Every business needs to limit its expenses, whether small or big. Watching the revenue generation always involves looking for the (figuratively speaking) hidden dollar here or unnecessary cost there.
But every leader knows that you can’t jump to the finish line of success. The best way to approach financial efficiency is through the lens of optimization. And that means navigating through data to identify opportunities.
Data integration platforms have an enormous impact on the revenue making and bottom line of companies. Not only can they help business users onboard, integrate, and analyze data but also deliver the promised value to customers and promote revenue generation.
Companies can leverage modern data integration solutions to identify trends and areas to make the business more efficient, leading to a healthier business.
Modern data integration platforms help companies unlock new revenue channels by identifying new opportunities and limiting costs. It’s why most organizations today use transformed customer data integration solutions to create a fabric of connectivity for all of their systems, applications, and people.
These solutions play a vital role in helping businesses extract actionable insights and use them to make decisions – that directly impact revenue and bottom line.
Most financial service companies spend weeks to implement the bi-directional data feeds that connect across company boundaries. By taking so much time to onboard customers, it becomes challenging for them to make a powerful first impression.
While this is being carefully crafted by scarce data integration developers, the customers are waiting for the promised value and the company is delaying revenue. If a managed service provider is involved, companies need to wait for the availability of their IT resources to implement customer connections. In parallel, they pay them by volume of transactions, and this becomes an expensive affair as businesses securely integrate with more customers and expand market share.
Organizations have trouble keeping up with the pace of modern business and often leads to data silos. The data integration solutions employed to connect systems are costly, time-consuming, and put a strain on IT resources. Companies often need to cobble together cumbersome workarounds to integrate with legacy products – adding expense and wasting time.
What companies need to do is reimagine the way they integrate customer data, so that they can deliver delightful experiences and generate maximum revenue.
Modern data integration platforms powered with AI and self-service capabilities can play a vital role here. They can enable even non-technical business users to onboard and integrate customer data in minutes instead of months. Business users can leverage AI data mapping and other functionalities such as pre-built application connectors, shared templates, dashboards and intuitive screens to create data connections and integrate new customers at the speed of business – securely and easily. Since even non-technical users can drive the operations, IT teams are freed to focus on more important tasks instead of being bogged by the integration tedium.
By reimagining the data integration process, companies can comprehend their customer needs faster and deliver on them, thus enabling them to drive revenue and improve bottom line.