Ecosystem integration investments could be key to delivering on your supply chain commitments—from unlocking profitability and growth to driving differentiation and efficiency
In a time when discovering ways to improve supply chain resilience is a mainstream topic from the White House to the farmhouse, Cleo, a global supply chain solutions provider and the pioneer and global leader of the Ecosystem Integration software category, has some encouraging news for all of us.
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New research indicates that technology investments are increasing organizations’ ability to deliver on their supply chain commitments, resulting in accelerating profitability, revenue growth, competitive differentiation, and supply chain efficiency. What’s more, the ROI of these investments is seen quickly.
Specifically, Cleo’s just published 2024 Ecosystem Integration Global Market Report outlines these findings:
- 97% of companies surveyed invested in supply chain technologies in 2023.
- 81% stated their supply chain investment delivered business improvement in less than 24 months, with 35% getting benefits in the same year.
- Roughly 80% indicated they increased revenue in the same year they made supply chain technology investments.
- More than half (51%) will invest $1 million or more in supply chain technology in 2024.
This Report, based on research conducted in late 2023 by Dimensional Research®, is Cleo’s fifth Ecosystem Integration market survey in as many years. It presents findings from business and supply chain technology executives around the world who were asked how supply chain technology investments were impacting their company’s ability to deliver on revenue-critical business commitments.
“A company’s supply chain is simply a series of commitments that tether across an ecosystem and must be delivered upon,” said Tushar Patel, CMO at Cleo. “And for companies to uphold those critical business commitments, they need to consistently invest in their supply chain technology, otherwise they stand to take a hit to their relationships – impacting their bottom line.”
In fact, 52% of companies reported lower profits from failing to meet business objectives in 2023. Respondents indicated such failures were due to:
- External conflicts like Inflation, unforeseen global events, and labor shortages.
- Internal conflicts like supplier, fulfillment, and manufacturing problems.
- Trading partners failing to uphold business commitments.
“Just like consumer expectations evolve, so do companies’ business objectives and ecosystem commitments. But often times these evolutions emerge due to various supply chain disruptions,” Patel continued. “By leveraging technology to build greater resilience to supply chain disruptions, a company is better able to take control of its supply chain commitments and deliver on their promises – resulting in stronger relationships and trust with their ecosystem.”
In fact, many companies are planning on doing precisely that. To further improve their businesses through continued supply chain investment, the three business objectives companies say they are placing greatest emphasis on in 2024 include:
- Improving the customer experience (50%).
- Fostering stronger relationships with trading partners (35%).
- Building resilience to supply chain disruptions (30%).
Not only do these three objectives tie back to delivering and exceeding supply chain commitments, they also point to specific ways in which companies plan to continue getting better:
- Improved communications (38%).
- Improved data sharing (33%).
- Better overall support, i.e., onboarding, issue resolution, visibility (24%).
These and many other key trends and insights are explained in-depth in the Cleo 2024 Ecosystem Integration Global Market Report.
What is Ecosystem Integration?
Ecosystem Integration is a category of software, principally for supply-chain-driven companies, where a single cloud-based platform is used for file-based, EDI, and application integration to optimize end-to-end integration processes across a dynamic network of trading partners, applications, suppliers, customers, and marketplaces.
Ecosystem integration takes the best of B2B integration and iPaaS technologies and combines them with a layer of visibility that empowers organizations to optimize business processes and quickly resolve errors when they occur. Its value lies in driving cost savings through B2B process automation, giving companies the agility and control needed to outsmart supply chain disruption and create value for their businesses in myriad ways.
Download the Report
Cleo’s 2024 Ecosystem Integration Global Market Report is available online at no cost. To learn more about the latest trends impacting today’s manufacturing, logistics, distribution, and retail supply chain companies, view the Infographic or click here to access the full Report.
About the Report
The primary research goal was to understand key business objectives and the largest business threats facing companies in 2023 and 2024. The research specifically investigated the role supply chain reliability played in achieving or impeding business objectives. The study also focused on whether supply chain investments were effective, and what benefits were received. A total of 301 qualified participants completed the survey. Participants were from 5 continents providing a global perspective.
About Dimensional Research
Dimensional Research® provides practical market research for technology companies. We partner with our clients to deliver actionable information that reduces risks, increases customer satisfaction, and grows the business. Our researchers are experts in the applications, devices, and infrastructure used by modern businesses and their customers. For more information, visit www.dimensionalresearch.com
About Cleo Integration Cloud
Cleo Integration Cloud (CIC) is a cloud-based integration platform, purpose-built to design, build, operate, and optimize critical ecosystem integration processes. The CIC platform brings end-to-end integration visibility across API, MFT, EDI, and non-EDI integrations, giving technical and business users the confidence to rapidly onboard trading partners, enable integration between applications, and accelerate revenue-generating business processes. On the platform, businesses have the choice of self-service, managed services, or a blended approach – ensuring 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 enterprise data. Cleo gives customers strategic, “outside-in” visibility into the critical end-to-end business flows happening across their ecosystems of partners and customers, marketplaces, and internal cloud and on-premise applications. Our solutions empower teams to drive business agility, accelerate onboarding, facilitate the modernization of key business processes, and capture new revenue streams by reimagining and remastering their digital ecosystem through robust application, B2B, and data integration technologies. For more information, visit www.cleo.com or call +1.815.282.7695.
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Contacts
10Fold Communications on behalf of Cleo
cleo@10fold.com
