The Future of Business Communication: Three Trends for 2024

1. Intelligent Document Processing

Increasing productivity and optimizing costs are top business priorities for companies in 2024, according to a recent study by the Everest Group. Consequently, we are seeing a high demand for Intelligent Document Processing (IDP) services, as such solutions substantially boost the efficiency of document processing operations. The integration of artificial intelligence (AI) into Intelligent Document Processing is going to have a significant impact on business communication. Especially when it comes to accounting, AI-based IDP solutions have the power to considerably optimize the processing of documents. For instance, machine learning can be leveraged to automatically extract the relevant data from invoices in a variety of different file formats and convert it into structures which are machine-readable. This allows the processing of large volumes of documents within a short time. Under optimal conditions, capturing data by way of IDP solutions drives a substantial reduction in the error rate as well as enabling accuracy levels of up to 100 percent. Powerful IDP solutions can be customized effortlessly to meet the specific requirements of the respective company or sector. This means that companies benefit from faster processing of data, high recognition rates, and considerable cost savings. It is no wonder analysts are advising companies to make a point of ensuring they opt for an IDP solution which is AI-based and flexibly scalable.

2. AI-based Email Security Solutions

In 2024, AI is set to play a key role in email security. In a recent PwC survey, seven out of ten companies stated their intention to start using AI-based cyber security solutions within the next 12 months. This is because an increasing number of hackers are now employing generative AI (GenAI) in their attacks, especially since the launch of ChatGPT just over a year ago. Email remains the most commonly exploited gateway for intruders. Yet the same thing that is making cyber criminals more dangerous can also help to defend against them. AI-based security solutions, employed for instance in sandboxing and spam detection, reliably detect zero-day exploits and sophisticated phishing attacks early enough to proactively guard against them. Suitable SIEM tools (Security Information and Event Management) nowadays have state-of-the-art machine learning processes at their disposal, enabling them to duly analyze data from the various IT security applications they are using. In this way, a comprehensive solution provides essential insights on novel threats, making a crucial contribution to reducing future risk.

3. Innovative Ecosystems

The ability to innovate quickly is a prerequisite for success in today’s competitive marketplace, and intelligently leveraging cloud environments enables companies to achieve this competitive advantage. The multi-cloud-strategy – which allows companies to benefit from the state-of-the-art infrastructure, platforms, and services offered by various providers – helps them to build up their technology stacks with a high degree of flexibility. As a result, companies are able to react quickly to meet new market and customer requirements, adapt their business models as required, and drive innovation forward. Flexible cloud environments work best when the individual components are well aligned and closely coordinated. Ecosystems play a crucial role in this process. To ensure the success of cloud migration activities – and ultimately the cloud-based business models themselves – it is essential that these ecosystem services interact smoothly with each other in regards to the user and customer experience. The availability of standard interfaces, APIs, and fitting connectors, which make it possible to access the building blocks of the solution and implement them without undue effort, is also of vital importance. Any solution crucially needs the appropriate messaging and communication channels which facilitate the necessary interoperations between legacy and cloud applications. Cloud-based messaging products, such as those offered by Retarus, enable the smooth transfer of data, collaboration in real-time, and secure access to resources from any location. Through the combination of strategically opting for cloud services and cutting-edge messaging technologies, companies are not only able to boost their efficiency, but also pave the way for future growth and progress.

About Retarus

Retarus is a global provider of APIs, gateways, and applications for messaging, email management, and the exchange of structured data for business processes – with top performance, security, and data protection, provided from the company's self-operated data centers around the globe. Retarus (North America) Inc. is based in Secaucus, NJ, and with regional offices around the country, including Vermont and Massachusetts. Founded in 1992 and headquartered in Munich, Germany, Retarus is owner-managed and proud of its innovative strength. The company employs a staff of around 500 at 20 locations on four continents. Retarus' services are leveraged by the world’s leading companies. Retarus generates around 40 percent of its revenue in the US and offers its services both directly and in close cooperation with selected partners. Analysts constantly commend Retarus' outstanding quality and reliability. More information: www.retarus.com/us/