Modern business integration has become a key accelerator for organizations that are looking to improve customer experience, accelerate growth and unlock new revenue streams. It allows businesses to take advantage of existing technology, people, and processes to stay in front of their competitors.
Traditionally, many companies have a combination of legacy systems and on-premises software applications as well as cloud solutions. These disparate systems and their data are not able to communicate by themselves, so businesses need an effective business integration strategy.
Modern integration, which allows these systems to communicate with each other and exchange vital data across and within business lines, makes these business relationships much easier in the digital age. This is often referred as B2B Integration and can involve a range of advanced protocols – AS2, SFTP HTTPs, Web Services and proprietary fast file transfer methods.
Finance, healthcare, and logistical services are all examples of common use-cases. These industries have a common need to securely link multiple trading partners, while maintaining robust security, audit trail, and governance capabilities.
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, women's apparel companies might integrate with fashion brands that cater to teens and young adults in order to introduce them into new market segments.
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 goal of virtual data room software is usability. This data can then be sent into the target application to be processed. This can help automate processes, improve business communication, and decrease the risk of human errors or delays.