The trend towards business ecosystems and their underlying platforms is omnipresent and promising. Enterprises aim to benefit from new distribution/purchasing channels, cost efficiency and new services. In an online event on December 1, 2020, we provided business and technology impulses and discussed key aspects of platform-enabled business models with top experts.
The key takeaways from this session:
- VDMA, the largest network organisation and an important voice for the mechanical engineering industry in Germany and Europe, requests to develop a clear strategy for platform business. Such a strategy initially complements the business activities, but often results in a real transformation. So think big, smart small!
- Enterprise IT plays a pivotal role as a business partner. Strategic decisions about the type of ecosystem/platform and the role of engagement (i.e. to create and operate a platform, to act only as a supplier or to consume only) are required.
- To enable real-time data interactions with internal and external parties, modern EA management, characterized by API first mindset and microservice architecture (MSA), is the key to success.
The webinar is available in full length below in German language. But before that, how about a simple definition of what exactly platforms and APIs are? See how Ramanpreet Singh, one of our lead architects, explains this to "Little Paula":