Creative Destruction in the Enterprise

“Creative destruction is replacing old inefficient processes with new and efficient ones. Perspectium is leading the way in implementing new data integration approaches for their customers”.

In 1942, economist Joseph Schumpeter famously coined the term “Creative Destruction”. When you apply Schumpeter’s definition to 2018, companies strive to unlock the true value of their technological investments. The action to displace legacy applications and vintage processes is crucial to satisfy intuitive AI and autonomous tools. This reinforces Schumpeter’s term, “The gale of creative destruction describes the process of industrial mutation that incessantly revolutionizes the economic structure from within, increasingly creating a new one”.

If done correctly, it will eliminate wasteful time and spending. Companies are building and supporting their own custom integrations which are costing them upwards of $100,000 each. At Perspectium, we have solved this challenge for many Fortune 500 companies. The Perspectium integration mesh is able to ensure that data remains secure, available, and upgradable for any organization.

Intermountain is a healthcare provider that faces the challenges of making sure their data is in accordance with the Health Insurance Portability and Accountability Act (HIPAA). Perspectium ensures that their encrypted data is secure and available for real-time integrations. Prior to working with Perspectium, they were running batch data movements at night. They are now integrating with the peace of mind that their data is secure, and that they are synchronizing critical data in real time.

Beyond the healthcare sector, Perspectium also delivers integration as a service to customers in the financial market. A multinational financial services company was going through a ServiceNow upgrade, and wanted to ensure that they didn’t lose data in the event that they had to “roll back” that upgrade. Perspectium helped ease that fear by setting up a dynamic share that replicated any data collected during the upgrade, providing them with a live backup that they could use if they had to roll back the change. Now, when the company performs upgrades, they are assured that their data is safe.  

Organizations are beginning to evolve their integration processes, by replacing them with more efficient and intuitive tools. Through creative destruction, Perspectium has created a better and more efficient integration approach than the legacy way of doing data integrations. Intermountain Healthcare and the ServiceNow-upgrade story both demonstrate innovative ways in which we have helped organizations implement change. Today, data professionals have to apply new integration approaches or they will fall behind their peers, and be unable to keep up with the pace of business change. When you apply the term “Creative Destruction” to 2018, companies can now unlock the true value of their application and framework investments by leveraging Perspectium to manage the underlying integration “mesh” that connects all of these tools together.