Internet of Things needs B2B Standards

B2B standards based on EDI or XML formats run the global economy. The benefits of these standards is primarily interoperability which makes it easier for parties to exchange and interpret data.

The recent unfortunate incident involving Malaysian Airliner crash has exposed the problem with machine and sensor data using proprietary formats. The moment a machine moves out of pre-determined path, other machines do not know what is going on and do not even understand  what object is showing up on radar.

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The huge cost of Data Breaches highlights the need for Managed File Transfer (MFT) Solution

Data breaches can be intentional (malicious) or unintentional but one thing is certain that they are very expensive. Data breach trends by Symantec indicates that the malicious or criminal attacks may cost an average of $157 per compromised record. That means a breach involving a mere 100K records can result in remediation cost of more that $15 million. That does not count the damage to the reputation and the loss of customers.

The huge risk from data breaches highlights the need for plugging the rogue FTP servers and using Managed File Transfer (MFT) to move data securely in and out of the enterprise.

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New Banking Standard Supports Interoperability in Supply Chain Finance

Banks are often on the cutting edge of technology, but not, it seems, when it comes to managing supply chain finance.

Just as in manufacturing, banks and financial services firms operate a supply chain of services that requires purchase orders, payments and other management details. The problem is, banks have been trying to manage all those transactions without agreeing to interoperability standards, according to a recent whitepaper, “A New Start for Supply Chain Finance.”

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The Five Building Blocks of B2B Visibility

Many companies see B2B systems as a black box for what’s happening in their supply chain: They’re not sure what’s going on, and they’re only willing to delve into the data when something goes wrong.

“Nobody looks at the black box until after the accident,” said Navdeep Sidhu, an integration expert, former Deloitte consultant and director of Product Marketing at Software AG. “The complexity of B2B systems is so high that business does not want to use them for anything other than exchanging documents.”

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