Modern businesses are looking to business integration tools to connect all components of a supply chain or operations. These tools help them improve communication and file sharing capabilities, which, in turn, help them deliver products and services to customers worldwide without breaking the budget or falling victim to constant delays.
Yet new research from the Corporate Executive Board revealed many CEOs around the world are ignoring the value and potential of business integration and collaboration tools. While business leaders are investing heavily in automated processing, they are failing to acknowledge the importance of integration solutions as well, as part of new computing systems that enable growth and expansion.
A lack of integration technology investments could force these companies to spend extra time and money sending out messages and making adjustments to operations throughout your enterprise.
Risks of ignoring collaboration technology
When a business leader fails to acknowledge the value of business integration technology to connect disjointed components of a supply chain and make information access and sharing easier throughout the company, he or she could open the organization up to several risks, including:
- Losing a competitive edge, market share or an opportunity to expand into a new region.
- Wasting employees' valuable time as they try to chase down information scattered throughout the supply chain.
- Making costly, misinformed decisions based on inaccurate or outdated data.
In the highly competitive, volatile economic climate, companies of all sizes cannot afford to skimp on IT solutions that will boost efficiency, reduce delays and enhance expansion efforts. Business executives must stay abreast of the latest products and best practices in business integration technology to remain on the cutting edge and equip staff with appropriate tools for long-term success.