Digital Technology and its Impact on E-commerce Business

DIGITAL TECHNOLOGY

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY ..................................................................................................................................3
Key Trends of Digital Technology..............................................................................................3
Advantages of Digital Technology..............................................................................................4
Implication of E-Commerce business in global environment......................................................4
Evaluation of Business Models of Digital Business related to the key issues.............................4
Impact of Collaborative Relationship & Strategic Alliance through digital technology.............5
Impact of Cryptocurrency ...........................................................................................................7
Views on El Salvador's Legal Tender Adoption..........................................................................9
Conclusion.......................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
Digital technology is defined as those use of technology and make the business run in the
market. It is very important when the businesses want to expand their operation and grab the
consumers at higher level. There are various emerging business models that companies adapt
while dealing on the online platform. ASOS is a retailer of fashion and cosmetics which runs
their business on online platform. They provide quality services to their customers so that they
can retain them with their business.
This report discusses the key trends with the advantages of the digital technology
associated businesses, it will also reflect the implication which this business have on global
environment. Further it will explain various digital business model with the key issue of ethics as
well as cyber security. Other than this it discusses impact of collaborative practices & strategic
alliance with the impact of cryptocurrencies on these businesses.
MAIN BODY
Key Trends of Digital Technology
5G
It is one of the important trend which will be followed in Internet of things. The
expectations from this trend is it will revolutionize the lives of the people. It will enable those
services which are based on the technologies which are advanced such as AR & VR, along with
this gaming services which are based on cloud will also be enabled. The expectation is that it will
be first used in the factories, where HD cameras will help the business to improve the safety as
well as manage the traffic (Adebusola, and et.al., 2020).
Cyber Security
It is not a new technology but it is constantly bringing something new in the market
which is changing the working environment of the companies. As the hackers quality of hacking
is increasing cyber security is helping the business to safeguard its information. This will be
increasing the job in the near future for those who are talented in the field of technology ( Teoh,
and Mahmood, 2018).

Advantages of Digital Technology
Digital technology has changed the every aspect of the modern life (Khin, and Ho,
2018). Digital technology has provided various advantages to the organisation. Some of the
advantages are described below are as follows:
1. social connectivity: Social connectivity has made it easier for the organisation to
promote and increase the brand awareness of the product easy and attractive. With the
help of the social media such as Facebook and Instagram. The ASOS is using Facebook
page for increasing the customers of the company. It has helped the company in
increasing the loyalty of the customers. It has helped the company in informing the
individual about the events that are organised by the company. As it increases the
connectivity of the customers throughout the world.
2. Information storage: Digital technology helps in storing the massive information at one
place. It helps in keeping the data confidential, as the customers trust the company only
because of the security reasons. The ASOS uses this technique for storing the data of
their customers. It has helped the company in saving the times and efforts. It has also
helped in reducing the cost of the expenses related to the storage.
3. Communication speed: The speed of spreading the information has been increased wiyh
the help of the digital technology. Digital technology has made it easier for the
shareholders of the ASOS, to participate in the board meeting without being available at
the meeting place. As the presence of the shareholders are important for the some of the
decision-making process.
4. Versatile working: it refers to the increase in the communication process and effective
working by the employees. As under this the the employee can work from home and this
has increased the opportunities for the various employees who are not able to come to the
workplace for performing the task. The ASOS has provide this opportunity to its all
employees. So that they work with full effectiveness and efficiency.
5. Automation:automation of the working in the organisation has made it easy for every
organisation to complete their work on time. It has helped in reducing the cost of labour
as the machine installation is the one time expense. The ASOS has updated its accounting
techniques with fully automated machine that has reduced the time taken by the
employees for updating the accounts of the company.