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2021 Market Report: Cloud Integration Adoption Spikes Amongst B2B Firms as COVID Highlights Crucial Enterprise Gaps

Posted on February 28, 2021February 28, 2021 by Alice

ROCKFORD, Ill .– (BUSINESS WIRE) – According to Cleo’s annual report on the integration of ecosystems and applications in 2021, released today by Cleo, the COVID-19 pandemic has shed light on the obvious integration gaps in supply chain processes and has shown more clearly than ever how such gaps are hindering revenue and threatening the company’s survival .

In response, companies have aggressively moved their integration solutions to the cloud, giving their supply chains the flexibility not only to absorb disruptions, but to outsmart them through improved visibility, control, analysis and real-time information.

When asked how much annual revenue was lost in 2020 due to poor integrations, 66% of respondents said their companies lost up to $ 500,000, compared with 43% last year. And 10% estimated they lost more than $ 1,000,000 in 2020 due to integration issues.

Key results of the survey include:

  • Loss of sales: 74% of companies lost more sales in 2020 than in 2019 due to integration problems.

  • Lost orders: 88% admit they lost orders, and more than half said they lost more orders in 2020 than the previous year. 25% admit they really don’t know how many jobs they are losing.

  • Cloud Migration: After gaining new perspectives on how legacy integration technologies are negatively impacting revenue, 96% of companies say they will focus more on cloud migration and digital transformation in 2021.

“Digitizing business and cloud integration initiatives is not new to B2B companies, but in 2020 the pandemic demonstrated the importance of these initiatives to revenue growth – and to survival for some,” said Tushar Patel, CMO of Cleo . “Companies have gained a new perspective on the importance of modern integration platforms in order to react dynamically to market conditions, regardless of whether they are new sales opportunities or disruptions in the supply chain. This change in mindset and urgency accelerated the adoption of ecosystem integration. We assume that this trend will continue in the years to come. ”

When it comes to integration technology, the survey found that companies don’t have enough insight or control over what’s really going on with their supply chains:

  • Only about half of the companies surveyed said they had access to supply chain information to gain business insights. However, almost 9 out of 10 companies said that end-to-end process visibility is important for their company.

  • Most companies added new supply chain partners in 2020, and while onboarding was generally faster than last year, the pace was well below what the company needed, which contributed to a negative impact on sales.

  • Legacy systems and inadequate application integration capabilities were the main reasons organizations struggled with attracting new partners and highlighted the importance of having API and EDI integration capabilities on the same platform.

Other integration-related issues that negatively impacted businesses in 2020: 38% of respondents identified isolated, one-off solutions as a barrier to revenue. 35 percent said it was difficult to integrate new applications, and 34 percent said that poor integration visibility leads to revenue problems. Although these key figures have improved slightly compared to the previous year, such persistent integration problems continue to hold companies back.

One clear takeaway from the survey is that companies have received a new perspective on the value of cloud integration, prompting nine out of ten B2B companies to take immediate action and change the way they use their ecosystem Make transactions.

  • Going digital: 66% of the respondents stated that they had expanded their digital business functions (e.g. e-commerce, digital supply chain).

  • Reaching new audiences: 34% said they were targeting new audiences, while 32% created new lines of business overall and 17% quit some.

  • Creation of new business models: Almost a third (30%) decided to fundamentally change their business model. For example, a quarter that is moving to a direct-to-consumer (DTC) model, or 32% that are more focused on loyalty programs.

To learn more about the latest integration trends, view the infographic or click here to access the full report on the State of Ecosystem and Application Integration in 2021.

About the report

The survey was conducted for Cleo by Dimensional Research in the fourth quarter of 2020. The primary research objective was to understand the scope and challenges of building and maintaining B2B enterprise integrations. It also sought to understand the business implications of integration issues. A total of 509 participants who design, build and manage applications or infrastructure integrations took part in the survey. The participants came from North America and Europe. The survey was managed electronically and participants were offered token compensation for their participation.

About dimensional research

Dimensional Research provides hands-on market research to help technology companies make smarter business decisions. Our researchers are technology experts and understand how corporate IT organizations work. Our qualitative research services provide a clear understanding of customer and market dynamics. More information is available at www.dimensionalresearch.com.

Information about the Cleo Integration Cloud

The Cleo Integration Cloud (CIC) is a cloud-based integration platform specifically designed to design, build, operate and optimize critical ecosystem integration processes. The CIC platform provides end-to-end integration visibility for API, EDI and non-EDI integrations, giving technical and business users the confidence to have trading partners on board quickly, enabling integration between applications and accelerating revenue-generating business processes. On the platform, companies can choose between self-service, managed services or a combined approach that ensures complete flexibility and control over their B2B integration strategy.

About Cleo

Cleo is an ecosystem integration software company focused on business outcomes, ensuring each customer’s potential is realized by delivering solutions that make it easy to discover and create value through the movement and integration of B2B corporate data. Cleo offers customers a strategic insight from the outside in into the critical end-to-end business processes in their ecosystems of partners and customers, marketplaces as well as internal cloud and on-premise applications. Our solutions enable teams to increase business agility, accelerate onboarding, facilitate modernization of critical business processes, and unlock new revenue streams by redefining and redesigning their digital ecosystem through robust application, B2B, and data integration technologies. For more information, visit www.cleo.com or call +1.815.282.7695.

Adoption among B2B Business Cloud Companies Covid Critical Gaps Highlights Integration Market Report Spikes
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