In industries from advertising to manufacturing to enterprise software, value increasingly lies within data and information flows. Digital transformations look different for each company because every organization has different goals. A solid goal to seek through digital transformation is the creation of a digital platform. Creating a digital platform is becoming a competitive necessity. Companies that have yet to make their move may find it increasingly difficult to catch up.
What is a digital platform?
A digital platform can be thought of as the sum total of a place for exchanges of information, goods, or services to occur between producers and consumers as well as the community that interacts with said platform. Digital platforms enable a data-driven world rather than a process-driven world.
Multiple components comprise a digital platform. These components must be aligned and integrated to create better experiences for users. Identity and Access Management (IAM) is one critical component that comprises a digital platform. Every customer is identified in a different way across the many environments and devices they use to interact with your brand. Additionally, brands with operations across multiple countries need the flexibility to define what identity means for each of those countries, individually. We can help identify the right strategy for your digital enabled business that creates the best internal and external experiences.
Another way to describe digital platforms is by talking about the essential pieces necessary to create a successful digital platform. The essential pieces necessary to create a successful digital platform are:
- Ease of use and immediate appeal for users
- Trustworthiness and security (clear terms and conditions are necessary as well as privacy protection and assurances for intellectual property and data ownership)
- Connectivity through the use of APIs that allow 3rd parties to extend the ecosystem of the platform and its capabilities
- Facilitation of exchanges between users (producers and consumers)
- Providing value to the community and as a function of the size of the community (the bigger the community, the more value the platform can provide to all parties involved)
- Ability to scale without causing performance degradation
Why create a digital platform?
Creating a powerful digital platform that provides ease of use, trustworthy transactions, and protections for users from bad actors on the platform is a delicate balancing act that has the ability to provide incredible levels of success for those who can manage it. In evaluating whether to proceed with a platform-based strategy, leaders should begin by considering the following questions:
- Does our business align with a platform-based business model?
- Can we occupy major influence points on the platform to connect disparate parties
- Can we develop a trust-based relationship with other partners on the platform?
- Do we have the capabilities to build and sustain a platform?
How to create a successful digital platform.
It’s vital to think about the moment that matters most to each type of user. If the platform delivers the experience that matters, it will be a success, and the company will gain competitive advantage. The first step to building (or assembling) a digital platform is to identify the moments or things that matter to the various types of users. Then select the technologies that will support those moments and metrics.
Don’t go it alone.
Modernization is challenging, but you don’t have to go it alone. Building a platform demands an enterprise-level transformation; it requires new, digital ways of doing business and all that comes with them, including major adjustments in your people, your processes, and your technology infrastructure. Get help from a supplier with integration expertise, cloud management capabilities and a proven track record of successful transformation at scale. Highly effective partners can offer a clear point of view, proven methodologies and a robust partner ecosystem that delivers technology-independent solutions.
We can help you reduce modernization costs and risks while increasing agility at every stage. Learn more about how to modernize your enterprise, and schedule a consult today!