When we think typically of business organizations and financial institutions competing over products and services, we consider that aspect where organizations charge to build a better mousetrap. Now in the networked age of today, there is an increased competition over platforms. This rapid advancement has brought various business organizations and financial institutions to the reality of building better platforms which will help them have a decided advantage over the competition at a global level.
When constructing a platform, what
comes to mind? A platform is a system
that helps you up and on which others can
stand in of which same can be said in
business. In the scope of building digital platforms, business organizations
and financial institutions can connect their
business and institutions easily with others, produce products and
services and create value. This creation of platforms in organizations and
institutions gives them the ability to connect and play as it is a defining
feature of Platform Thinking. Let’s put
into consideration the smartphone market, we
can confirm the fact that the former phones and digital devices are a shadow of
their former selves in our world of
today. This technologies are obsolete and lag in this competitive, ever-evolving industry.
Business organizations and financial institutions must be inspired enough to develop the ability to create a successful platform that will determine their ultimate success in the competitive global market. Platform thinking, when used by the organization, goes beyond the technology sector because product retailers are rapidly moving from selling products through the distribution channel to engagement platforms in which values are co-created. Online retailing is the order of the day in our markets today like Amazon, and they are leading the way, and now traditional retailers are following suit.
Platform for the Next Level
lot of renowned business organizations, financial institutions, and corporate giants are now massively shifting
from products to platforms. That’s why we
have been able to create a custom platform of platforms with the concept of platform thinking to enable
organizations, and financial institutions
connect and level up in the global market. Our custom platform of platforms consists of three different transformative
technologies that have driven the rise of
platforms which has greatly benefited business
organizations and financial institutions. The custom platform of platforms
consists of social, cloud and mobile technologies.
In our innovative custom platform, Social networks connect organizations and institutions together globally and maintain their identity online. The cloud technology creates a global infrastructure for production, giving anyone access to create content and applications for an audience globally. The mobile technology allows multiple connections to this global infrastructure anywhere, anytime. This results in an accessible network of entrepreneurs, workers, and consumers who can develop businesses, create content, and purchase goods and services.
innovative platform of Platforms also depends on the power of network effects
as more users and consumers are attracted in which they become more valuable to
those users. In this light, the success of our innovative custom platform of
platforms strategy is determined by three major factors which are how easily
other organizations platforms can connect into our custom platform to transact
and share. Secondly how well our custom platform can help other business
organizations platform to attract participants who
are both consumers and producers. Thirdly, how well the innovative custom
platform fosters the exchange and co-creation of value.
Transforming Business Models Globally
The innovative custom platform of platforms is made up of three building blocks which enable other business organizations and institutions platform to be successful and achieve their goals. The first building block is the toolbox which creates a connection by enabling other platforms to connect easily into the platform. This facility in our custom platform enables interactions between participants. The second building block is the magnet that creates a pull that attracts users and consumers to the platform with social gravitation. In the case of transaction platforms, to achieve critical mass both producers and consumers must be present. Our custom platform has created an infrastructure that enables the design of incentives, reputation systems, and pricing models. It also leverages social media to harness the effect of the network for rapid growth. The custom platform of platforms incorporates the matchmaker to foster the flow of value by creating connections between consumers and producers. Data is right at the core of successful matchmaking, and this differentiates our custom platforms from other platforms and business models. The facility of the matchmaker in our custom platform, rich data’s of the participants, are captured, and it leverages that data to facilitate connections between producers and consumers. But not all platforms place the same emphasis as our custom platform of platforms has done on all three building blocks.
We will see in the nearest future, so many business organizations and financial institutions edging from products to platforms. We would see organizations and financial institutions involved in the business of extermination worrying less about building better mousetraps but building more on mouse catching platforms like our innovative custom platform of platforms.
Our custom platform of platforms allows enterprises to set up a very powerful cloud-based, industry-focused ecosystems for value innovation and exchange among users and consumers. After experiencing the initial debut in the technology sector, it is now beneficial to almost all large organizations and industries, including manufacturing, finances, public sector, telecom, transportation, health care, and utilities. The innovative custom platform of platforms is a very different animal from traditional information technology (IT) projects. It often involves the whole business organizations and financial institutions which require multiple business platforms to cohabit together and remain in close alignment.
Communication of excellence and collaboration
is, therefore, an essential ingredient in
our innovative custom platform of platforms. It promotes a capacity of having a
shared understanding of the vision, strategy and end game of the custom platform
approach. It’s valued for all
organizations involved and a shared commitment to its success.
Most business organizations and financial institutions are faced today with the fundamental question that underlines Platform Thinking which is our stronghold in the innovative platform of platforms. So how do we enable others to create value? Also, building a better mousetrap still might not have the world beat a path to your door, but our exceptional custom platform might just do the trick.