Modern business integration is a crucial accelerator for contemporary organizations that want to accelerate growth, unlock new revenue streams and improve customer experiences. It allows businesses to take advantage of existing technology, people, and processes to stay in front of their competitors.
Many companies combine legacy systems with on-premises and cloud software 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 www.businessintergation.com/2020/05/17/digital-integration-is-essential-for-modern-business/.
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 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.
Common use cases include financial services, healthcare, and logistics. These industries all require robust security capabilities to connect multiple trading partners securely, with audit trail, governance, and robust security.
Another common application is horizontal integration. This is where two or more companies from the same industry combine their efforts to offer a broader range of services or products. For example a women’s fashion company could integrate with a brand that serves teens and young adult to introduce it to new market segments.
Modern integration strategies allow these companies to extract data from their front end applications and convert it in a format compatible with the central organization device of their business partners. 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.
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