IPaaS is a cloud-based integration approach that connects different systems across an entire organization. Businesses can link their premises applications with cloud platforms without any middleware or hardware. In recent years, the patronage of iPaaS solutions has increased significantly. According to Hubspot, the iPaaS market is expected to grow from its current $3 billion size to over $13 billion by 2022. Businesses deploy iPaaS solutions based on their unique needs. For this reason, the use cases can vary depending on the company or industry. Here are some general benefits of iPaaS for businesses of all types.
1. Boosted Operational Efficiency
The world’s digital transformation rate is showing no signs of slowing down. New apps, tools, and resources emerge by the day for businesses and end-users to boost operations. But what happens when businesses become overloaded with multiple applications for a wide range of operational tasks? The reality is that many end-users have about eight applications to aid them in their operations. Adding more apps to your fleet can create data silos that eventually affect your operations. Businesses using different systems, from premise applications to cloud systems, need effective integration tools like iPaaS platforms.
IPaaS can be a great option to enhance communication and data exchange between legacy applications and cloud platforms. It uses a straightforward way of integration, parsing different systems and data from various sources into a single source of truth. This unified solution eliminates data silos, allowing businesses to manage disparate applications and cloud environments. With a well-rounded view of your business’s entire ecosystem, it becomes easier to develop integration projects that scale your operations.
2. Support for Low Code Development
The business world is significantly evolving. The past decade gave rise to several innovations like SaaS, microservices, and artificial intelligence. However, many of these resources require specialized knowledge and the help of an IT department, making it a farfetched option for smaller businesses. IPaaS democratizes the integration benefits for both small and larger enterprises, and iPaaS solutions come with simple point-and-click and drag-and-drop features, making it easier for technical and non-technical users to manage complex integrations.
IPaaS presents more significant benefits to non-technical users than traditional integration methods like extract-transfer-load (ETL) services. ETL services pull data from various data sources with strict processes best reserved for your IT team members. In contrast, iPaaS is a zero-code option that leaves no one behind on the integration journey.
3. Improved Decision-Making
Decision-making in today’s business world has a lot to do with data. It’s impossible to use IoT-connected devices and applications churning huge volumes of data from each task and not leverage the data for informed decisions. Many businesses have shifted to data-driven decision-making approaches, investing huge funds into business intelligence technologies and other data analytics tools. But the process isn’t as easy as it seems. Data-driven decision-making requires swift access to relevant and accurate data.
Using iPaaS solutions means accessing all your digital and data assets from a single point. That way, businesses can gain enough control over their data, identifying relevant insights for decisions. iPaaS also reduces the gap between business intelligence tools and data entry, rendering data collection, tracking, and the entire management process more convenient.
4. Enhanced Security and Compliance
Cybersecurity has become an increasing concern for businesses of all sizes. According to Statista, the United States recorded over a thousand data breach cases exposing over 400 million records. The alarming rate also has several financial implications for businesses. Companies of all sizes lose over $3 million each year due to data breaches. IPaaS providers upgrade their platforms automatically so business users can worry less about security updates.
All in all, iPaaS can benefit all businesses and industries, especially in areas like efficiency, agility, scalability, and security.
