Enterprises are increasingly witnessing the benefits of digital transformation, especially in the wake of COVID-19, which has affected nearly every industry to varying degrees. As enterprises accelerate their digital transformation journeys, they are pivoting to a platform-centric approach. And with the increasing adoption of new-age technologies such as Artificial Intelligence (AI), Machine Learning (ML), Blockchain, etc., they are exploring newer use cases, with the ability to scale rapidly, driving newer revenue streams, further bringing their platform strategy and play to the center stage to drive business acceleration.
To understand the rapidly evolving platform strategy of enterprises, some of the inherent challenges of such a strategy, and what Service Providers and enterprises should be thinking of and be doing to help bridge the value chasm, we spoke to Srinivas Vuppala, Head ISV and Cloud at Sonata Software, to gather his perspectives.
Srinivas: Companies are focusing on accelerating their digital transformation efforts and are increasingly becoming connected. The connected enterprise achieves the ability of exchange value between stakeholders in newer ways. Platforms are crucial means to achieve such an ability between new business models and digital processes. They offer flexibility to pivot to new business models, create end-to-end digital processes, experiences, and engagements, improving asset and resource utilization. This needs companies to use newer strategies to create the necessary connected software or flexible business model software or digital process software by applying APIs or microservices.
Srinivas: Organizations must identify digital objectives and platforms that fulfil their digital agenda. This is an iterative, design thinking-based, collaborative approach. Enterprises must clearly outline the purpose of the platform, encompassing parameters such as business model, digital process, industry specialization, customer engagement, employee engagement, asset and resource utilization, etc. Some of the challenges that companies face in their pivot to platforms include –
Srinivas: Service Providers are increasingly taking a larger share of the platformation pie, handholding enterprises in their platform journeys. They are helping enterprises identify and prioritize use cases, build roadmaps, and execute those roadmaps by building new-age solutions and platforms. They are focusing on creating an execution strategy that defines buy vs build as well as leveraging the partner ecosystem to build new services and solutions. With the rapidly growing investments in various new-age technologies and IPs to build custom components, Service Providers are increasingly taking end-to-end ownership in the platform play, helping enterprise accelerate their platformation journeys.
Srinivas: Sonata has a range of platforms finding their use across industries and for a host of use cases. Some of our industry platforms include –
Some of our Engineering platforms include –
As enterprises embark on their platformization journeys, Service Providers are increasingly helping them drive custom outcomes and accelerate digital transformation journey outcomes. Platforms are here to stay and are defining how companies conduct business.