Sometimes, it’s hard to see the forest for the trees. The popularity of business applications for almost every function and cloud service is growing exponentially worldwide. According to Allied Market Research, the global integration platform as a service market was valued at $3.4 billion in 2021 and is projected to reach $37.9 billion by 2031, an increase of 27.5%.
These figures highlight the value of integration platforms in combining the scattered tools used in a project, creating endless possibilities for Australian businesses. However, by adopting modern business applications and platforms to assist us in our daily work lives, we can lose sight of how hampered a business can become when there’s an outage.
Adopting the right platform for your business can be half the battle. So, what criteria will influence whether the integration platform you’re looking at will suit your company? This article looks at some considerations of integration platforms you might want to consider to ensure you have the right tool at your fingertips.
Source: Allied Market Research
An Integration Platform as a Service (iPaaS) is a tool that connects disparate systems to communicate and share information. iPaaS solutions enable scalable connectivity and secure real-time data exchange between different applications across various platforms. With the increasing complexity of IT environments in the modern era, iPaaS has become a critical tool for businesses looking to enhance their operational capabilities and enable agility to adapt to market forces.
To understand where an iPaaS operates, you must first understand the problem that most businesses face. We work in an era where we rely upon a technology stack to assist us through our daily processes. Small and medium-sized enterprises (SMEs) usually have eight to 30 applications required to run their business, while large enterprises range from 80 to 120-plus applications. For example, if you were trading from an eCommerce website, your users must alternate between several applications and copy information or exchange data from applications A to B. Consequently, the site’s finance system may experience lagging on the operational side due to the reliance on heavy data exchange.
There is also a significant risk of human error and delays when transferring information due to being under-resourced (e.g. if a person is away and these processes are not carried out). For a business to operate efficiently and be agile enough to scale alongside an expanding business, there needs to be a way of automating the transfer of information between critical business systems.
Although you could compare platforms on a feature-by-feature basis, it makes sense to consider what works best for your business. All integration platforms connect to other systems and transform data from the source to the destination. However, not all integration platforms can be implemented quickly and cost-effectively, as many have evolved from a time when only large enterprises required them; this made them feature-rich but costly to own/use.
While it may seem obvious, not all platforms are equal. Several of our numerous consulting engagements were less than reliable, meaning we implemented workarounds to mitigate any reliability issues. Integration platforms, such as SiPHON, ensure your system is solid and reliable when exchanging data between disparate systems. SiPHON boasts an uptime of 99.95%, meaning you rarely experience downtime or data loss. This consistency is crucial for maintaining business operations. Reliable integration ensures that all parts of the business work harmoniously.
iPaaS accelerates integration processes with pre-built connectors that facilitate quick setup and deployment. Rapid integration enables businesses to respond quickly to market changes or pivot as necessary. Faster integration times mean businesses can meet customer demands promptly and stay ahead of competitors.
The speed of implementation and the speed of the actual platform are also considerations. Many integration platforms work fine when performing scheduled tasks. Still, if information is required to transfer between systems instantly, you must ensure that the platform you assess can truly handle real-time data transfers.
The cost factor side of this consideration has multiple aspects. The first aspect of this is the subscription price, which needs to start out low and incrementally increase with use. Second, the resources required to run and maintain the platform must also be considered. Finally, how this platform will be hosted plays a factor in the total cost of ownership (TCO). By adopting a cloud-based integration platform (note: not all iPaaS are truly cloud-based products), businesses can reduce costs associated with maintaining a custom integration infrastructure.
Your business no longer needs to fork out for extensive IT infrastructure, as your iPaaS provider can handle any infrastructure and software updates. This arrangement often appeals to SMEs that may not have the budget to accommodate extensive custom integrations.
Juggling a disconnected technology stack can take up a lot of your day. Modern integration platforms are also designed with user-friendly interfaces, facilitating faster implementation across the organisation. The more usable the interface is, the lower the barrier to entry your team needs to own and manage the iPaaS.
Integration platforms are used across various-sized industries to streamline their processes and operations. These real-world applications demonstrate the necessity of integration platforms in the modern, interconnected business environment.
In manufacturing and distribution, integration platforms can manage large data volumes in real-time and ensure secure access across an existing infrastructure network of suppliers and trade customers.
In the retail industry, integration platforms can link e-commerce platforms with inventory management systems, providing accurate stock levels and improving customer satisfaction.
Adopting an integration platform can significantly transform your business. Integrating the various systems that keep your business humming into one cohesive system can save you time and build your business with great scope for scalability. Integration Platform as a Service offers solutions for improving connectivity and data exchange without the overhead costs of managing the integration infrastructure. Investing in the right integration platform can provide long-term benefits, including improved operational efficiency, reduced costs, and enhanced agility.
Ready to transform your business with seamless integration? Creative Folks can integrate your technology stacks to ensure they talk to each other. Our iPaaS, SiPHON, delivers and manages fast, low-cost data connectivity with guaranteed uptime and performance.
SiPHON is built on serverless technology and composability principles. It connects disparate systems, consolidates data flows, and reduces the total cost of ownership. Visit our website to learn how SiPHON can transform your business.