Over the past few years, technology has dramatically changed the way we do business. Intensive changes are also observed in the context of B2B negotiations. The purpose of this study is to present how technology is changing negotiations in business, discuss the challenges we face and identify opportunities that may result from further development.

Before the digital age, negotiation was often a complex and time-consuming process: face-to-face meetings and phone calls. Sometimes even earlier credentials and familiarization meetings at industry events. However, a lot has changed thanks to technology. Digital trading platforms, tools for data analysis and real-time communication have contributed to the acceleration and simplification of negotiation processes.

Communication tools such as e-mail, video conferences (zoom, teams, skype) or business messengers have revolutionized B2B negotiations. They enabled fast and effective communication, regardless of the geographical distance between business partners. Such tools certainly contribute to greater flexibility and speed of the process.

Big Data and business analytics have become invaluable tools in negotiations. They enable the analysis of huge amounts of data, which not only allow us to precisely prepare our expectations towards our opponents, but can also help us understand the needs and behavior of business partners. Analyzing customer data, for example, can reveal purchasing patterns that can help a company negotiate more effectively.

Despite many benefits, the use of technology in business negotiations brings some challenges. Belong to them:

– Data safety

– Implementation costs and technological adaptation

– Lower efficiency of remote processes

Despite the challenges, the use of technology in B2B negotiations brings many opportunities. The development of AI and machine learning is likely to bring even greater benefits in the future.

In the future, technology will continue to play a key role in all business processes, including negotiations. Technologies such as blockchain, AI and augmented reality can influence future B2B negotiations, creating a more efficient and secure environment for doing business.

Technology has definitely changed the face of B2B negotiations, bringing both challenges and new, interesting opportunities. In today’s dynamic business world, the key to success is adapting to these changes and using technology to achieve strategic business goals.

Source:https://poradniknegocjatora.pl/jak-technologia-zmieni-negocjacje/

Supported by Norway through Norway Grants 2014-2021, in the frame of the Programme “Social Dialogue – Decent Work”.