Research Finds 96% of Companies to Increase B2B Integration Initiatives as Technology Provides Average Cost Savings of 40% for Order-to-Pay Processes
New Report from the Stanford Global Supply Chain Management Forum Shows Companies Plan to Expand B2B e-commerce Programs with Additional Customers, Business Processes and Suppliers. GXS, a leading provider of B2B integration services, today announced a new report from the Stanford Global Supply Chain Management Forum titled, “B2B Integration: Business Value and Adoption Trends.”
Gaithersburg, MD (PRWEB) June 11, 2013
GXS, a leading provider of B2B integration services, today announced a new report from the Stanford Global Supply Chain Management Forum titled, “B2B Integration: Business Value and Adoption Trends.” With funding provided by a gift to the university from GXS, the report offers insights into the latest trends and business value of B2B integration technologies. Report findings are based on a survey of nearly 100 users in North America, Europe and Asia, representing different industries including manufacturing, retail, financial services and logistics.
The report found that 96% of respondents are planning to expand their B2B e-commerce programs, expecting increases in the number of customers, suppliers and business processes. More than 60% of respondents anticipate an increase in their B2B Integration budgets to take advantage of the average cost savings of 40% technology provides in the order-to-pay process. More than half (53%) of respondents showed at least a 40% reduction in their order processing costs by using B2B integration technologies while others noted at least a 40% processing cost savings associated with shipment management and EDI/XML-based invoicing.
“The increasing investment and adoption in B2B integration underscores its importance for companies. As the demands of managing global supply continue to grow, the complexities of connecting and collaborating electronically with global business partners grows increasingly vital,” said Steve Keifer, vice president of marketing at GXS. “The survey findings reinforce the importance of integrating B2B e-commerce operations for today´s companies to effectively operate their supply chains.”
Additionally, the survey found that, currently, 66% of best-in-class companies were shown to exchange more than 60% of messages using structured messages (EDI, XML, Swift) rather than portals requiring manual keying. The survey also asked participants to estimate changes in transaction volumes over the next three years. Of the participants, 97% expected B2B transaction volumes to increase. The majority foresee an increase of up to 25%.
A growing number of companies have noted the potential business value of B2B collaboration in this highly competitive and distributed marketplace and are taking steps to improve electronic communication capabilities. This research aims to gain insight on the latest trends and business value associated with B2B integration technologies and results indicate the market is investing in increasing e-commerce programs and B2B integration efforts.
GXS is a leading B2B integration services provider and operates the world´s largest integration cloud, GXS Trading Grid®. Our software and services help more than 550,000 businesses, including 22 of the top 25 supply chains, extend their partner networks, automate receiving processes, manage electronic payments, and improve supply chain visibility. GXS Managed Services, our unique approach to improving B2B integration operations, combines GXS Trading Grid® with our process orchestration services and global team to manage a company´s multi-enterprise processes. Based in Gaithersburg, Maryland, GXS has direct operations in 20 countries, employing more than 2,800 professionals. To learn more, see http://www.gxs.com, read our blog at http://www.gxsblogs.com and follow us on Twitter at http://twitter.com/gxs. You can also access our public filings with the Securities and Exchange Commission at http://www.sec.gov/edgar.shtml.
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