Amyx+ Contributes to Accenture & G20 Report: Five Ways to Win with Digital Platforms
Digital platform companies are transforming the way we do business by creating vast markets, compelling customer experiences and new ways to innovate. But how will small and traditional companies find success in a platform landscape dominated by digital born companies?
Accenture’s latest research shows that platform businesses are proliferating in many countries…Small enterprises and large industry incumbents are actively establishing platforms. But our analysis in collaboration with the G20 Young Entrepreneurs’ Alliance suggests most new platform businesses will likely fail. And many major economies lack the enabling factors they require to help platform enterprises flourish.
We identify the critical platform success factors for businesses and policy makers.
Platform companies have generated market capitalization of more than US$4 trillion. Between 2010 and 2015, more than US$20 billion was invested globally in digital platforms for the online marketplace and financial services sectors alone. But these big figures mask the variety of new enterprises that are enjoying significant success with platforms in a range of industry sectors.
Platform success is underpinned at two levels: Entrepreneurs and incumbents must create the critical building blocks to establish platform ecosystems that are able to satisfy demanding customers and sustain rapid scale expansion. Meanwhile, governments play a role in creating the right environment enablers—factors and conditions within the broader economy that are necessary for platforms to emerge and grow. These are illustrated in Accenture’s Platform Economics Model.