“Not every company, however, makes the leap successfully. To understand why some enterprises pull it off and others donâ€™t, we studied more than 20 firms that have tried to become platform providers. On the basis of that work, we have identified four steps that can make the difference between effective transformations and failure.”
1. Start with a Defensible Product and a Critical Mass of Users
Too many companies believe that a platform move will somehow revive a struggling product. Thatâ€™s a mistake
2. Apply a Hybrid Business Model Focused on Creating and Sharing New Value
It has long been assumed that leaders must commit to either a product-based or a platform-based business model, because each demands a particular approach to resource allocation and operations. But we found that firms making successful transitions from product to platform often employ a hybrid model.
3. Drive Rapid Conversion to the New Platform
A viable product and business model wonâ€™t guarantee success. Itâ€™s also important to convert users of your products into users of your platform.
Provide adequate value.
Stay consistent with your brand.
Involve users in improvements.
. Identify and Act on Opportunities to Deter Competitive Imitation
The product-to-platform transition, like any business model innovation, will invite imitation when it succeeds. One effective way to fend off copycat competitors is to identify and control the openings for value creation.
Our new report, “How To Spur Collaboration Across Your Customer Experience Ecosystem,” grapples with the enablement question from a technology standpoint. Why focus on technology? The people who constitute a CX ecosystems are never entirely colocated, yet they must share and discuss business artifacts (e.g., marketing collateral, contracts, designs) in order to make decisions that affect customers’ experience. This problem requires a technical solution”
” Business networks, for instance, are changing the way we discover, connect, and collaborate with our trading partners. They are giving us access to insights and intelligence that allow us to make better, more informed decisions. They are, in essence, transforming procurement as we know it.”
Technology has driven a new wave of productivity by digitizing key financial and business processes and enabling collaboration across the organization.
2. Collaboration will increase â€“ and fuel innovation
Many companies have taken steps to improve the efficiency and effectiveness of their supply chain operations by automating key processes such as procurement, orders, invoicing, and paymen
3. Business will run simpler
Personal networks from Facebook to Twitter have made it simple for consumers to shop, share, and consume in new and more informed ways. Business networks provide an equally easy and scalable way for companies to discover, connect, and collaborate with the trading partners and resources they need to operate in todayâ€™s dynamic world.
4. Lines will blur
Fueled by digital technologies, procurement will take the lead in integrating business processes and collaborating across functions in entirely new ways that drive value. Chief procurement officers (CPOs) will, for instance, engage in helping to manage the financial supply chain, turning payables into a profit center because they have real-time visibility into whether an invoice is okay to pay and whether it has been matched against purchase orders and contracts.
5. Procurement will get smarter
Like their social counterparts, business networks house incredible amounts of insights and data. Procurement will unleash the power of this information to optimize their supply chain decisions and accelerate innovation and growth. They may, for instance, access performance ratings on potential trading partners along with recommendations from the community to determine who to do business with
However, robots are being used increasingly in customer support and care in a range of capacities. While there are none operating with complete autonomy, there are plenty of examples where robots have a functional purpose which they are successfully delivering.”
Aldebaranâ€™s Nao family of robots are also utilized at Hilton McLean in Virginia where â€œConnie,â€ the first Watson-enabled robot concierge in the hospitality industry is employed.
. In Canada, they come in the form of MEDi, employed at the Alberta Childrenâ€™s Hospital. The robots are are specifically programmed with sets of behaviors that match the steps of a medical procedure, providing pain management support during medical procedures.
RIBA in Japan is the first robot that can lift up or set down a real human from or to a bed or wheelchair.
This month saw the release of Jia Jia, developed at the University of Science and Technology of China, a human-looking robot which can speak, show micro-expressions, move its lips, and move its body.
Through the lens of customer experience, digital transformation, I learned, organizations evolved through six progressive stagesâ€¦
Business as Usual: Organizations operate with a familiar legacy perspective of customers, processes, metrics, business models, and technology, believing that it remains the solution to digital relevance.
Present and Active: Pockets of experimentation are driving digital literacy and creativity, albeit disparately, throughout the organization while aiming to improve and amplify specific touchpoints and processes.
Formalized: Experimentation becomes intentional while executing at more promising and capable levels. Initiatives become bolder, and, as a result, change agents seek executive support for new resources and technology.
Strategic: Individual groups recognize the strength in collaboration as their research, work, and shared insights contribute to new strategic roadmaps that plan for digital transformation ownership, efforts, and investments.
Converged: A dedicated digital transformation team forms to guide strategy and operations based on business and customer- centric goals. The new infrastructure of the organization takes shape as roles, expertise, models, processes, and systems to support transformation are solidified.
Innovative and Adaptive: Digital transformation becomes a way of business as executives and strategists recognize that change is constant. A new ecosystem is established to identify and act upon technology and market trends in pilot and, eventually, at scale.
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