Changing trends in commerce and technology.
Commerce as the name itself suggests that It is the exchange of goods and services in a large scale which can include legal, economic, social, political, cultural and technological systems that operate in the country or in international trade.
as the name itself suggest that it is the exchange of Goods which was earlier known as Barter system in the prehistoric times. Apart from this commerce has developed in many aspects in today’s world, as in earlier time, they used to only exchange products, but now there are company with the intention of earning profits, tries to develop the section so much that they earn huge amount of profits. For this they are utilizing whatever channels they can survive and earn profit and the market. as commerce is related majorly to account or bookkeeping or by any other name that we connect to the numerical figures on which life is dependent. As account and technology goes hand in hand, the make a perfect partner to progress and develop in the market so as to earn profit for the companies.
Through this study, we are going to know the latest trends the field of accounting with the help of technology.
Keywords:- Commerce, exchange of goods, profits, accounts, technology.
As technology is seen as total solution to end all the craving needs of various sectors, each and every sector has developed and is developing the skills to be more technology competitive. As technology has enter old the sectors, did how can accounting be separate part in it. technology has changed the way we used to do the accounts in the earlier ages and now what we are doing and how we are doing it. As accounts in the earlier ages was very boring to people who used to learn it by themselves, but now as the advancement of technology in relation with account everything’s interest has increased in the accounting field by 10folds.
Here someare recent development in technology in the field of accounting which we are going to know and study about.
Crypto currency:- I’ve this is a virtual currency which was created in the year 2009 by the computer programmer Satoshi Nakamoto for the purpose of digital payment switch do not, part of the banking system. The Cryptocurrency has no physical form like rupee. it can only be transferred to one from one party to another only by the way of digital signatures. Without digital signatures it cannot process the payment or receiving of the amount. there are number of advantages of using cryptic currency but everything comes with a bad point as well, the bad point of the disadvantage of cryptic currency is that there a lot of risk factors such as lack of regulation difficulties in tracing Crypto currency users, lack of cyber security and consumption of electrical energy which would compel the investors/ users to stay away from crypto currency.
2. RePositioning artificial intelligence:- Artificial intelligence(AI) which refers to technologies capable of performing tasks normally requiring human intelligence, goes back centuries. artificial intelligence is expected to be the most impact full technological advancement for businesses in the next 5 years. Artificial intelligence is augmented with human intelligence so as to help them.
3. Future of the store:- even though they’re a physical outlet which well continue to cater the needs of the consumers to browse or buy goods, the details store needs to evolve in a better and personalized services to the customer and be more competent more informed and internet connected to the shopper. I sent earlier times people used to buy the goods around their or shop locally, but by the use of the internet based services, it can reach customer to any end of the world, as they can stay local and buy global. It not only souls better to the customers but as well as give him more choices to access the goods which are provided to him. since I’m and check out like Tao Cafe from Ali baba first made news in 2017, Steelers happen knocking on the door of technology phones wanting to repeated that experience. The rice of affordable item level tagging, computer vision and advanced machine learning have made this possible. In it simplest form, kendamas use a smartphone to scan for entry. since a technology 10 tracks the consumer in store and add items behalf removed from the shelf to virtual shopping cart. JD.com in China and Amazon in the US are working on similar initiatives.
4. Cloud computing:- it’s may seem obese overton at the point, but many people still think of the cloud as online storage or just a backup plan of sorts. Not anymore. The power of the cloud has increased dramatically over the years, making book quicker and mood efficient. It right away to allow access to move information for more people at any time of the day or night. Real time insights into keep performance indicators at your fingertips and at your clients fingertips.
5. Mobile accounting:- accountants are interesting independent on the mobile devices to access data. Mobile connectivity also bridges accountant and their clients. Mobile app help accounting firms manage care business on the move.
6. Block Chain technology:- the word block races to set up transactions which are treated by computer codes (cryptography) those block a connected to form a chain, meaning. The transaction are arranged in a chronological order. One can also think of block chain as a decentralized, extremely secured database, old to get flight mode technical, it’s a distributed peer to peer ledger of records. true this technology to buyer and seller can enter into transactions directly without the intervention of a tour party administrator like a banker or a payment service provider. In this, information about the person involved in the transaction are encrypted.
Conclusion:- as we are getting most smarter with product like smartphone and smart watches there are many contributing factors which our increasing the accounting and commerce technology.