A number of factors, such as globalisation, deregulation, harmonisation, increasingly rapid technological shift and digitalisation, have fundamentally changed the structure of an increasing number of industries. Technology and digitalisation are undoubtedly the most important drivers for change.
In this changing competitive landscape, all companies are facing significant challenges requiring transformation, collaboration and business model innovation.
The design of a successful new business model is always based on one key factor - the customer’s experience. Customers increasingly experiencing new products and services that incorporate combinations of services from a range of industries. Therefore, the new business models require new ecosystem cross-industry partnerships.
To some extent, companies are in a race to transform their business capabilities with highly automated business processes and IT solutions that deliver the orchestration, monetisation and revenue sharing of the contracted partnering relationships. These capabilities are needed to implement new, innovative business models in order to offer new cross-industry services to customers.