Digital ecosystems are fundamentally changing how businesses collaborate and compete. Our digital ecosystem consulting team helps clients get ready to be part of—or to build—a digital ecosystem.
Companies once might have kicked off a joint venture or a strategic alliance with a few industry partners to share risks or enter a new market, but now many companies collaborate in digital ecosystems of dozens or even hundreds of partners from several industries to bring their offerings to market.
This new collaboration model isn’t a fad; it’s the future of business. Many of the world’s largest companies are part of vast digital ecosystems that are disrupting not just their industries but broad swaths of the economy.
A digital ecosystem is when many largely independent economic players join forces to create a digital offering that is more valuable than a single company’s product or service. Some digital ecosystems develop solutions—like a connected car or a smart home. Others bring together buyers and sellers on a digital platform.
BCG helps companies looking to develop or participate in a digital ecosystem move from strategy to scale in less than 24 months.
BCG collaborated with Celcom Axiata, one of Asia’s largest telecommunications companies, to transform a simple phone card into an e-wallet and lifestyle app called Boost. In less than two years, it became Malaysia’s leading cashless platform—a digital ecosystem of 17 banks and a growing list of more than 125,000 participating merchants.
The BCG Center for Growth and Innovation Analytics uses data science to mine vast troves of unstructured data to spot tomorrow’s opportunities and provide forward-looking data-driven insights in the areas of technology, IP, innovation, and growth.
BCG’s Fintech Control Tower monitors and conducts deep research on global fintech and insurtech trends and supports clients with innovation discovery, scouting and sourcing, and open innovation efforts.
BCG’s comprehensive benchmarking tool constructs a comprehensive view of the competitive landscape and provides key insights into what makes digital ecosystems successful.
BCG’s Digital Ecosystem Accelerator is a diagnostic survey, supported by a benchmarking database that contains more than 90 companies from across sectors and regions. The Accelerator addresses key questions about participating in a digital ecosystem. For more information, contact Ask_DE@BCG.com.
BCG’s Digital Acceleration Index helps organizations assess their digital maturity by uncovering their digital strengths, identifying gaps in their digital capabilities, and evaluating their performance relative to their peers in digital efforts.
Trust can make or break a digital ecosystem. The digital trust network can help leaders develop and bolster sustainable trust among participants.
Resist the temptation to scale back investments—instead, use the benefits of digital platforms to help your company through challenging periods.
The next few years could be make-or-break for some banks. If they don’t join the digital ecosystem movement, they will be consumed by it.
Advanced capabilities, emerging technologies, and new organizational models are required—but the value upside is tremendous.
