How to Consolidate Data from Multiple Systems into a Single Integration Platform
Nowadays, businesses are increasingly relying on a variety of systems and applications to support their workflows. CRM, ERP, BI, document management, and application processing systems are among them. These systems have individual databases and formats for storing information. However, effective business management requires the ability to quickly gain a comprehensive overview of all information. That`s when integration platforms come in handy, enabling businesses to aggregate data from various sources into a cohesive system.
In this article, we will explore how an integration platform can combine multiple software and boost business efficiency while promoting its stable growth.
What is an integration platform
An integration platform is a software tool designed to connect and combine various systems, applications, databases, and other data sources into a single unified system. Its key objective is to enable seamless data exchange and interaction between these systems and sources. By using such platforms, companies can optimize their resource allocation, minimize risks and expenses, enhance productivity, and streamline data management.
Basically, integration platforms have two use cases:
- Connecting various internal systems within a company.
With a centralized data access point, processes between different systems can be automated. For instance, integrating the accounting software with the inventory management system enables automatic updates of inventory levels in the accounting program.
- Data exchange with partners and counterparties
In this case, an integration system enables the company to connect with external systems used by partners and counterparts, allowing for seamless data exchange. For example, integrating with a document management system allows for the automation of accounting and reporting processes with the company's partners.
Integration platforms` functional areas
Integration platforms have gained popularity in diverse business sectors as a means to enhance processes and boost efficiency. Let's explore several functional areas where they can be implemented:
Useful to automate accounting processes, payment transactions, generating tax reports, and more. For instance, integrating accounting with payment processing software can help eliminate data entry mistakes and reduce the time required for payment processing.
Good to optimize logistics processes, reduce expenses, and improve overall efficiency. For example, integrating an inventory management system with a transport management system can help maintain optimal inventory levels and reduce product delivery times.
Great to improve supply chain management processes, such as enhancing order processing accuracy and efficiency. For example, integrating an inventory management system with an order processing system can help maintain optimal inventory levels and ensure fast order fulfillment.
If you want to connect several internal systems within your company into a single platform or your company interacts with a large number of partners, each with unique automation systems, then our Integration Kit can help you consolidate all the information into a single format tailored to your needs.
Integration Kit based on fdForge
Integration Kit is a set of tools designed to connect external and internal web applications, services, accounting, and other systems (ERP, CRM, BI) into a unified environment.
Integration Kit is developed based on the fdForge low code platform, a modular system that seamlessly integrates with other programs.
This strategy not only reduces project maintenance and management expenses, but also simplifies business restructuring processes (M&A), and assists in creating a unified trusted data source.
Integration Kit features
Integration Kit offers entrepreneurs the following benefits:
- Consolidating data from systems of any kind
- Compatibility with any software
- Work with external data
- Reliability against high loads
- Clear and well-documented API
- Logging and versioning system
Let`s take the example of Metro Cash & Carry Ukraine LLC, a professional wholesale store chain, and explore how the integration with a document management system was implemented.
With the help of the Integration Kit, the company now boasts the following features:
- Unified document management system for automated document exchange
- Fast document processing: detecting duplicates and conflicting items
- Real-time process monitoring and control through an online account
- Generating reports for accounting and bookkeeping purposes.
Benefits of using the Integration Kit
Driven by an extensive range of benefits, integration platforms are becoming increasingly popular in the business world. That's why we recommend using the Integration Kit, which allows you to consolidate data from various systems into a single platform, ensuring their consistency and accessibility. Let's now take a look at some of them.
Using integration platforms can help reduce expenses associated with developing and maintaining separate accounting systems, which will result in improved business profitability.
Unified data source
Companies can use their resources more efficiently and get cohesive and accurate information to make decisions. This increases business efficiency and enables quick response to changes in the external environment.
Fast data exchange
Integration platforms automate data processing, which reduces the time needed for it and enhances the accuracy of the results.
Gaining access to relevant analytics can greatly aid in making significant and informed decisions. For example, if a company wants to monitor its sales in real-time, it can use the integration platform to collect data from its CRM system and other sources, and then analyze it in real time.
Now let`s explore the benefits of using the Integration Kit using the case of FinMe. FinMe is an integration platform that acts as a financial broker, helping users quickly get loan offers from various institutions.
The primary objectives included implementing a data exchange service with partners (financial institutions), refining automated request processing, and integrating with the business process management system.
As a result of cooperation, FinMe now leverages the following features:
- Continuous data synchronization, which entails the exchange of user databases, directories, applications information, and partner data.
- The FinMe system is capable of not only receiving incoming requests but also forwarding them to different partners for processing. When a new partner emerges, system administrators can utilize the query API constructor embedded in the system to configure the sending of requests to their system.
- The server converts applications from various lead sources into a single format, which is then transmitted to the processing system located on the company's internal network. Restricting access from the internet to the data repository ensures a higher level of information security and reliability.
Do I need an integration platform?
An integration platform is an extremely helpful tool that lets you easily connect different internal systems within a company into a single environment. The multifunctional fdForge platform comprises all the necessary features for successful operation, such as CMS, CRM, compatibility with any programs and services, reliability, and resilience against high loads.
If you are considering whether the Integration Kit is a suitable solution for your business, then leave your contact details in the form. Our manager will answer all your questions, explain the benefits and capabilities of the system, and also create a customized offer tailored to your specific project.