Kicking off his keynote at OpenText™ World 2020, John Radko, SVP of Engineering for OpenText, was quick to acknowledge that businesses – and society in general – faced a series of unprecedented trials and challenges in 2020. However, John reminded the attendees at his “Rethinking How Digital Ecosystems are Integrating” keynote that the forces of change had already been pressuring businesses well before the start of the year.
“If any of you can stretch back to before COVID, things were changing even before then: Disruption, not necessarily on the scale of a global pandemic, but through changes in the ways countries work together, trade wars, increasing tariffs, growing regulation, natural disasters. There were a number of challenges. But I think it took COVID for us to appreciate just how much the world has changed.”
And changed it has. OpenText has over 1.2 million trading partners connected to the OpenText™ Trading Grid™, conducting 26 billion transactions annually, worth more than $9 trillion. But, said John, that isn’t enough. Businesses need to keep evolving to stay competitive, and the ability of partners to collaborate in real time makes the difference between success or failure.
Integrating digital ecosystems: The API economy
Speed, flexibility and consistency require automation. Successful automation requires successful integration. And that’s the challenge. According to IDG, only 52% of integration projects are completed on time and within budget.
According to John, that’s where OpenText Trading Grid can make a difference. Its promise of “connect once, reach anything” will make the difference. “Trading Grid is already the largest business network that the world has ever seen, the biggest B2B transaction network in history. But that’s not enough anymore. We need that single, unified platform to go beyond just connecting partners, to one that connects to cloud services, talks to devices, and embraces the API economy.”
OpenText’s commitment to APIs ensures that organizations can work at speed and scale with trading partners both established and new.
Finding the right partner and working closely with them is key to growth in the modern economy. But even smaller companies can gain speed, flexibility and increased insights through leveraging connections.
OpenText™ Business Network Cloud brings new features in OpenText Cloud Editions (CE) 20.4, including enhancements for Global Partner Directory and Lens and 40 new connectors for critical business apps. There are also updates to OpenText™ Freeway Cloud to accelerate digital trading and order acceptance, as well as advancements in IoT Shipment Tracking.
Even if we must keep our distance, businesses will be working closer than ever.
Watch the “Rethinking How Digital Ecosystems are Integrating” session on demand.