89 percent of Companies Struggle with Data & System Integration Backlog
While companies scramble to embrace digital transformation and modernization, many are stopped short due to issues with data and system integration. To understand this better, we conducted a market study with IDG. What did we find out? First, we discovered that companies have anywhere from 100 to 300 applications in use, 185 on average..
We also found that integrating data and workflow between these applications is an enormous struggle. Most organizations (89%) say they currently have a data integration backlog regardless of whether integrations are handled completely in-house or with the help of third parties.
So, we examined the challenges and opportunities related to enterprise integration and automation. Findings indicate that companies need to sync data and build automation between hundreds of applications without point-to-point integration, but building these integrations is time consuming and requires a lot of resources. It is no surprise that 74% of these companies cite resource constraints as their primary obstacle to integration and automation.
Results suggest that iPaaS - Integration Platform as a Service is the way of the future, a foundation for digital transformation. According to Gartner, iPaaS is one of the fastest-growing enterprise software market segments. The global iPaaS market is projected to reach $2.7 billion by 2024. Organizations are turning to iPaaS as it is the only viable method of synchronizing data and building automations between all these tools on a single platform without using individual point-to-point integrations.
Organizations simply can’t keep up with the integrations they need as new applications are introduced or swapped out, and as resources turn over. The struggle is to keep up with the pace and to sustain the level of integrations needed. The study reveals that 27% of companies have already invested in iPaaS and another 66% have plans to do so in the next 12 – 24 months.
Respondents cite many potential benefits:
o Better security (78%)
o Seamless addition of new integrations (78%)
o Better visibility into LOB integration activity (71%)
o Reduced burden on IT teams (70%)
o Ability to easily add automation rules (63%)
TeamDynamix offers a low-cost way forward. Using iPaaS, companies leverage a library of pre-built connectors to common platforms such as Workday, DocuSign, Salesforce, Ellucian Banner, and hundreds more. With a visual flow builder, users can create workflows or synchronize data without any coding or scripting.
With an integration and automation tool like iPaaS, businesses of all sizes can easily resolve their enterprise integration backlog struggles. Using iPaaS has many benefits, the most important being that it revolutionizes how companies manage data integrity and enterprise-wide automation. Rather than building integrations from one application to another (a time-consuming task) and using the workflow engine inherent in each individual application, companies can join all applications to one data integration and automation platform. This provides better security, visibility and workability.
Finding the Right iPaaS Vendor for Your Company
When it comes to finding the right enterprise integration and automation tool for your business, you’ll want to find a company that offers iPaaS with predictable pricing and unlimited usage. Oftentimes, cost can be a big prohibitor when researching new technology – especially when budgets and resources are already limited.
When you’re evaluating iPaaS vendors for pricing, here are some questions you should ask:
• Does this vendor provide a simple and understandable price for my workflows regardless of how many connections I am using? Am I able to transparently understand their pricing approach?
• Will this price remain the same on a per flow basis even if my business needs change and I need to connect more applications or systems to my workflow or add new business logic?
Other things to look out for in an iPaaS vendor include:
• Ease of use.
• Speed of deployment.
• Modern and scalable architecture.
• Security, compliance and governance.
If you want more tips, including questions you should ask potential vendors, check out our iPaaS Buyer’s Guide.
The right iPaaS tool can be a game-changer for any business, allowing you to achieve a high level of success in a sustainable way – a true differentiator in today’s competitive business world. To learn more about iPaaS from TeamDynamix visit: www.teamdynamix.com/ipaas.
Andrew is the Chief Product Strategist for TeamDynamix. His passion lies in helping organizations thrive in an ever-changing environment. As a co-founder of TeamDynamix, Andrew is well versed in the common issues facing IT leaders– as the need for increased IT Maturity rises, he is able to help map out a way forward.
Andrew believes that success comes when customers, team members, and the company are all aligned. In his role, he uses his insights to focus on customer lifecycle strategy; building a strategic product vision that will ensure customer success in both the short and long term. Andrew heads up the TDX Advisory Boards, CIO Council, and Focus Group Program. He also works closely with partners for strengthened integration and cooperative vision.