimited calls to a range of different countries for a set monthly fee. You can also use VoIP (voice over internet protocol) systems so you can make free calls using an internet connection. If you don’t invest in these services and you make a lot of international calls, you could soon build up a huge phone bill at the end of each month.
Project management tools are another incredibly effective way to improve communication in international business. If you are running projects with multiple employees in different countries, it’s difficult to make sure that everybody is on the same page and communication issues can slow progress down in a big way. However, if you use project management tools like Trello, for example, you can easily break projects down into small tasks and track progress, so everybody is on the same page and they can collaborate effectively.
The language barrier is a big problem for a lot of international businesses and if you cannot overcome it, you will struggle. Trying to write up contracts or negotiate with suppliers when you don’t speak the language is tough. This is why you need to use good translation software for business.
You could hire a full-time translator or invest in expensive translation software. However, you will find that a lot of the cheap, or even free, online tools are just as effective. If you are really struggling with translation, you should also consider hiring multilingual employees.
Business Travel Apps
Running an international business means a lot of travel, and that can be stressful. If you want to make sure that your business trips run smoothly and you are productive, there are some great essential tech tools to help you out. Managing your expenses is always important on business trips and Concur is one of the best apps to help you do that. It makes it so simple to track expenses and create invoices on the go, and it integrates seamlessly with your business processes.
If you’re looking for a great app to help with your itinerary, TripIt is perfect. You can easily forward on the details of all of your bookings and appointments and it will create a full itinerary for you, with a simple to use interface.
Finally, when booking your trip, you could use Skyscanner to compare your flights. Business travel can put a lot of strain on your finances, so finding cheap flights is a huge bonus.
Essential Tech Tools for Business – What Do You Need?
If you want to run a successful international business, it’s important that you take advantage of all of these essential tech solutions. They are helpful and can ensure that your international business needs are met. Keep these in mind as you make your business transition if you haven’t already.
Do you feel equipped with the right tools to run your international business?
AUTHOR LaTia Longuemire
My name is LaTia Longuemire. I enjoy writing, singing, and cooking in my spare time. My passion is helping others. At this stage in my lifetime, I'm primarily focused on my children. They are everything that keeps my world spinning.