Transformation, typically begins with the “ability to connect” and make available (expose) functionality and assets for consumption. This in turn enables better commerce and helps tap other businesses which give access to new categories of consumers.

APIs and Integration - as a means to connect internal and external ecosystems, are therefore the key ingredients to success for digital transformation initiatives. It becomes imperative that they are done right - all the way from strategy to execution.

According to a recent Gartner Magic Quadrant report on Full Life Cycle API Management, “It is impossible to provide the platform for any digital strategy, build ecosystems and run an effective API program, without full life cycle API management.” This report from Gartner is a culmination of research in a specific market that provides a wide-angle view of relative positions of the market’s competitors. There are several vendors who provide different components, tools to address the steps towards going digital and a few who provide a comprehensive package that addresses enterprise needs from strategy design to enablement. THBS has been positioned as a Niche Player in Gartner’s 2018 Magic Quadrant for Full Life Cycle API Management. It leads in the “Completeness of Vision” category among the Niche Players in this report.

According to Gartner Critical Capabilities, a companion research to Magic Quadrant, “By 2021, 65% of new applications will be built as a mesh of multichannel apps and multi-grained back-end services that communicate via APIs.”

 

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Retail consumers – Challenges

Competition to secure retail consumers has resulted in price cutting, as differences in service features is marginal. The option to secure loyal and an increasing number of consumers through facilitating businesses, particularly SMEs, who in turn would act as a channel to generate what we call the “network effect”, is a proven formula that has been used successfully by digital giants.

CSPs have traditionally focused on directly wooing the retail consumer, which does not permit significant value addition to the consumer’s business model, outside of the CSPs own intrinsic capability. An alternative has been - to create communities consuming related artefacts, operating under the CSP’s network in a platform model, such as Smart Cities to secure IoT (Internet of Things) traffic.

While this was a step in the right direction, the reality of revenues from IOT did not, as yet match expectations, nor was there a growing number of consumers onboarded. Such initiatives were put on hold, maintained as pilot projects or even discontinued. As we analyze what really drives traffic, it becomes clearer that increased traffic is the consequence of transactions taking place between parties that did not transact prior, or, as a result of meaningful interchange that is enabled, takes place with far higher frequency. This additional traffic, in a business to business setting, would drive loyalty if the CSP continuously enriched transaction possibilities by matching algorithms or housing applications that are relevant to specific industry groups to which individual platforms for engagement are offered.

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Infographic: Telecom Digital Ecosystem - CONNECTED HEALTH
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DIGITAL ECONOMY
ROADMAP TO REVENUE
Become 'The Platform'
BECOME “THE PLATFORM”
Winning in the Digital Economy means moving from Digital Silos to establishing your Business as a Platform using APIs
APIs
Leveraging your business as a platform opens up huge revenue opportunities by allowing your IT backbone to be monetized using APIs
APIs
APIs
APIs
Leveraging your business as a platform opens up huge revenue opportunities by allowing your IT backbone to be monetized using APIs
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Over the past decade, organizations that leverage the power of platform business models have grown significantly. Digitalization of products, services and business processes is reshaping the global landscape and platform ecosystems. The potential of the “Platform model” of doing business has been disruptive to traditional approaches like the “Pipeline model.” The latter looks at value being created by controlling a linear series of activities; value flows from the inside to the outside. The Platform model, on the other hand, looks at connecting participants in two-sided markets – generating value for both groups. The Platform model brings together producers and consumers in high-value exchanges. As the number of participants on each side grows, the value generated increases exponentially.

The Pipeline Model – Value flows from Inside to Outside

Opportunities have so far been addressed in a linear model. Value is conveyed one to one or in some cases, one to many.

You, as the provider conveys, from your own or managed resources, the value you identify as needed by your clients. This model relies on increasing internal capability to enable increased and enhanced offerings. Like a hotel chain having to build more rooms or a fleet operator adding more vehicles.

Pipeline Vs. Platform – Elements of a Successful Platform Strategy

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