Lightwell Business Technology Blog

With the right file transfer capabilities and processes in place, you can simplify and enhance your interactions with customers, suppliers, and other trading partners—to the point where the business benefits help to accelerate you past your competition.

At a high level, speeding partner onboarding, reducing the time and effort involved in partner management, improving security and compliance, and enabling greater visibility—all can play a key role in driving increased revenue and customer satisfaction.

Let’s take a closer look at how this works.

Business growth can be a double-edged sword. While increased revenues are never frowned upon, the downside manifests itself in the burgeoning data volumes that the organization must manage—particularly files that must be transferred between the organization, its customers, and its partners.

These challenges add reliability issues, compliance concerns, and security risks related to moving data, as well as challenges managing the volume and size of files moving through the systems.

As partner networks grow, companies find themselves managing multiple solutions for file transfer—and lack visibility from end to end. The typical enterprise supports three or more file transfer platforms—and as a result, have many disjointed file transfer processes and blind spots. This severely limits their ability to support the company’s growth initiatives effectively. 

However, enterprises that leverage a managed file transfer solution can gain critical capabilities for enabling—even driving growth. A centralized, enterprise-grade managed file transfer (MFT) platform allows for full visibility into file transfers and provides a better user experience for line of business users and partners alike. It also includes the security and audit trail capabilities necessary in today’s ever-changing alphabet soup of regulations, from PCI-DSS to Sarbanes-Oxley and beyond. Let’s explore this a bit.

Omnichannel order fulfillment is a double-edged sword. On one hand, you have multiple methods for fulfilling customer orders, and customers can choose whether they want orders shipped to them or picked up in store. This flexibility helps to make customers happy.

On the other hand, retailers have seen upwards of a 300 percent increase in what it costs to serve omnichannel customers. 

According to the Retail Industry Leader Association’s annual survey, as reported in Supply Chain Quarterly, executives identified controlling supply chain costs as a top priority, with order fulfillment and omnichannel costs being a part of the reason.

The good news is that tools exist to help reduce omnichannel order fulfillment costs and complexity. These tools leverage advanced capabilities like artificial intelligence, cognitive computing, and predictive analytics to optimize order fulfillment processes.

The transparency provided by these tools can help companies drastically reduce the cost to serve their omnichannel customers while still meeting consumer expectations of speedy delivery.

While there is no magic bullet to cost reduction, let’s take a look at three ways companies can use these advanced capabilities to improve the way they fulfill orders.

Managed file transfer solutions are gaining traction, particularly in financial services, telecommunications, and healthcare organizations. According to Research and Markets, the global managed file transfer (MFT) market is expected to grow at a CAGR of over 6 percent from 2017 to 2025 as more companies adopt these solutions.

However, adopting MFT technology isn’t enough; organizations need to make sure they back up the technology with a strategy that aligns with the organization’s goals, compliance needs, and end users.

The organizations that are most successful with MFT include five key pillars in their strategy. These underpin the technology with user adoption and confidence, allowing MFT to become as much a part of the organization as sending email—but more secure, and with better results. From introducing standardization in the technology itself to making sure end users know the how and why of MFT, highly effective MFT strategies include the following:

For retailers as well as B2B companies, order fulfillment plays a major role in both customer satisfaction and profitability. Customers expect flawless, fast order fulfillment across all channels.  While customer-centric companies work hard to meet these expectations, it can be very expensive to do so.

As customers purchase from your company across multiple channels—via the Web, mobile apps, kiosks, marketplaces, retail locations, and even catalog and telephone orders—you’ll want capabilities like centralized order orchestration, ship from store, drop ship, and real-time inventory visibility. These order management capabilities work together to meet customers’ expectations seamless, fast and error-free order fulfillment.

However, these capabilities alone don’t ensure companies can do so profitably.  In fact, while many CEOs have identified omnichannel commerce as a top priority, the IBM Consumer Expectations Study found that it could cost up to three times more to serve omnichannel customers.

Every channel adds complexity to the order fulfillment process. In addition, there’s pressure from customers and competitors to same-day or two-day shipping, making it even more critical to leverage modern technologies to fulfill orders in the most efficient, cost-effective way possible. In fact, the IBM study found that 72 percent of consumersconsider two-day or less shipping as a factor when making a purchase.

On top of using an omnichannel order management system, companies are now adopting solutions that can apply human reasoning and cognitive capabilities to order fulfillment. As a result, they’re able to meet or exceed customer expectations while reducing their fulfillment costs. Let’s take a closer look.

File transfers between an organization, its business partners, and customers can be fraught with challenges.

Today, organizations must support ever-increasing file sizes, types, volumes, and user numbers under severe budget constraints. Also, they must address extensive security requirements and compliance challenges, meet strict SLAs, and support the rapidly-changing needs of the business.

In the past, these challenges may have been viewed as technical problems, approached with an assortment of technologies and file transfer methods—including “free” technology such as FTP.  However, to keep pace with the evolving needs of the business, protect a wide variety of data, and mitigate risk inside and outside the enterprise, organizations have realized the need for enterprise-class managed file transfer solutions. 

In this post, I’ll explore these common challenges and the vital role these solutions play in overcoming them.

How Simplifying Trading Partner Onboarding Generates Many Surprising Competitive Advantages

The average enterprise’s B2B trading community includes hundreds of trading partners and requires IT support for managing a wide variety of connections, protocols, and formats. Unfortunately, when it comes to setting up and managing trading partners, many companies are still hobbling along with cumbersome, error-prone manual processes.

If you aren’t already leveraging cognitive technologies and artificial intelligence (AI) in your business network, you may be missing out on critical supply chain improvements.

Cognitive and AI systems use natural language processing and machine learning to understand, reason, learn about and analyze all types of data. Also, they can interact with users in a more natural, conversational manner.

For B2B networks and supply chains, these capabilities can be leveraged for a wide variety of improvements including:

• Providing greater visibility and insight—from high level to granular detail
• Enabling split-second decision making based on the best data available
• Increasing awareness of critical issues
• Suggesting the best courses of action 
• Fostering collaboration among departments and partners

With these capabilities like these, you can plan for (or avoid) disruptions, proactively handle potential issues with suppliers, and ensure you can meet or exceed customer expectations (among many other benefits). Let’s take a closer look at some of the AI and cognitive capabilities available for B2B operations and supply chains today.