There’s a multi-trillion dollar market waiting for communications service providers that adapt and adopt platform business models, as TM Forum’s CEO Peter Sany recently explained.
In this video, George Glass, Chief Architect, BT; Laurent Leboucher, Vice President APIs & Ecosystems, Orange; and Dr. Lester Thomas, Chief System Architect, Vodafone discuss that opportunity and the approaches their companies are taking. Barry Graham, Senior Director, Agile Business & IT program, TM Forum, explains more about the collaboration work in this area at TM Forum and where it’s heading next.
Companies like Amazon and Airbnb are household names – all or part of their business is to create value by facilitating transactions between partners, fast and at scale. But there are also lots of unicorns – startups valued at more than $1 billion, which collectively account for $4.3 trillion in market capitalization across fewer than 120 companies, and the most valuable of all have platform-based business models.
Platform business is not just about potential: The profits of the top 50 publicly traded platform companies over the last five years amount to over $1.3 trillion.
Laying the foundations
Platform business models are underpinned by technology. The most important characteristic is that it should enable the exposure of common services that are quick and easy to integrate. This is what TM Forum’s members are working on right now, developing a Digital Platform Reference Architecture.
The initial work focused on clarifying the key elements and concepts of a platform – from a business, technical and architectural point of view – and starting to define the list of platform capabilities. This work is tightly coupled with our Open API program.
Interested in capitalizing on platform business models with TM Forum? Get in touch.