In today's digitally-connected world, businesses need to connect and communicate quickly and reliably across their ecosystem.
While connectivity, communication, and collaboration are important for an organization, their integration strategies are equally important. Since B2B connectivity is difficult to execute, many enterprises switch to cloud managed services for streamlining their specialized processes and increasing revenue growth.
Switching to B2B Integration Solution is Important
Business to Business (B2B) integration solution allows companies automate business communication by integrating critical applications. It helps businesses establish a connection, communication with ecosystem entities such as customers, suppliers, service vendors, and partners.
B2B integration is important as it allows files and messages to be exchanged with its trading partners. Each business employs a diverse mix of systems, applications, and cloud that require B2B protocols, formats, and security as well as governance considerations. B2B integration solutions help these different applications communicate and exchange business-related information seamlessly with each other. B2B integration also helps to improve external logistic workflows across the value and supply chain ecosystem. It also strengthens other systems like end-to-end process execution, supply chain visibility, end-to-end execution, and global community management.
B2B Integration Functions and Components
Integration process involves extracting information from an internal source application and transferring it to an end-source application with the help of a secure data integration platform. The platform can be either cloud-based or on-premise or a combination of both. Further, B2B services, as well as platform providers, must provide adequate support to cloud integration as well as hybrid integration scenarios.
For better understanding, let us delve into the components of a standard B2B integration procedure.
Collaboration Portal
The integration platform is equipped with a web-based portal that allows users and their customers to create connections from a single interface. This fosters collaboration and allows organizations resolve issues or problems without delay.
Shared Templates
With pre-defined transaction templates, modern integration solutions modern B2B integration software allows faster connection and simpler B2B data exchange.
Application Connectors
With multiple pre-built application connectors like Shopify, NetSuite, Salesforce, MS Dynamics, CRM, Marketo, Xero, Dropbox, Google Drive, and more, integration platforms enable companies create data connections and directly exchange information with these applications.
Monitoring Dashboard
B2B integration software entails a dashboard that allows business users view the information in real-time. A dashboard also allows seeing the historical logs and history of what data has been processed. Therefore, this component proves elementary in helping users verify data for errors and problems to maintain the sanctity of data.
Apart from these components, the integration platform consists of other components such as transport protocol, data format, source application, data mapping, and more.
Benefits of B2B Integration Software
B2B integration services provide multiple benefits on the basis of the industry organizations belong to. Let us explore what these are:
Finance: B2B integration software establishes a connection between multiple banks and brokerages. Along with that, it provides robust security, governance, and audit trail capabilities, as well as the real-time visibility, needed to cater satisfying banking services to customers.
Logistics: B2B integration software services enable high-volume logistics enterprises to streamline the process of accurate and timely delivery of shipment confirmations, purchase orders, and advance ship notices.
Manufacturing: B2B integration software allows companies exchange customer and supplier information over various SFTP connections, and use AS2 to securely communicate with your bank, supporting their workflows.
Healthcare: Modern B2B integration solutions can be used to connect entities such as hospitals, labs, doctor's offices, insurance providers, and other medical-type facilities in a secure way. Plus, this solution can substitute VAN as well as automate enrolment as well as payment processes, claims, authorizations, and etc.
Software: Enterprises can integrate a lot of customers and handle enormous data volume with the help of B2B integration software. It helps technologically-oriented enterprises to maintain uptime and improve SLA.
Retail: Modern integration software helps the retail industry to convert documents into XML format to handle and alleviate chargebacks, time, and resources.
Apart from these benefits, B2B integration software is responsible for reducing manual interventions to increase onboarding and productivity. It also helps IT teams to remove the burden to participate in operations and focus on governance instead. As a result, IT productivity increases substantially. To add, B2B integration services offer comprehensive visibility, allowing increased responsiveness and improved customer service and making businesses easier to do work with.
