Digital Ecosystems’ Value – Tap Into It!

Digital Ecosystems Value - Tap Into It

Digital ecosystems consist of an organisation and its relevant stakeholders, that may be direct consumers, customers, suppliers and employees forming a relationship utilising digital technology.

Most organisations have their core processes defined with the Enterprise Resource Planning (ERP) systems and these processes must reach out to the suppliers, customers and consumers by their employees’ executions. In this digital era, one can use digitally driven business processes from ERP to enable connection with customers and suppliers in the digital ecosystems.

The use of Social media, mobility applications, analytics and the cloud (SMAC) which are the digital suite of technology results in the ability to extend the ERP core business processes of an organisation to extend to beyond the organisations’ boundaries to digital ecosystems, providing the ability to network and collaborate with suppliers and customers, sell through digital channels or shops and utilise the supply chain value.

Digital ecosystems need to be exploited; they bring the seller and the consumer together using digital technology. Whether in the banking or retailing sectors, value can be derived beyond just offering customers new channels to transact or shop. From deliberately connecting in a two-way value creation between organisations’ employees and the suppliers or consumers. Whether it is informational value or efficiencies in self-service or enhancing collaborations in partnerships and relationships beyond old technological barriers. New business models that incorporate SMAC and extend to the digital ecosystems need to be developed and implemented.

How far do your core business processes extend to the customers, consumers and suppliers? Think digital ecosystem, digital business models and strategic digital assets.

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