Digital ecosystems are fundamentally changing how businesses collaborate and compete. Is your company ready to be part of an ecosystem—or to build one?
Companies once might have kicked off a joint venture or a strategic alliance with a few industry partners to share risks or enter a new market, but now many companies collaborate in digital ecosystems of dozens or even hundreds of partners from several industries to bring their offerings to market.
In a digital ecosystem, many largely independent economic players join forces to create a digital offering that is more valuable than a single company’s product or service. Some digital ecosystems develop solutions—like a connected car or a smart home. Others bring together buyers and sellers on a digital platform.
This new collaboration model isn’t a fad; it’s the future of business. Many of the world’s largest companies are part of vast digital ecosystems that are disrupting not just their industries but broad swaths of the economy.
BCG helps companies looking to develop or participate in a digital ecosystem move from strategy to scale in less than 24 months.
To capitalize on the benefits of digital collaboration, companies must craft a forward-thinking digital ecosystem strategy, navigate the startup community to spot potential partners, and identify the partners that can make an immediate impact.
The BCG Center for Growth and Innovation Analytics uses data science to mine vast troves of unstructured data to spot tomorrow’s opportunities and provide forward-looking data-driven insights in the areas of technology, IP, innovation, and growth.
BCG’s Fintech Control Tower monitors and conducts deep research on global fintech and insurtech trends and supports clients with innovation discovery, scouting and sourcing, and open innovation efforts.
BCG’s comprehensive benchmarking tool constructs a comprehensive view of the competitive landscape and provides key insights into what makes digital ecosystems successful.
BCG’s Digital Ecosystem Accelerator is a diagnostic survey, supported by a benchmarking database that contains more than 90 companies from across sectors and regions. The Accelerator addresses key questions about participating in a digital ecosystem. For more information, contact Ask_DE@BCG.com.
BCG’s Digital Acceleration Index helps organizations assess their digital maturity by uncovering their digital strengths, identifying gaps in their digital capabilities, and evaluating their performance relative to their peers in digital efforts.
Because new technologies, partners, and competitors emerge all the time, it’s vital to adapt and pivot during the initial phases of ecosystem growth. We work with clients to create a flexible, agile model for designing, setting up, and governing a digital ecosystem.
BCG's cybersecurity expertise helps ensure the confidentiality, integrity, and availability of clients’ digital assets. Our cybersecurity experts work with clients taking on digital ecosystem transformation to develop new connected products or services, considering security implications for the business.
BCG Digital Ventures goes beyond providing consulting, design, and technology services to form strategic venture teams with its clients in order to rapidly develop, launch, and grow transformational digital products, platforms, and businesses.
Orchestrators of collaboration networks need to create a sense of community and trust while ensuring that all participants benefit. Value—whether it’s data, IP, or financial gain—must be shared to create strong and lasting partnerships.
BCG Platinion accelerates digital excellence by designing and engineering new digital products and services, architecting and building scalable platforms to enable digital technology capabilities for clients across industries.
Bringing Insight to Light for Malaysian Consumers
BCG collaborated with Celcom Axiata, one of Asia’s largest telecommunications companies, to transform a simple phone card into an e-wallet and lifestyle app called Boost. In less than two years, it became Malaysia’s leading cashless platform—a digital ecosystem of 17 banks and a growing list of more than 125,000 participating merchants.
LEARN ABOUT THE COLLABORATION
Resist the temptation to scale back investment––instead, use the benefits of digital platforms to help your company through challenging periods.
The next few years could be make-or-break for some banks. If they don’t join the digital ecosystem movement, they will be consumed by it.
Advanced capabilities, emerging technologies, and new organizational models are required—but the value upside is tremendous.
Participating in a digital ecosystem is quickly shifting from optional to imperative. Use this tool to assess your company’s DE strategic maturity and readiness and to benchmark its capabilities and potential against competitors.
Today’s “smart” products depend on collaborative networks. The challenge is setting up and managing these ecosystems and using them to maximize value—and gain a competitive edge.
Discover what separates the digital ecosystems that work from those that don’t.
Companies must attract members and partners to their platforms while maximizing profits.
