Is “time flies” just a phrase for you?
Then, taking a look at the calendar will surely bring you back to reality. Truth be told, we’re almost halfway into 2020.
As we are heading toward the mid-year, a lot has changed already especially in the field of technology and business.
To begin with, digital transformation is no longer an option, but a business imperative. CEO Bill McDermott pointed out that - companies that have embraced digital transformation are better equipped to manage disruption. In fact, during the next three years—about $7 trillion will be spent on digital transformation.
In addition, companies have to make themselves ready to cope with multiple roadblocks or challenges such as staggering cost overheads, changing customer mindset etc. to reduce friction within the business ecosystem so that they can grow as well as transform. In this blog, you’ll find how companies can embark on a digital transformation journey using technology and what factors can come into play.
In this digital milieu, enterprises can only drive the transformation wheel when they have a modern integration technology in place - a modern integration technology that helps enterprises meet their digital transformation objectives with ease and precision. However, it is true that not every platform can prove sufficient for businesses aiming for digital transformation. As a matter of fact, it has to comply with some pertinent aspects that shape current business space.
1. IT Skills Shortage: Generally, IT skills and technology skills are integral for businesses to sustain and thrive. However, the issue is that the number of qualified IT pros is limited, and the costs incurred as a result of this shortage is far from insignificant. As per an estimate made by LSE, lack of cloud computing skills shortage has cost businesses $258 million annually.
Companies attempting to transform digitally must select a data integration platform that is not heavily dependent on IT, for example self-service integration platform. Self-service integration solution empowers business users integrate themselves without difficulty. By doing so, the need to rely on IT reduces to a bare minimum. So, even when companies are facing IT skills shortage, they can continue to execute integrations with ease and precision. Relying on a solution like this can reduce cost overheads and improve security.
2. E-commerce Expansion: E-commerce is one of the most thriving industries of all. The reach of online stores is so big that the world seems small. Many brick-and-mortar corporations are plunging into e-commerce space to reap benefits.
However, this expansion has introduced problems too. The problem revolves around the ever-increasing data complexity and volume that these e-commerce units produce. To deal with such humongous data, companies must pick a modern integration platform that has large file data ingestion capabilities. These solutions are equipped to deal with big data and its 4Vs so much so that e-commerce units can easily using the insights to deliver better-quality experiences.
3. Business Process Integration: In this current digital era, enterprises come across the dire need to conduct business process integration quickly and efficiently for improved interoperability and agility. This is why organizations make efforts to modernize their enterprise resource planning (ERP) software. However, ERP cloud migration can be complex and risky if done without having a proper strategy in place such as business process integration. This problem can be resolved by using a modern integration platform that comprises robust EDI capabilities.
Such solution connects data, applications, trading partners, and underlying revenue-generating business processes with greater flexibility and reliability. From enterprise financial solution to customer relationship management (CRM), integration platform provides a versatile toolset to ensure business process integration.
If the objective is to embrace the change happening in the current business landscape and drive forward, then deploying an integration platform that takes the above factors into account is absolutely necessary. Get in touch with our integration specialists to gain more info.