Business Value of B2B Integration
Outsourcing business processes is a growing trend in today’s business structure. Since companies are more dependent on a multi-company collaboration structure, business-to-business (B2B) visibility and communications have become increasingly important. However, more than 50% of business-critical information is exchanged by expensive, paper-based processes instead of more efficient B2B integration technologies. In this report, GXS partnered with the Stanford Global Supply Chain Management Forum to understand the true business value of B2B integration.
Research Study Participants
A total of 92 individuals from 75 companies participated in this research study. These participants came from various sectors of business including consumer packaged goods, financial services, logistics, manufacturing and retail.
Budget Change for B2B Integration Technologies
When asked to estimate how their budgets would change over the next three years, 62% of participants answered that their B2B budgets would increase, while 31% said budgets would not change and only 7% said that their budgets would decrease.
With the majority of participants forecasting an increasing budget, it appears that companies will have more opportunities to modernise their B2B integration technologies.
Expected Change in Transaction Volume
Participants were also asked to estimate how their company’s B2B transaction volume will change over the next three years. The survey showed that 97% of the participants estimated that their transaction volume would increase, while only 3% said that their company’s transaction volume would not increase.
With such a significant increase in overall transaction volume, it is vital that your company tracks all of your new transactions. In order to streamline your transactions and grant your business partners full visibility, an updated B2B integration technology becomes essential.