Modern business integration is an essential accelerator for organizations today that want to accelerate their growth, unlock new revenue streams, and improve the customer experience. It allows companies to take advantage of their existing technology, people and processes to stay ahead of competitors.
Traditionally, many companies have a combination of legacy systems and on-premises software applications as well as cloud solutions. These disparate technology and their associated data are not inherently communicative, which is the reason why businesses need https://businessintergation.com/2022/11/09/what-is-integrated-business-planning/ a robust business-integration strategy.
Modern integration makes it easier for these business relationships to flourish in the digital world. This allows systems and applications within and outside of lines of business to seamlessly exchange vital information. This is often referred to as B2B integration and can involve a number of advanced protocols – from AS2, SFTP, HTTPs, Web Services, and proprietary high-speed file transfer methods.
Financial services, healthcare and logistics are all common use cases. These industries require robust security, governance capabilities, and audit trails to securely connect with multiple trading partners.
Another common use is horizontal integration. Two or more companies within the same industry can combine to provide a wider range products or services. For example, a clothing company for women might integrate into a fashion brand that serves teens or young adults to introduce the company to new markets.
Modern integration strategies enable these companies to extract the right data from their front-end applications and convert it into a form that is compatible with their business partner’s central organization device. This data can be sent to the application of choice for processing. This can automate and streamline processes, improve collaboration, and reduce the likelihood of human errors and delays.