Interoperability as a catalyst for untangling value

Enterprises across the world are navigating a difficult and uncertain economic environment. In these unpredictable times, enterprises need to quickly adapt to new circumstances, adopt innovative technologies, and remain nimble in order to thrive. With the integration of various #enterprisesoftware applications and technologies, people, and processes, they can untangle value from chaos, optimize costs and accelerate growth.

Accenture surveyed ~1,300 C-suite respondents from mid-to-large companies in Asia-Pacific, Middle East, Africa and Latin America regions (across 15 countries and 19 industries), and it was observed that multi-application environments are increasing. On average, 72% of enterprises in these markets reported using more than 500 enterprise applications across their organization – that’s 10% higher than the global average of 62%.

While diversity in enterprise application providers is great – but as these deployments mature, companies need to ensure that their technology stack does not create silos and trap value. #interoperability becomes a key value differentiator in this environment to maximize value. When companies spend substantially on their applications and platforms, they need to have a well thought out strategy for interoperability to connect diverse systems with business goals. At its core, interoperability connects technology, people, and processes. It does so by creating a common language across critical applications and systems, enabling a deeper understanding of data without the cost and effort of building a data lake. When data silos are removed, functional silos can begin to collaborate. This inherent synergy reduces duplicative efforts, reveals hidden bottlenecks, and builds better human connections.

Some of the advantages of interoperability in a multi-application environment are:

·???????Reduced data entry errors. When different applications can share data, employees don't have to manually enter the same information into multiple systems. This reduces the risk of errors and saves time.

·???????Improved communication and collaboration. Employees can use a single platform to access all the information they need, regardless of which department or team they're working with. This can improve communication and collaboration, and help employees get their work done more efficiently.

·???????Faster resolution of customer issues. When different applications can communicate with each other, employees have access to all the information they need to resolve a customer issue, they can do so more quickly. This can lead to happier customers and increased customer satisfaction.

·???????Improved decision-making. Interoperability can help employees make better decisions by giving them access to more data and insights as they can use data from multiple applications. For example, a sales manager can use data from multiple systems to identify the best leads to target. With this, the employee can make better decisions and effect increased sales and reduced costs.

Accenture’s research also found that in the last two years alone, one in two have had to transform multiple parts of their business at the same time or execute a single large transformation much faster than ever before. The question is: How did they do it? Research found that companies with this kind of agility have one thing in common: high interoperability, or the ability to make enterprise applications work in conjunction with each other. Why? Because interoperability integrates critical business applications, turning tangled inputs into a single source of data truth. This leaves organizations more agile and better equipped to pivot quickly and take advantage of new opportunities.

The research found that companies with high interoperability in Asia-Pacific, Middle East, Africa and Latin America regions grew revenue 2.5X faster than their peers with low interoperability and are set to unlock an additional three percentage points in annual revenue growth. It comes as no surprise, then, that winning companies make interoperability a priority for the entire C-suite—not just the CTO or CIO.

CXOs need to understand that integrated enterprise applications can enable businesses to move from siloed technology and fragmented data to connected solutions, agility, and resiliency. Integration unlocks true #businesstransformation, creating additional value in meeting customer demands, developing new revenue streams, and competing in the market. But it also requires new methods of thinking and working.

Here are some potential use cases on how enterprises can amplify speed to value through interoperability leading to improved #employeeexperience and superior #customerexperience:

·???????Customer Relationship Management (CRM) Integration: Integrating CRM systems with other applications like email, chat, and social media platforms can provide a unified view of customer interactions. This interoperability allows employees to access customer data and communication history from a single interface, leading to more personalized and efficient customer interactions. It also enables employees to collaborate better and share relevant customer information, resulting in a seamless customer experience.

·???????Omnichannel Communication: Interoperability between communication tools, such as email, phone systems, messaging apps, and customer support platforms, allows employees to communicate with customers seamlessly across multiple channels. This integration ensures that employees have access to the complete communication history regardless of the channel used, enabling them to provide consistent and context-aware customer support. Customers benefit from a unified experience, being able to interact with a business through their preferred communication channel.

·???????HR and Collaboration Tools Integration: Integrating HR systems with collaboration tools like project management platforms and employee directories enhances the employee experience. For example, employees can easily access project information, view team members’ availability, and assign tasks within a unified interface. This interoperability streamlines internal processes, promotes collaboration, and improves overall employee productivity and satisfaction.

·???????E-commerce and Inventory Management Integration: Integrating e-commerce platforms with inventory management systems improves the customer experience by providing real-time visibility into product availability. When a customer places an order, inventory data is automatically updated, allowing customers to make informed purchase decisions. Employees can manage inventory levels more efficiently and avoid overselling or stockouts. This integration streamlines the order fulfilment process, reducing delays and improving overall customer satisfaction.

·???????Payment Gateway Integration: Interoperability between payment gateways and other business applications, such as e-commerce platforms or invoicing systems, simplifies the payment process for customers. It allows for various payment methods, such as credit cards, digital wallets, and bank transfers, to be seamlessly integrated into the customer checkout experience. By providing a secure and convenient payment process, businesses can enhance customer trust and satisfaction.

These are just a few examples of how application interoperability can help businesses create a seamless and efficient workflow, resulting in enhanced productivity, customer satisfaction, and overall business success. To improve interoperability, companies must leverage the #cloud, utilize #composable tech and focus on meaningful collaboration. To learn more about how enterprises can use interoperability as the catalyst for #totalenterprisereinvention, read the report published by Accenture: Interoperability - Value untangled.