Modern business integration can be a powerful accelerator for modern organizations who want to increase their growth, unlock revenue streams and improve their customer experience. It allows companies to take advantage of their existing technology, people and processes to stay ahead of 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.
Modern integration makes it easier for these business relationships www.businessintergation.com/2021/03/02/a-brief-guide-to-cryptocurrency-trading/ 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 and healthcare are examples of common use cases. These industries need to securely connect multiple trading parties with robust security, governance and audit trail capabilities.
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 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. The data can then go to the target app for processing. This can help automate, streamline, and improve a process. It can also improve business collaboration.