Axway, market leader in solutions that enable digital business, and Ovum, technology research and business consulting firm, conducted a survey of 450 senior IT professionals and decision makers across North America, Latin America , Europe, Asia and Pacific to determine how organizations are preparing to meet the needs of today's digital economy. The “Developing an agile and holistic B2B strategy for digital business success” study revealed that 75% of companies plan to invest in IT infrastructure modernization projects to meet ever-increasing expectations from customers and partners and to ensure compliance with regulatory requirements more complex.
“Digitalization and the need for greater speed calls for an integrated approach to improve adaptability to new business models,” said Saurabh Sharma, senior analyst at Ovum. "Vendors like Axway, with deep expertise in a range of integration patterns, are at the forefront of helping organizations adopt a new approach vital to success in the digital age."
While several companies have taken digital business initiatives in recent years to achieve what Axway defines as ubiquity (the ability to quickly deliver delightful digital experiences connected to any data, on any device, at any time), research has shown what:
· Most organizations (57%) is trusting B2B integration gateways with an average age of more than five years, often lacking API management to support new digital business initiatives.
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· 77% of respondents noted that the risk of failure in B2B transactions can have critical business consequences, including service level agreement violations.
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· 71% define these compliance issues as significant challenges.
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· 67% consider the loss of income as the main risk for not meeting the questions above.
Furthermore, 64% of organizations currently use or plan to use APIs within two to three years to address the integration challenges presented by traditional approaches and to improve the customer experience.
In the evaluation of Marcelo Ramos, Senior Vice President and General Manager of Axway for Latin America, the study proves that “the market already sees the need to adopt digital business strategies as irreversible, and the trend is that there is an increasing demand higher for projects that make these initiatives viable. In addition to the IT infrastructure, the challenge for companies will be to transform the culture to ensure that the customer experience is at the heart of the new strategy”.
The study also analyzed the business and IT challenges associated with traditional solutions, such as EDI, to determine the importance of API adoption. More of 50% of respondents noted a lack of end-to-end visibility, and lack of compliance with data security regulations and limited integration with backend systems as potential issues.
“Companies understand that the transition to digital is a business imperative,” said Jeanine Banks, Executive Vice President of Global Products and Solutions at Axway. “While the reason for a digital transformation journey is well understood, how to accomplish it remains unclear. As the Ovum study shows, however, starting with a more modern and integrated approach to the B2B framework, including the use of EDI and APIs, organizations can reap the benefits of generating new revenue streams, connecting customers and partners in new ways. ways, while continuing to ensure safety and compliance.”
To access the study in full, click on here.
“Digitalization and the need for greater speed calls for an integrated approach to improve adaptability to new business models,” said Saurabh Sharma, senior analyst at Ovum. "Vendors like Axway, with deep expertise in a range of integration patterns, are at the forefront of helping organizations adopt a new approach vital to success in the digital age."
While several companies have taken digital business initiatives in recent years to achieve what Axway defines as ubiquity (the ability to quickly deliver delightful digital experiences connected to any data, on any device, at any time), research has shown what:
· Most organizations (57%) is trusting B2B integration gateways with an average age of more than five years, often lacking API management to support new digital business initiatives.
·
· 77% of respondents noted that the risk of failure in B2B transactions can have critical business consequences, including service level agreement violations.
·
· 71% define these compliance issues as significant challenges.
·
· 67% consider the loss of income as the main risk for not meeting the questions above.
Furthermore, 64% of organizations currently use or plan to use APIs within two to three years to address the integration challenges presented by traditional approaches and to improve the customer experience.
In the evaluation of Marcelo Ramos, Senior Vice President and General Manager of Axway for Latin America, the study proves that “the market already sees the need to adopt digital business strategies as irreversible, and the trend is that there is an increasing demand higher for projects that make these initiatives viable. In addition to the IT infrastructure, the challenge for companies will be to transform the culture to ensure that the customer experience is at the heart of the new strategy”.
The study also analyzed the business and IT challenges associated with traditional solutions, such as EDI, to determine the importance of API adoption. More of 50% of respondents noted a lack of end-to-end visibility, and lack of compliance with data security regulations and limited integration with backend systems as potential issues.
“Companies understand that the transition to digital is a business imperative,” said Jeanine Banks, Executive Vice President of Global Products and Solutions at Axway. “While the reason for a digital transformation journey is well understood, how to accomplish it remains unclear. As the Ovum study shows, however, starting with a more modern and integrated approach to the B2B framework, including the use of EDI and APIs, organizations can reap the benefits of generating new revenue streams, connecting customers and partners in new ways. ways, while continuing to ensure safety and compliance.”
To access the study in full, click on here.
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