02 May Modern Business Integration – Accelerate Growth and Unlock New Revenue Streams
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 take advantage of their current technology, people and process to stay on top of competitors.
Many companies use a combination between legacy systems, on-premises applications and cloud solutions. These disparate technologies, and the data they contain, do not communicate inherently. This is why businesses must develop a robust strategy for business integration.
Modern integration allows these systems and apps to communicate and exchange vital data seamlessly within and across business lines. This is known as B2B (business-to-business) integration and involves a number advanced protocols, including AS2, SFTP HTTPs Web Services, proprietary high-speed file transfers, and Web Services.
Financial services and healthcare are examples of common use cases. These industries require robust security, governance capabilities, and audit trails to securely connect with multiple trading partners.
Another common application is horizontal integration. This is where two or more companies from the same industry combine their efforts to offer a digitalization and modern business integration broader range of services or products. 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 can then be sent to the target application for processing. This can be used to automate a process and streamline it, improve business collaboration, reduce the chance of human error and delays and ensure rapid growth for a business.