The digital platform economy is on fire! While each business domain has its own digital needs, companies operating in the same sphere have begun to realize that they are dealing with identical challenges. Many are already on top of this opportunity, weighing the pros and cons of platform business. The race to "own" the domain, or to be the first to introduce game-changing digital assets, is on!
What makes an ecosystem thrive?
All digital platforms rely on the positive dynamics within the ecosystem and success is directly related to the experiences of the members involved in it. Each platform has a unique business model, different operating principles, a distinctive clientele and ecosystem as well as different ties to the brick-and-mortar world. Success in this field requires smooth onboarding, continued value creation and practical operational tools for everybody.
Transaction platforms create connections
By connecting otherwise independent ecosystem members with one another and with relevant products, services, tools, materials and content, different types of digital marketplaces are gaining traction. This applies to almost all domains from sports to heavy industry. The marketplaces can be two-sided or multi-sided, offering possibilities for all kinds of value exchange, usually enabling the buying and selling of goods and services.
Well known examples include Etsy, Wolt, and Über. Some of our customers, like Superoperator, Suomisportti and Moovy, also fall into this category.
Innovation platforms catalyze creativity
While lowering barrier for entry and expediting time-to-market, innovation platforms offer tools and ready-made assets for digital creators. Companies looking to boost innovation and attract a healthy developer/digital creator ecosystem often provide guidelines and standards as well as access to digital components.
Major technology companies are investing in innovation ecosystems. Apple iOS, Android and Microsoft are excellent examples. They have opened up the tools and the arena to ecosystem members, and thus managed to grow value for the end users.
Any professional tool can be turned into a platform
There is almost no limit to platformization, if you think about white-label, customizable SaaS services as platforms. Virtually any digital tool created for business use can be modified to be sold on to be utilized by other companies.
For example, we routinely consult companies on the platformization of mobile field apps for experts as well as tailor-made web services that support business operations in highly specialized domains. Companies investing in custom software, can find interesting business possibilities in platformization.
Let's develop your business smartly with digital platforms
We are experts in creating the critical links between platform business models, ecosystem support structures and technical platform development.
For us, creating a platform is an excercise in systemic design and smart roadmapping. Often, platforms are top heavy in terms of funding, making it super important to design for a fast return on investment and to ensure that the roadmap and rollout plans support key performance indicators.