The first step is for the organization to consider whether its business model is more suited to the role of an orchestrator, partner or enabler in the DE after assessing its digital and platform maturity and partnership ecosystem. To assess its DE maturity level, the enterprise must consider whether it is a DE adapter, accelerator or attacker based on its digital capabilities and level of transformational impact.
Most enterprises begin as DE adapters where digital transformation might be a pilot program and limited to a particular business unit or geographical market. The company leverages partnerships and platforms to create value for customers.
DE accelerators scale up digital transformation to a company or industry level by adding more digital capabilities and creating value from the platform economy. They offer a single platform that aims to connect users to it seamlessly. This can not only disrupt the company but also its industry as the organization redefines how business is conducted in the industry by being a first mover.
DE attackers drive large-scale transformation across multiple industries through cross-sector collaborations and technology capabilities across different parts of the value chain. Such businesses have a multi-platform model that can ultimately be transformed into a one-stop shop offering products and services across different industries in one integrated experience.
The enterprise must also determine the nature of the ecosystem, product market fit and monetization model to create value from the ecosystem. To further sustain and scale up the ecosystem’s capability and reach, key enablers for the DE must be identified, such as the technology stack, organization structure and culture, talent pool and external resources that need to be progressively developed to create a sustainable DE.
Finally, understanding and mapping the enterprise DE maturity within the ecosystem, building and growing partnerships, identifying the potential DE pitfalls and designing a risk mitigation plan are critical to building a successful DE.