With increasing business sizes, growing supply chains, and globalization, it has become crucial for businesses to collaborate and build relationships with partners and vendors to meet evolving consumer demands. To survive in today’s hypercompetitive markets, businesses heavily rely on their external network to increase their productivity and bottom line.
Strong partnerships become the driver of enhancing the value chain and work as a support system to improve revenues and profit margins for both parties. However, according to a recent research by Ovum, around 40% of businesses take more than 30 days to get a partner onboard. As businesses need multiple partners to handle various aspects of their operations, they should implement strategies that help perform partner onboarding tasks in an efficient way.
Partner Onboarding Challenges
Working with partners requires exchange of business information on a daily basis. Businesses need to manage, clean, and compile huge amounts of data from disparate sources, and they need a well-planned way to do so.
Manually performing these tasks can create several problems along the way. These challenges may occur due to proneness to human errors, difference in data formats, large volumes of data, and lack of repeatable processes. Long, complex scripts have to be written to create dataflows every time a new partner is onboarded, making the process redundant and labor intensive.
Generally, partner onboarding entails exchange of multiple emails every day, consolidating large datasets, and analyzing information for reporting. Dedicated IT resources are needed to develop and manage data processes to capture data from partners globally coming in from multiple databases, leading to system incompatibility. Handling critical information also becomes a challenge as it needs cleansed, massaged, and validated before it is useful for any business unit.
To overcome these challenges, businesses need an effective strategy to manage data for partner onboarding to achieve interoperability, time savings, and higher productivity benefits.
Partner Onboarding Strategy with Data Automation
Organizations should look into a self-service integration platform as automating the processes can help minimize IT intervention and make the process automated and agile.
Using such data integration tools can help streamline data processes, allowing users to move, cleanse, validate, and combine all the incoming datasets easily. This will create a unified view of partner data in sync with the organization’s data, which will lead to accurate analytics for well-thought-out business decisions.
Having an automated partner onboarding system gives you the ability to process and accommodate different needs of your partners. An integration platform will give you the flexibility to meet vendor and supplier requirements with ease, helping your business enhance their relationships and make managing partner operations more efficient. Furthermore, it allows you to create repeatable processes through workflow automation and scheduling capabilities, so that a similar task doesn’t have to be performed again and again. It will save developers from having to write SQL queries to create data flows and workflows from scratch whenever you onboard a new vendor or partner.
Data integration tools will further enable you to manage your information easily, enabling your business to build a productive and coherent data ecosystem. You can be more responsive to any changing needs of your individual partners.
Adding an automated data integration platform to your technology stack makes your partner onboarding processes easy, allowing you to accelerate your data management and operational processes. It enables you to save costs and cut the need for IT resources for managing data through complex technologies. Besides this, a well-structured management helps establish better communication between your organization and its partners, which is key to building concrete business relationships.
Enterprises with manual onboarding processes should leverage automation to streamline their operations. An automated data integration solution like Astera Centerprise can be used to perform onboarding processes quickly and easily. Centerprise is a self-service integration platform that provides a solution to all your partner onboarding challenges. Download Astera Centerprise today to benefit from an agile and well-structured process for partner onboarding.