API Integration to Modernize Third Party Onboarding for Enterprises
June 7, 2022
Enterprises are outsourcing more critical business functions to vendors and other third parties than ever before. The global managed services market – which includes anything from supply chain management to marketing strategy to call center operations – is expected to reach $372.8B by 2027, and the IT outsourcing market is estimated to grow to $97.5B by 2024.
Increased outsourcing means that enterprises must be mindful of how their constituents experience and interact with the myriad of external partners that power the technology behind their products and services. It’s important for businesses to consider many variables when it comes to choosing how much effort and time they’re willing to put into a new technology integration, but the reality is that without a flexible and innovative API integration option, companies will need to rely on the external partners user experience, which would most likely result in a fragmented overall user experience for their users.
In this particular use case, Evident’s insurance verification and risk credentialing solution can add one or more additional steps in the enterprise’s onboarding process for new partners (vendors, suppliers, franchisees, contractors, etc.), at which point they’ll be interfacing with a separate automated technology that differs from the company’s existing system(s).
Evident’s secure, state-of-the-art RESTful API integration helps our customers create their own multi-channel branded user experience for efficiently managing their third-party risk – starting with the onboarding process for new business partners – so anyone in their network can enjoy a seamless registration, and insurance verification experience, with minimal interruption.
Without a powerful API integration, Evident’s enterprise customers would have to implement whatever user experience journey we choose to provide, and instead, they have the option to keep their new partners engaged with a single user experience that doesn’t prompt them to leave the web page or app, which not only increases the likelihood of onboarding completion, but also delights the user with ease.