What is Enterprise Application Integration?
Enterprise application integration is the translation of data and other commands from one application format into another.
Understanding Enterprise Application Integration
Enterprise application integration is an ongoing process between two incompatible systems, which can involve hardware components, software applications, or a combination of both. This integration can allow for differing financial applications to interface effectively and process data or transactions.
Also known as enterprise app integration, this refers to the process of syncing or aligning the various systems and databases used within a company, network or industry.
Typically, there are a variety of technologies, tools and services involved in this process. The difficulty of this process can vary depending on an assortment of factors, including the number of systems involved, their size and level of sophistication, and how compatible they are with each other. The systems involved may speak completely different computer languages or have vastly different architectural frameworks. Older, outdated systems or those that are highly customized will likely present more of a challenge.
Value of Enterprise Application Integration
Enterprise application integration is important because it allows the various departments or components of a company or network to share information, exchange data and coordinate resources. This allows for more efficient operations and collaboration, and save a lot of time and effort by all of the personnel involved. This also ensures that everyone is operating in a consistent and up-to-date manner, and that all parties have access to the same information, which ideally is current and frequently updated.
In the past, enterprise application integration used to be a much more tedious process that had to be performed manually by programmers. Today this is usually done with specialized programs or other interface products. This type of program now usually employs the internet as the avenue for interface, employing a cloud computing approach. Some newer systems are designed with compatibility in mind, so they can easily interface and sync with certain other systems.
However, many companies are using at least some older legacy systems, where the components may be outdated and may not even still be supported by the original manufacturer. This can add some complications to the process, and will likely make things more time-consuming as they will likely require more hands-on work by specialized professionals.
In a financial context, fast access to accurate and updated information can be critical in allowing investors and analysts to make educated, well-informed decisions. This also allows investors and traders to research needed data and initiate transactions quickly.