If you are going to invest in B2B integration, you want to make sure that you are getting the best value. However, if you are not familiar with what B2B integration solutions are on the market and which are the most technologically advanced, you might find yourself getting confused, or worse, making the wrong choice.
Read on to learn about the three capabilities a modern B2B integration solution must have: application integration, tracking and reporting, and robust analytics.
Business technologies have long relied upon applications to share information within and across companies. Today, there are more applications than ever, many of which have vital information to share. A modern B2B integration solution must allow for application integration so that no crucial data gets left behind.
Specifically, application integration should be flexible. When integration is “brittle,” connections can break easily, which wastes time and money. You want your application integration to be successful to ensure the flow of information internally and to trading partners.
Tracking and Reporting
In today’s global business environment, your trading partners are no longer in your backyard. Most likely, they are not even in the same time zone, let alone the same continent. You need to know exactly what is going on in the supply chain, and you need to know now.
That is where tracking and reporting come into the picture. Tracking can show you exactly what is going on in the supply chain through IoT and other cutting-edge technologies. There is no more wondering where shipments are or whether a customer received a shipment; you have that information at your fingertips.
Reporting is also crucial; this functionality allows you to monitor your operations and to have a benchmark for comparison. Suppose that last quarter’s report shows that a certain batch of shipments did not arrive on time, and this quarter’s report shows the same thing. You now have a basis for investigation so you can rectify the situation.
What is the one thing that is more important in a B2B integration solution than reporting? We would argue that it is robust analytics. Why is that?
Your B2B integration platform is home to a wealth of information, and some of that information can be quite valuable (see the example above). Analytics helps you make sense of those reports. In addition, analytics increases the visibility of your information.
What do we mean by that? Analytics helps bring patterns out of the woodwork that you previously might not have recognized. For example, analytics might tell you that based on shipment patterns, it could be time to expand into a new market or launch a new product line. Your B2B integration solution must contain an analytics feature for you to derive value from your data.
The global business environment will only grow more complex. However, the right B2B integration solution helps you survive despite the complexity so that you can flourish. See some of our recent data integration success stories to learn how partnering with REMEDI can help your integration project succeed.