Platforms, emerging tech and the convergence of service and software can accelerate business transformation.
Customer expectations and new business model opportunities are now forever fast-changing dimensions. Organizations can no longer afford to build proprietary-only waterfall solutions or they risk competitive disruption and loss of customer loyalty.
EY is not immune to these truths, and we are being forced to respond in order to protect and enhance our competitive position in professional services, as well as address the evolving expectation of how our clients want value and solutions delivered to them – and ultimately their end consumers.
The good news is that there are three paradigms which, when used effectively together, are unlocking the ability to respond at pace. We are embracing these because we see them as fundamental to surviving and thriving in this new and rapidly changing world.
1. Criticality of platforms
The use of platforms, modern digital value-exchange marketplaces that allow communities to engage with firms and their ecosystems, has become an increasingly useful and important mechanism to adapt to customer experience and transactional requirements.
By extending the enterprise beyond traditional or legacy customer interface options, new doors are opened to create powerful ecosystems of core capabilities partnered with ready-built solutions and newly evolving and promising technologies. Of course, this requires a culture shift and level of trust and openness to move beyond the thinking of “I’ve got all the answers” to a position that is open to challenge, collaboration and disruption. This is no easy task but, if done effectively, the results can be better answers – brought to bear faster – with less up-front cost and lower infrastructure requirements.