The Big Shift: Leaving Best-of-Breed Solutions Behind for Integrated Suites

Companies are rethinking their approach to software solutions. For years, the best-of-breed strategy‌ — ‌selecting specialized software for each business function‌ — ‌has been the preferred choice for organizations looking to add top-tier capabilities in niche areas. 

However, as noted by Nucleus Research, there’s a noticeable shift towards integrated suites, comprehensive platforms that seamlessly manage multiple functions. Integrating disparate systems can be resource-intensive and costly, but with an integrated suite, organizations can streamline business processes and realize greater efficiencies and ROI.

In this blog post, we’ll dig into why businesses are moving away from best-of-breed solutions in favor of integrated suites. We’ll explore the operational and financial benefits of integrated platforms, and examine the broader industry trends driving this shift.

What are Best-of-Breed Solutions?

Best-of-breed solutions refer to specialized software applications that excel in specific areas or functions. Companies often choose these tools for their advanced features and performance in particular niches. Their specialization means they often provide the most advanced features and functionalities for their designated purposes. For example, a small business might select a leading CRM system for managing customer relationships and a different, highly-rated accounting software for financial operations. This approach allows organizations to leverage the best tools available for each specific task.

Problems with Best-of-Breed Solutions

While a best-of-breed approach can provide specialized capabilities, it can also bring several challenges that can impact overall efficiency. 

Integration Costs and Complexity: Integrating multiple best-of-breed applications can be highly complex and resource-intensive. Combining various best-of-breed software requires continuous investment in IT resources, middleware, custom connectors, and possibly third-party consultants. This can quickly escalate the total cost of ownership. Each system must be integrated to ensure smooth data flow and interoperability.

High Support and Maintenance Costs: The burden of maintaining multiple systems can become overwhelming, particularly as businesses scale. Managing multiple software systems from different vendors also increases the complexity and cost of support and maintenance. Each system has its own update cycles, security requirements, and support protocols, leading to a fragmented IT environment that’s harder to manage and more expensive to maintain.

Training and Usability Issues: Employees must become proficient with multiple systems, each with its unique interface and workflow, leading to increased training costs and potential productivity losses. The learning curve associated with mastering several different tools can be steep.

As organizations grow and their operational needs become more complex, these challenges can become significant barriers to maintaining an efficient and cohesive IT environment. Plus, as Bots & People points out, you need to constantly look for new vendors and make sure each individual tool works with the rest of your environment. 

The Shift to Integrated Suites

Integrated suites are comprehensive platforms that consolidate multiple business functions into a single, cohesive system. Across industries, there’s a growing recognition of the operational efficiencies that integrated suites can offer. Many organizations find themselves thinking, “We’re only using 10% of this expensive, best-of-breed solution. There must be a more effective way.”

Integrated suites provide a compelling answer by simplifying the IT environment, empowering teams to use multi-functional software and reducing the overall operational burden.  

Here’s why integrated suites are becoming the preferred choice:

1. Operational Efficiency and Streamlined Processes: Integrated suites simplify the complexity of managing multiple specialized systems. They eliminate redundancies and streamline workflows by bringing various business functions into a unified platform. This cohesive framework reduces the burden on IT departments and improves overall efficiency, allowing businesses to operate more smoothly and effectively.
2. Cost Savings and Reduced IT Complexity: Best-of-breed solutions often require significant investments in integration and maintenance. Each specialized system needs continuous IT support, custom connectors, and updates, which can escalate costs. Integrated suites lower the total cost of ownership by reducing the need for extensive integrations and ongoing maintenance. This simplification leads to substantial cost savings and a more sustainable financial model over time.
3. Consistent User Experience and Enhanced Productivity: Employees benefit from a familiar and cohesive interface across all business functions within an integrated suite. This consistency reduces the learning curve and training costs associated with multiple platforms. A unified system boosts productivity as staff can navigate and use the tools more efficiently, without the frustration of switching between different interfaces and workflows.
4. Centralized Data Management and Improved Decision-Making: Integrated suites provide a single source of truth for business data, centralizing information from various functions into one platform. This centralization simplifies data management, improves accuracy, and enhances reporting and analytics capabilities. Organizations can make better-informed decisions with comprehensive and consistent data, eliminating the silos and discrepancies often seen with disparate systems.
5. Foundation for Digital Transformation: As companies pursue digital transformation, the ability to integrate new technologies seamlessly is crucial. Integrated suites offer a robust foundation for these initiatives, supporting the adoption of advanced technologies while maintaining a cohesive operational framework. This adaptability is key for businesses looking to evolve and stay competitive in a rapidly changing market.

These suites offer a unified approach to software management, where various modules‌ — ‌such as finance, HR, sales, and supply chain management‌ — ‌are designed to work seamlessly together. This integration simplifies operations and provides a holistic view of the business. By adopting integrated suites, organizations can eliminate SaaS sprawl and streamline their software ecosystems into a unified, efficient framework.

Enhance Business Capabilities with an Integrated Suite

Acterys provides a robust suite of tools designed to integrate seamlessly with major platforms like Microsoft 365, as well as a diverse range of other data sources. This comprehensive integration boosts business data management, planning, and analysis capabilities, enabling companies to transition from managing multiple best-of-breed applications to a streamlined, unified system.

Unified Planning and Advanced Analytics

Acterys consolidates financial planning, reporting, and analytics into a single, cohesive solution. This unified approach simplifies the management of critical business functions and enhances data visibility across the organization. With Acterys, businesses can build detailed financial models, forecast future performance, and manage budgets more effectively. 

The platform ‌offers advanced analytics and reporting capabilities that provide deep insights into business performance. These capabilities enable organizations to make well-informed decisions and achieve better outcomes. Acterys extends beyond traditional financial planning through its xP&A (Extended Planning & Analysis) suite, which links financial and operational planning across the entire enterprise. This holistic view aligns strategic goals with operational execution, ensuring that all departments are working towards common objectives and that their planning processes are in sync.

Seamless Integration with Microsoft Power BI, Excel, and Beyond

One of Acterys’ standout features is its seamless integration with Microsoft products. For example, it enhances Power BI by adding advanced writeback, planning, and analytics tools, allowing users to conduct in-depth data analysis and visualization within a single, familiar platform. Similarly, Acterys integrates deeply with Excel, empowering users to perform complex financial modeling and scenario planning directly in Excel’s user-friendly interface.

Beyond Microsoft, Acterys is versatile in connecting with a wide variety of other data sources and applications. Whether integrating with popular CRM platforms, ERP systems, or specialized accounting software, Acterys brings together disparate data into a unified platform. This highly flexible solution ensures that businesses can consolidate data from multiple systems, simplifying data management and enhancing overall analytics capabilities.

Scalable and Flexible Solutions

Acterys is built to grow with your business, offering scalable solutions that can adapt to a wide range of needs, from basic financial planning to sophisticated data analytics. It supports both cloud-based and on-premises deployments, giving businesses the flexibility to choose the best setup that fits their specific requirements and preferences.

The platform’s modular design allows companies to customize their suite of tools to match their unique needs. Whether it’s adding new functionalities or integrating with existing systems, Acterys can be tailored to different industries and business sizes, providing a solution that evolves with your organization’s demands.

By integrating smoothly with Microsoft tools and other data sources, Acterys minimizes the complexities and costs associated with managing multiple best-of-breed applications. The platform simplifies IT management, reducing the need for complex and costly integrations. 

Acterys also offers Augmented Business Applications‌ — ‌specialized, no-code tools designed to tackle specific business challenges. These applications enable businesses to create custom applications that address unique needs such as payroll allocation, inventory management, and more. 

Each application is built to integrate seamlessly with your existing systems, ensuring a smooth implementation that leverages your current technology stack. This flexibility allows organizations to rapidly deploy tailored applications that enhance operational efficiency and drive better business outcomes without requiring extensive IT resources.

Take the First Step Toward a Unified Approach

As businesses navigate the complexities of modern technology, the shift from best-of-breed solutions to integrated suites offers a compelling path forward. Integrated suites provide significant advantages in terms of cost savings, operational efficiency, and enhanced business capabilities. They simplify the IT landscape and provide a unified platform for data and processes.

For organizations looking to optimize their technology stack and improve overall efficiency, a unified approach offers a robust and effective solution. While achieving a fully integrated system doesn’t happen overnight, businesses can begin their digital transformation by implementing one system at a time, gradually moving towards a comprehensive, unified strategy. Acterys’ seamless integration capabilities and its comprehensive suite of planning, reporting, and analytics tools make it an ideal choice for businesses seeking to streamline their operations and drive better outcomes.

Are you ready to streamline your business planning and reporting processes and empower your organization to leverage the full potential of modern integrated suites? Start your free trial of Acterys today.