5 Anti-Patterns to Avoid in Platform Thinking
Blog: NASSCOM Official Blog
Platform-first has become such a common business-tech phrase that HBR has coined a term for this phenomena; “‘platformania’…a land grab, where companies feel they have to be the first mover to secure a new territory, exploit network effects, and raise barriers to entry.”
But, the excitement is not without reason. 7 of the world’s 10 largest global companies are underpinned by some of the most evolved technology platforms we’ve seen. In this paper, we discuss what extremely successful businesses have in common i.e. platform technology.
In a reality where every business wants to either build or become one, it’s a good idea to look at what platform thinking is. The nonlinear growth curve achieved by technology platforms is centered on: Removing friction within delivery teams. This is achieved through high quality, self-service access to foundational technology.
Creating an ecosystem of technology and business capabilities. This is achieved by leveraging domain-driven principles and carefully-factored business capability interfaces (APIs) that are critical to an effective and modern Service Oriented Architecture (SOA) strategy.
Explicitly investing in a foundation for experimentation. This is achieved by empowering delivery teams to easily test new ideas and validate learnings.IDC predicts, “ By 2020, 60% of all enterprises will be in the process of implementing an organization-wide digital platform strategy.” This is indicative of India Inc. not being too far behind when it comes to ‘platformania.’
In fact, the Indian government has been treading this path with the trinity of JAM (Jan Dhan accounts), the Aadhaar ID system and mobile technology. India’s digital backbone, another moniker for this trinity, is fuelling rapid digital transformation across the country and fostering a competitive innovation agenda that both the public and private sector can partake in.
For instance, fin-tech is one of the biggest beneficiaries of the Aadhaar platform with, now, countrywide access to banking and finance services through banks, loans, micro-insurance, lending and more. Another example is Jio Digital Services, a new digital services company that is set to act as an umbrella platform for all the Reliance-owned digital businesses including Reliance Jio, MyJio, JioTV, JioCinema, JioNews and JioSaavn. The platform is investing in emerging technologies such as blockchain, artificial intelligence and machine learning, and is also embracing virtual, augmented and mixed reality, natural language processing alongside voice-enabled services.
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