In sectors where dealing with advanced processes, cutting-edge technologies, and critical IP, data integrity plays a central role as it stands behind the trustworthiness of procedures, key elements, and end products/services. How can Authtrail add to it?
Exponentially increasing data integrity market
By market segments, industry verticals in dire need of data integrity are BFSI (banking, financial services, insurance), healthcare, retail, manufacturing, IT and telecom, and government. End products must be tested against multiple standards, procedures must be compliant with certain authorization processes, etc. Hence, data integrity assurance must be flawless.
The size of the global data integration and integrity software market stood at USD 7.92 billion in 2018 and is projected to reach just over USD 20 billion by the end of 2026.
Meanwhile, the size of the global zero-trust security market, which includes the data security segment, is projected to grow from USD 19.6 billion in 2020 to USD 51.6 billion by 2026, recording a compound annual growth rate (CAGR) of 17.4%.
A plethora of solutions to achieve data integrity
Ever since cloud computing was made available, organizations were and still are increasingly running into trouble with optimal data management when combining various data sources. This is increasing the demand for effective data integration tools and services.
There is also an obvious interest in and awareness of the benefits of blockchain technology in the enterprise arena, thanks to the traceability and immutability of data records. But at the same time, 35% of respondents see the implementation of blockchain technology and the replacement or adaptation of existing legacy systems as the main barrier to greater adoption.
Many key players, including Informative, IBM Corporation, SAP SE, Oracle Corporation, and Talend, already split a big chunk of the data integration and integrity software market. They do offer advanced and high-level data integrity tools, but their solutions come with a price. And quite literally so. While promising minimum revenue loss on the count of more structured and quality data for harnessing and decision-making, these solutions often demand the allocation of human and technical resources for redesigning their current data management systems.
Increasing the performance, decreasing the cost
The expenses that enterprises undertake with deploying aforementioned data integrity solutions normally fall under the capital expenditures – it means a substantial financial investment in proprietary assets. And how can Authtrail lower all that financial strain and resources, poured into a reinvention of the data strategy system?
- It’s a data integrity tool deployed and offered as a software as a service (SaaS): it ensures minimal integration costs for the customer and a monthly subscription fee that depends on usage. This way, enterprises can continue with their business without uprooting the entire data generation and management systems, such as ERP, CRM, etc.
- Although it’s blockchain-based, it hides all the blockchain complexity within its platform, so no wide-ranging knowledge of distributed ledger technology is needed. Authtrail serves as a link between the world of business and state-of-the-art technology that is free of any human agents prone to error. In other words, blockchain provides a high level of security across all levels, by default.
- It’s highly scalable: blockchain networks are still too expensive and slow to solve data integrity issues in large-scale global enterprises. Authtrail managed to join forces with Moonbeam, the Polkadot parachain, and can now leverage Moonbeam’s higher efficiency and lower transaction costs.
See for yourself how Authtrail’s support offers a base so the enterprises can expand to new business opportunities, bring down costs, and gain a competitive edge.