2. Construct a strong technology orchestrator function
A strong, respected and accepted central function will be required to propose trade-offs, decide common standards, and maintain strong security for all. The ecosystem IT function must be empowered to drive internal change.
3. Build to the highest common standard
Participants will inevitably come to the organization with different levels of digitization and systems. In general, you cannot ask the strongest to compromise on systems and networks that integrate with their own. Build to the highest common standard. This is particularly true in cybersecurity.
4. Leverage the data of all
Make the most of the combined data of the participants. Integrate from all sources, build common analytics and merge rich data sources into a single view of the customer and combined analytics. Combined data can be one of the greatest assets of the ecosystem.
5. Use technology to make your company the ecosystem partner of choice
Establish ecosystems as a core competence of the organization. Use a platform approach to make ecosystem partnering rapid and effective. Integrate easily and leverage the data of all participants. Make your company easy to connect and share data with, and the most capable of managing common technologies issues that may arise.
There are clear challenges – technological and otherwise – in making ecosystems a success. However, given the high adoption rate of ecosystems across almost every industry, avoiding these challenges is not an option for CIOs.
The larger picture is that ecosystems can create dramatic success for companies – in revenue growth, operating efficiencies and managing risk. These rewards can far outweigh the challenges of getting there. Creating excellence in ecosystem technology can be a strategic and operational driver of success in today’s complex and ever-changing business landscape.