Organizations that implement best-of-breed finance and accounting applications realize a number of benefits over those who choose to perform all business activity within their Enterprise Resource Planning (ERP) system.
Commonly used by organizations who need to be nimble and competitive without being cost burdensome, technology applications deployed from the cloud have established themselves within separate functional areas of finance, such as Customer Relationship Management (CRM), Business Spend Management (BSM), and Budgeting and Planning.
Best-of-breed finance and accounting applications provide a number of benefits to organizations who use them, including:
- Improved end user experience; and
- New functionality through releases deployed from the cloud, but that introduce additional data integration challenges to ensure that the cloud applications can share data timely and securely.
By deploying best-of-breed technology, organizations can speed deployment timelines, minimize costs and reduce the dependency on internal IT development by using prebuilt integrated connecters. Considered “integration as a service,” these prebuilt connectors blend your cloud applications and can be deployed quickly and cheaply, while allowing your business to utilize leading technology platforms without concern or the typical challenges when developing an integration from scratch.
Benefits of using prebuilt connectors to unite a systems landscape includes:
1. Shortened Deployment Times
When introducing new cloud applications, internal IT organizations typically have full schedules or do not have the resources to build integrations from scratch. By using prebuilt connectors, all of the typical time-consuming development activities are complete, which enables organizations to focus on business activities. The time needed to climb IT learning curves are eliminated, and IT resources are freed up to stay focused on critical business needs, all of which speed up deployment timelines.
2. Compatible with Ongoing System Upgrades
Cloud software is upgraded on a fixed release schedule usually two to three times a year. Using an integration bundle ensures that it remains stable and reliable during this time. Leading service providers who own and deploy your connector will ensure that the integration is both backwards and forward compatible during releases and perform the regression testing on your behalf.
3. Knowledge of Shared Systems
Finding a technical resource that knows your specific applications can be challenging. The owner and developer of an integration bundle will have resources who have specific knowledge of your systems. Because they have completed an integration previously using the same approach, they will understand data formats and field requirements. This past experience and repetition with your systems will allow for a successful integration.
If your organization is looking to deploy best-of-breed software but have concerns over integration cost, timeline, and accuracy, search for a deployment partner who has prebuilt connectors. You will realize the benefits of leading cloud software applications without the challenges and cost of integrating them separately.