“Enterprises need to extend B2B processes to external applications and exploit APIs – gone are the days when enterprises could maintain competitive positioning and meet customer expectations with a ‘good enough’ approach to B2B integration.” - Saurabh Sharma, Senior Analyst, Ovum
PHOENIX – May 10, 2016 – Axway (Euronext: AXW.PA), a market leader in digital business enablement, and Ovum, a leading global technology research and advisory firm today announced the results of a survey of 450 senior IT decision makers across North America, Latin America, Europe and Asia Pacific to determine how organizations are preparing to meet the needs of today’s digital economy. Conducted by Ovum, the study1 found that 75 percent of organizations are planning to invest in IT infrastructure modernization projects to meet skyrocketing customer and partner expectations and to ensure compliance with increasingly complex regulatory mandates.
“Digitalization and the need for greater agility call for a holistic approach to integration to improve adaptability to new business models,” said Saurabh Sharma, senior analyst, Ovum. “Vendors such as Axway with deep domain knowledge in a breadth of integration patterns are at the forefront of helping organizations adopt a new approach vital for succeeding in the digital era.”
Despite many digital business initiatives companies have been undertaking in recent years to achieve what Axway calls “omnipresence” – the ability to rapidly deliver delightful digital experiences connected to any data, on any device, at any time – the survey reveals:
- the majority of organizations (57 percent) are relying on B2B integration gateways that are more than five years old, often lacking API Management, to support new digital business initiatives,
- 77 percent of respondents noted that the risk of B2B transaction failures could have critical business consequences, including service level agreement violations,
- 71 percent find that compliance issues are a significant challenge, and
- 67 percent consider revenue loss as the leading risk of not meeting the above issues.
In addition, 64 percent of organizations are currently using or planning to use APIs within two to three years to address the integration challenges presented by traditional approaches and to improve the customer experience.
The study evaluated the IT and business challenges associated with traditional solutions such as EDI to determine the importance of adopting APIs. More than 50 percent of respondents noted a lack of end-to-end visibility, non-compliance with data security regulations and limited integration with backend systems as potential issues.
“Organizations understand that the transition to digital is a business imperative,” said Jeanine Banks, executive vice president, global products and solutions, Axway. “While the ‘why’ is well-understood, the ‘how’ of a digital transformation journey is not as clear. As Ovum found, however, by starting with a more modern and integrated approach to B2B infrastructure, including the use of EDI and APIs, organizations can capitalize on the benefits of generating new revenue streams by connecting with customers and partners in new ways, while still ensuring security and compliance.”
Download the infographic, here.
¹Developing an agile and holistic B2B integration strategy for digital business success, Saurabh Sharma, Ovum, March 2016
Axway (Euronext: AXW.PA) empowers more than 11,000 customers worldwide to collaborate smarter, innovate faster and engage better with their partners, developers and customers. From integration technology that securely connects people, processes and things to an engagement platform that enables API management, identity management, mobile app development and analytics, Axway solutions are enabling digital business. Axway is registered in France with headquarters in the United States. More information is available at: www.axway.com.
Ovum is a leading global technology research and advisory firm. Through its 180 analysts worldwide it offers expert analysis and strategic insight across the IT, telecoms, and media industries. Founded in 1985, Ovum has one of the most experienced analyst teams in the industry and is a respected source of guidance for technology business leaders, CIOs, vendors, service providers, and regulators looking for comprehensive, accurate, and insightful market data, research, and consulting. With 23 offices across six continents, Ovum offers a truly global perspective on technology and media markets and provides thousands of clients with insight including workflow tools, forecasts, surveys, market assessments, technology audits, and opinion
Ovum is a division of Informa plc, one of the leading business and academic publishing and event organisers globally, headquartered in London. Informa is quoted on the London Stock Exchange.