Digital Transformation & Maturity

Time to think business model reinvention using digital platforms

Digital superpowers, unicorns and start-ups are continuously discovering new and more successful ways to win business. These organizations have harnessed the power of digital platforms to reinvent business models, win over new customers and generate revenue by digitally enabling people and partners to swap information, assets, opinions, services, content and ideas.

Other businesses are struggling to understand how digitalization can be leveraged to achieve the growth they seek. So why not take a leaf from digital natives’ virtual book? Why not utilize the advantages of digital platforms to generate innovation and growth in your own business?

In a recent research report by the BearingPoint Institute it was revealed that companies who diversified their business models and adopted an asset light model centered around an ecosystem to include network effects improved their valuation in 2016 by 65% in comparison to those who maintained a mono-business model. Furthermore, between 2011 – 2016 they managed to generate a growth of 8% versus 4%.

Communication service providers (CSPs), backed with a strong foundation encompassing extensive customer networks and the connectivity so critical to the digital world are in an ideal position. Adopting digital platforms as part of their current mix to drive growth and competitive advantage is the logical next step.

Implementing a digital platform solution doesn’t need to be radical or high risk. There are many ways it can be an evolution that increases value and positively changes the relationship with customers. CSPs can follow a number of different pathways to realize the opportunities offered by the digital platform and unlock the synergies with their existing core business. These pathways result in a higher level of innovation and revenue growth. Choosing the right one depends on business ambition and priorities, as well as the nature of the competition faced – both existing and emerging. It also depends on how a CSP wants to build (and protect) new capabilities whilst aligning stakeholders, skills and culture.

Andrew Thomson will be speaking at Digital Transformation World, Monday 14th May – Creating a Digital Transformation Roadmap – at 11:35.



    Advertisement:
    Share.

    About The Author

    SVP Digital Enablement

    Andrew’s expertise is in assisting businesses take advantage of digital enablement, architecting and delivering business innovation and transformation. Andrew’s focus is on helping multinationals, corporates and government clients to leverage digital capabilities to establish partnering scenarios – so that they can leverage and monetise new business models and provide their customers and users with new self-service offers. Andrew has over thirty years of professional experience spanning consulting with Accenture and KPMG as well as senior corporate roles in Plessey Siemens, BT and Verizon. Andrew’s consulting experience includes leading business transformation design and implementation, business strategy & new business models, process, technology, organization design, business re-engineering, investment advisory engagements, as well as strategic sourcing for all sizes of corporations from start-ups to multinationals. Andrew’s corporate / industry experience spans business and operations management including roles with responsibility for major account sales, general management, strategy, international relations, business development, marketing, product development and customer service.

    Leave A Reply

    Back to top