Change is inevitable in the B2B market over the next decade. But what does that change mean for B2B integration? At the beginning of the year, we shared predictions from Axway experts on what the future might hold. Six months in, we dove further into the topic at Axway Summit. The overarching message: B2B integration will need to become a more symbiotic ecosystem so businesses can continue to innovate and thrive.
What will enable this harmony? It comes down to four key elements.
#1: Hyper interconnectivity
The number of suppliers big brands work with is staggering. BMW has a network of 12,000 business partners, while Walmart’s network includes 100,000 business partners. Naturally, these wide partner nets, which only continue to grow, add to the complexity of B2B ecosystems.
Format-agnostic B2B integration platforms will become more integral in supporting connectivity across the board. That way, businesses can support both traditional and modern forms of file transfer from one central location.
It’s also about creating a more open B2B ecosystem. For instance, the travel industry has dynamic pricing based on timing and demand. Businesses must work with their suppliers to develop models that support these dynamics and inject those elements into their B2B environment.
#2: Artificial intelligence
In his book The Coming Wave, Mustafa Suleyman — the CEO of Microsoft AI — cites an exciting use case of AI. When artificial intelligence was applied to a multibillion-dollar data center cooling optimization project, the results were a 40% decrease in energy use.
“Civilization’s appetite for useful and cheaper technologies is boundless,” Suleyman concludes – and that is unlikely to change.
This use case is a nod to the power of AI in supporting business decisions. Applied uniquely across various industries, AI helps businesses make sense of unstructured data and offers helpful optimization recommendations.
In B2B integration, AI-driven technology will play a key role in helping businesses effectively forecast while proactively addressing issues. The human touch will remain critical in strategically handling AI analytics and insights.
#3: Flexibility, reliability, & security
Did you know McKinsey analysts have concluded that 40% of what’s included on IT balance sheets relates to costs put toward developing remedies for existing technology issues?
Statistics like this help explain the expected growth of cloud-native solutions in the coming years. While a driver for scalability, these solutions support new distribution use cases on a global scale with their elasticity and accessibility.
Experts also anticipate heavy investments in security. Proven to decrease the likelihood of data breaches, the Zero Trust security model has become the standard for B2B integration.
This idea of never trust, always verify will color how businesses transfer data — alongside AI-driven threat detection to help safeguard EDI ecosystems.
#4: Sustainability first
Investing in sustainability initiatives comes with a cost. But in the long run, it’s ultimately more cost-effective as you can consolidate resources — with cloud-shared resources being one example.
As we’ve alluded to above, cloud solutions enable hyper interconnectivity, scalability, and smart compliance. Having one collaborative ecosystem to support B2B transactions means businesses can spend less time maintaining extensive, energy-intensive data centers and more time on innovation.
Centralization of B2B integration also supports greater supply chain transparency.
For instance, if you’re a manufacturer, you can easily trace your environmental impact and carbon footprint as it relates to your material flow. Being able to monitor such logistics helps manufacturers reduce their impact.
Be on the winning side of the B2B market race
In 1958, the average lifespan of companies listed in the S&P 500 was 61 years. That number has dwindled to 18 years because of acquisitions, mergers, and bankruptcies.
The unfortunate reality is that not all companies will succeed, especially in today’s market. But when you invest in modernizing critical business systems — B2B integration included — you position yourself to thrive in the next ten years and beyond.
There will always be reasons to put modernization efforts on the back burner. It could be a matter of budget constraints, resistance to change, or lack of skills.
At Axway, we help businesses navigate these changes in a flexible, first-class way. Our experts work with you to deliver cost-effective, tailored B2B integration solutions that help you succeed today and tomorrow.
Meet six companies succeeding with a modern B2B integration infrastructure.