Posted By Adeptia Inc. on 06/04/2018 in Technology

Integration Restraints that Prevent Digital Transformation Initiatives

Integration Restraints that Prevent Digital Transformation Initiatives


Disruptive technologies are cloud-based and carry innumerable API endpoints and data that needs to be connected. These endpoints increase with the proliferation of SaaS, Big Data and Internet of Things based technologies in an organization. Organizations need to join their systems with these endpoints for getting connected with external partners and stakeholders. Another relevant problem is updating the endpoints whenever there is an update in systems.


Yesterday’s technologies and manual and conventional approaches cannot solve future integration challenges. Independent coding to connect every endpoint can be a poorly implemented practice. SOAP-based or normal Enterprise Service Bus (ESB) models are not the right fit for emerging use cases. A long-range approach is needed to gain more value from the existing investments and addressing the line-of-business needs.


We can take the example of financial institutions or banks whose legacy modernization initiatives are primarily driven to reduce regulatory and risk management burden, improve customer and deriving actionable insights to enable strategic decisions. Siloed Data (related to credits risk, compliance, underwriting, etc.) and disparate systems prevent it from making the most out of transformation. Batch processes don’t solve real-time integration issues, back-office systems, data stores, analytics, SaaS applications, mobile apps, and social media networks. Another challenge is meeting the compliances and failure results in damages,

 

● Merrill Lynch fined $1.2 million for reconciliation and billing errors, Deutsche Bank fined $7.8 million for misreporting derivative buy and sell contracts, and JPMorgan

● Chase fined $2.05 billion for anti-money laundering compliance deficiencies.

 

With prebuilt connectors, an integrated financial institution is better positioned to withstand technological changes. It can integrate processes for deposit accounting, administration, loan processing, etc. to bring and improve data. Connectivity with used SaaS and on-premises applications become smooth, fast, and efficient. The solution provides a foundational support to transformation initiatives by lowering cost of ownership and encouraging innovation.

  

Another example is retail which is considered already as a disrupted industry. Retail organizations need to make faster altercations and rely heavily on new age technologies, i.e., customer-facing apps, SaaS-based applications, and legacy systems. Getting a holistic view of distributed retail data becomes difficult as numerous Business-critical applications run independently of each other. A b2b integration tool deals with such hybrid world challenges by enabling the best integration path for holistic data view, omnichannel purchasing, and improving customer journeys. It orchestrates data to enable apples with oranges or apple to apple comparison.

 

Let’s check out another use case related to challenges that obstruct healthcare industry players from accessing the benefits of digital transformation. Healthcare players are overburdened with Electronic Medical Record Systems (EMRs). After a transformation drives most healthcare companies to face challenges in getting a single view of IT system revolving around doctors, hospital staff, and patients. Interoperability inefficiencies arise between systems for patient engagement, care coordination, clinical workflows, etc. 


A comprehensive solution for B2B integration integrates enterprise systems and helps teams in orchestrating data related to behavioral, operational and areas. Simultaneously, it reduces the IT spend and cost overheads. By aligning technologies with business objectives, it helps teams in achieving continuous success from their investment. 



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