A Forbes article says that digital platforms like Facebook, Uber, and Foodpanda are networks that allow people to easily communicate with each other. From a business perspective, digital platforms are facilitators that make online goods and service exchanges possible.
How are digital platforms changing the face of business?
Digital platform trends keep evolving; they are changing the very way humanity has been doing business. The power of digital platforms is pushing many conventional, non-technological businesses to shift to or incorporate a digital platform strategy. Although the idea of connecting between one party and another is not well-established, digital platforms rely on technology like smartphones, artificial intelligence, data, and automation. The combination of these tech trends has given rise to a plethora of successful digital platform businesses.
Are digital platforms just for tech companies?
Digital platforms are not limited to tech companies. Non-tech organizations across sectors are investing in digital platforms. It is a literal digital revolution that is impacting a whole range of industries and companies of all sizes, including budding and agile start-ups.
Why is it important for every company to have a digital platform strategy?
While digital platform incorporation often means a core change in business strategies and models, it is not something to be dreaded. Well-thought digital strategies can help drive your company to success. The following are the reasons why your organization should have a digital platform strategy:
- Increase your business’ value proposition by creating essential digital platform value.
- Develop necessary digital platform skills and diversify and update it as digital platforms evolve – this helps your company to adopt a platform business model smoothly.
- Create a vibrant digital community where you can “seed” user to generate content and leverage the community to make more sales.
- Make your community the place where your clientele actively connects with people with the information, products, and services they are looking for.
- Integrate with future, interconnected tech trends where direct transactions happen securely, eliminating middleman platforms.
Genashtim is proud to offer the Business Strategy program in collaboration with eCornell. The program will help you put together an effective digital platform strategy.
eCornell courses are approved by SkillsFuture Singapore for SkillsFuture Credit as well as by HRD Corp Malaysia under its SBL-Khas Scheme.