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Spend Matters welcomes this sponsored article from Mark Morley, director of strategic product marketing at OpenText.
In my previous Spend Matters post, I discussed how disruptive technologies are driving new supply chain initiatives. From drones, wearable devices, 3-D printers and the internet of things, today’s businesses have never faced so much disruption from new technologies.
CIOs around the world are embracing digital transformation across their extended enterprises, and to underscore this point OpenText recently sponsored a study with analyst firm IDC. (I will discuss more about the key findings from this study in a moment.)
Successfully deploying a B2B integration strategy across a supply chain is key to driving improved performance and competitiveness in the market. There are many different ways, however, to deploy a B2B integration strategy. Quite often, the right choice is dependent on the budget, resources and the on-premises, cloud or hybrid approach that can be used.
To better understand the different options available to companies, OpenText recently sponsored a webinar with Forrester that explores the different B2B integration options available to companies and the benefits that can be obtained. Many companies are in the process of deploying a digital backbone to support their future digital transformation initiatives, and taking the correct approach to B2B integration can make or break a digital transformation strategy. Ensuring external trading partners can exchange information seamlessly with your internal enterprise systems is a challenge faced by many companies. Forrester provides some interesting insights into the different B2B integration options available, from using APIs through to web services based integration and B2B outsourcing. The choice is yours!
To test the hypothesis of whether companies are restructuring supply chains to support digital transformation initiatives, OpenText sponsored a new research study with IDC. We surveyed 254 companies across seven countries and four key industry verticals. We will make the white paper available in the near future, but I just wanted to highlight some of the key findings:
- 50% of digital transformation initiatives are customer driven
- 57% of respondents are using digital transformation to enable new capabilities across the supply chain
- 38% of respondents are implementing a digital backbone across their business
- 47% of respondents are consolidating IT infrastructures in support of new digital transformation initiatives
To enable a digital transformation strategy across a supply chain, companies need to carefully think about their B2B integration strategy. The study showed that 70% of companies were looking to leverage cloud based B2B networks to support their B2B integration strategies and this certainly makes sense for the manufacturing industry which is truly global in nature. The cloud provides manufacturers with the flexibility and scalability they need to support their global production operations and scale production according to consumer demand or market conditions. The study also highlighted:
- 31% of respondents said that a lack of internal resources is limiting their execution of new digital transformation projects
- 66% of respondents are considering using an outsourced approach to B2B integration so that they can focus their internal resources on new digital transformation initiatives
We will be running a couple of webinars with IDC in the near future, and further information will be made available shortly.
OpenText B2B Managed Services can help support your B2B integration requirements while you focus on your digital transformation initiatives. More than 600,000 companies today rely on OpenText’s Business Network for exchanging business transactions across their supply chains. In fact, more than 18 billion B2B transactions are processed across our Business Network every year. B2B Managed Services can provide the foundation for your digital transformation strategy, seamlessly connecting external trading partners to your internal business systems. For more information on how B2B Managed Services can support your supply chain transformation requirements, please visit our website.