Is digital disruption affecting the IT and Tech sector?

Platform economy is becoming more widely known as the solution for digital disruption. This new advancement in IT and Tech is making the rounds through every industry and can either make or break a business depending on how they act.

The IT and Tech sector was once the cutting edge of changing a business and has continued to grow and support other industries whilst improving its own. The advancements have now reached a point that changes need to be made in this sector to both survive through the advancements but also thrive. The IT and Tech sector, like many other industries, fell into the traditional business format that keeps internal silos, slow decision processes and sluggish innovation. To continue improving a business in this sector, organisations need to utilise the digital platform economy to develop a digital ecosystem and network that will keep the business ahead of competition.

How can this be done? Large changes to business come with large risk, and the pressure to keep ahead of competitors means that changes need to be done sooner rather than later. To help minimise risk BearingPoint//Beyond has released digital platform solutions powered by Infonova’s award-winning technology to support businesses, by using the digital platform economy safely, with tried and tested methods to keep ahead of the game and thrive.

The concept of digital platforms is simple, but first look at why this has become necessary. Traditional business models keep business boxed within themselves, few ideas are produced from focussed market research that may not cover what customers want fully. The ideas are produced and released after a long process of refining. Digital platforms work very differently. By creating a digital platform, channels of communication are opened up between the business, external partners, technology, potential partners and customers. The network collaborates to broaden the spectrum of resources to identify customer needs, create ideas to meet them, refine, test and market before launching – all of this is done swiftly and in a safe environment that reduces risk and cost. The result recreates your business model that pushes your business and its partners forward and can regenerate old ideas whilst also developing new ones. To really monetise the ideas, the products and services can be put out on a subscription basis and do well in becoming service-based in the cloud.