Say you were climbing up the mountains, and all of a sudden the rope tied to your harness broke. What would you do? You’d stop, identify where the damage is, and fix it right away because it was too dangerous to continue. Safe move, but it delays your journey to the top.
Now visualize yourself working in an enterprise. You receive an order from a customer but because you’re leveraging legacy integration solutions, you fail to pay attention to the intricate details about the order. That’s also dangerous because it interferes with your goal to provide the promised value to your customers. It compromises your ease of doing business and blocks revenue. In such situations, what you need to do is stop and reimagine your integration systems.
Read White Paper: Reimagine Customer Data Integration
Dealing with a Broken Integration System?
If you have limited visibility into your integration points (that span across end-to-end processes like procure-to-pay or order-to-cash), you’re opening yourself up to all kinds of complications. In simple words, you are dealing with a broken B2B integration system.
A majority of companies with broken B2B integration completely fail to build data connections and integrate new customers faster – that impacts your ability to serve customers and build ROI.
If you have been nodding your head so far, you are likely to suffer from problems like:
High Incident Rates
Do you find it difficult to manage exceptions in your business? A lot of companies today fail to manage exceptions through their existing technological solutions. What they need to is pinpoint partners with high incident rates and identify where risk needs to be mitigated.
Lost Orders
Poor integration can lead to lost orders. That can cost your business a lot of money, even millions of dollars in lost revenue every year, depending on your company’s size.
High Chargebacks/SLA fines
When a legacy integration solution is used, it’s likely that your IT teams would have to do a lot of coding to map and integrate customer data. As a result, IT finds it difficult to focus on more high-value tasks.
Relying on a lot of custom coding and manual intervention techniques can lead to costly chargebacks. And that can result in loss of credibility with your customers and partners.
Recurrent Transaction Errors
When legacy integration solutions are used, achieving end-to-end integration visibility isn’t easy. You are likely to remain stuck and transaction errors are bound to occur. It would, therefore, take a lot of time to connect to build data connections and integrate new customers into your existing ecosystem.
How Do I Get Rid of the Roadblocks?
Companies need to rely on a modern data integration solution to eliminate the challenges mentioned above. These tools have self-service integration and AI-enabled data mapping capabilities that enable your users to build data connections and integrate new customers in minutes – securely and easily. This helps users to drive transactions securely and ensure end-to-end integration visibility into processes. While your business users build data connections, your IT users manage integrations and take up the role of governance instead.
With monitoring dashboards, intuitive screens, pre-built application connectors and shared templates, even non-technical business users can monitor and leverage large streams of customer data to deliver actionable insights that support decision-making.
To achieve end-to-end visibility into processes and transactions and use insights to make decisions, you must embrace a modern customer data integration strategy. Not only can that help you improve your ease of doing business but also deliver delightful customer experiences and ultimately value.