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Real-Time Enterprise (RTE)
Definition - What does Real-Time Enterprise (RTE) mean?
Real-Time Enterprise (RTE) is a concept in business systems design that helps organizations automate processes across different media, systems and enterprise boundaries. The main goal of RTE is to provide real-time information to customers, employees, partners and suppliers and implement processes to ensure that all information is up-to-date and consistent throughout all systems, which reduces the manual processsing normally associated with information. To achieve this, RTE systems exploit up-to-date information, eliminate delays and increase speed to achieve competitive advantage.
Techopedia explains Real-Time Enterprise (RTE)
RTE provides the following main benefits to the various levels of an enterprise, as follows:
- Operational Level: Enhanced customer service, reduced risk, less inventory and lower processing costs
- Managerial Level: More efficient utilization of upcoming opportunities, minimal damage when system errors occur and improved agility when managing small and large threats and transformations
- Leadership Level: Ability to quickly implement the strategies required to address changing circumstances
Although not specifically outlined, generally recognized RTE objectives are as follows:
- Minimized reaction times for customers and partners
- Improved visibility: For example, reporting or sharing information throughout an organization, rather than retaining within specific departments
- Enhanced automation, such as accounting, communications, reporting and supply chains
- Greater competitiveness
- Minimized expenditures
- Business process management (BPM)
- Knowledge management tools
- Data warehouses
- Database management systems (DBMS)
- Enterprise portals
- Real-time analytics
- Integration brokers
