Digital business platforms are essential
One challenge facing more mature enterprises is how to operate and innovate like a newer, more agile business. This is where digital business platforms can help.
So, what is a digital business platform? A digital business platform is a modular collection of best-in-class digital technologies that integrate with your legacy infrastructure. Most importantly, it makes your end-to-end business processes more flexible by allowing them to learn, adapt, and continually deliver winning client experiences.
McKinsey believes that building a digital business technology platform – or digital enterprise platform – will help companies to experiment, fail, and scale quickly. And get products to market faster than their peers – think weeks, instead of months or years. Gartner sees digital business platforms as fundamental to scaling a business. Scale often requires ecosystems, so digital business platforms should support it with connections between processes and functions to build these ecosystems.
Finally, Aragon Research adds that digital business platforms are essential to prepare and deliver for the customer of future. “These platforms adapt to changing customer needs through the resources that service customers, processes, and applications that dynamically adapt and optimize in a predictive manner."