Companies doing business internationally, regardless of their size, have a business need for foreign exchange (FX) data. Reliable and timely currency information is key to maintaining accurate financial and accounting processes and pricing strategies. This is easier said than done.
The OTC (over-the-counter) nature of the FX market makes it opaque, decentralized and fast-moving, with trillions of dollars’ worth of transactions happening on a daily basis. This causes inconsistency in pricing and creates an environment that makes it difficult for corporations to access accurate FX data.
The bad news is right on top of our new infographic, The Case for the Connected Business: 89 percent of organizations suffer drawbacks from poor integration, and 59 percent of IT professionals say poor integration is their “Achilles heel.”
But scan down the infographic, and there’s good news: roughly 75 percent say that modern, cloud-native integration is making their organizations smarter and faster, and that’s helping them generate millions of dollars in new revenue.
The sales landscape has changed for independent software vendors (ISVs). Customers no longer buy applications based strictly on traditional characteristics such as functionality and scalability.
With software as a service (SaaS) applications becoming the norm, ease of integration has emerged as a key consideration for organizations as they assess their software options. Companies want new apps to plug and play across diverse environments of best-of-breed cloud and on-premise systems. The last thing they want is a complex and months-long integration project.
Steve Wood, Boomi’s new chief product officer, is a serial innovator. Previously a vice president at Salesforce, Wood founded the low-code workflow development platform vendor ManyWho, acquired by Boomi in 2017. That technology is now the foundation for Boomi Flow, a key part of Boomi’s unified platform for helping its customers build connected businesses.
We sat down with Steve to learn about his new job in helping lead Boomi technology innovation and his vision for evolving the Boomi platform.
There’s a lot of research out there that says B2B integration can make or break your business. In fact, industry analysts have called out B2B integration as one of the top three critical integration scenarios that businesses face.
B2B integration run by electronic data interchange (EDI) makes it possible to effectively manage your partner network — vendors, suppliers and distributors. While EDI is the most established method for running B2B networks, organizations are facing multiple challenges with this decades-old technology:
- Inflexible, legacy EDI systems that were not built to integrate with new cloud-based applications
- Inability to support business initiatives for mobile applications and API connections
- Complicated troubleshooting and error resolution
- Lack of end-to-end supply chain visibility
- Slow partner onboarding
To learn more about how Boomi’s low-code, cloud-native integration platform can deliver hassle-free integration and EDI management, please attend our upcoming webinar, “Managing Your B2B Transactions in the Cloud.”
EDI Is Great, But…
Studies conducted by a host of organizations like GS1 UK confirm the continuing value of electronic data interchange (EDI).
Whether checking in a new patient, delivering vital clinical information at the point of care, or teaming with third-party services, healthcare providers and payers must integrate a diverse set of systems to operate effectively.
To achieve the improvement needed for value-based care, healthcare providers and payers face several data hurdles, including regulatory compliance and industry standards, outdated healthcare IT systems, and managing the complexities of mergers and acquisitions.
Ensuring Compliance With Regulatory and Industry Standards
Healthcare organizations must navigate a complex regulatory landscape that changes frequently.
Trustworthy data that can help guide key business decisions is critical to any organization’s success. But today, putting the right tools and processes in place to ensure access to accurate information is more challenging than ever.
Stakeholders are adding more and more data sources to their hybrid IT landscape. Traditional data management tools are failing to meet the needs of these organizations that have more complex environments. As a result, demand for new and more agile MDM tools continues to rise.
Coupa helps organizations gain greater visibility and control over how they spend money. Their cloud-based suite of business spend management applications provides a rich set of software for automating the workflows guiding procurement, expenses and accounts payable tasks.
To be most effective, Coupa needs to connect with key data about employees, suppliers, accounts and vendors. Large companies and corporations typically must build a number of interfaces into their other systems (especially ERP) to get the right data into and out of Coupa.
Across the globe extreme weather events and natural disasters routinely bring disruption, chaos and economic hardship to communities and businesses.
For example, in New Zealand where my IT consultancy Adaptiv Integration is headquartered, hard-working teams in the utility and local and central government sectors face constant pressure to respond 24x7x365 to the impact of natural and man-made events. And not always successfully.
Natural catastrophe and extreme weather events have topped the list of perceived risks to New Zealand in the World Economic Forum’s Global Risks report for 2018.