CLOUD VENDORS
HOW DIGITAL ECOSYSTEMS ARE EVOLVING
Digital ecosystems are having profound effects on what businesses believe they are capable of . We asked experts across technology for their views
WRITTEN BY : ALEX TUCK
Big Tech first pioneered the concept of business ecosystems to monetise its technology platforms and customer relationships . Ecosystem-based strategies are primarily collaborative models , set up with the knowledge that no business by itself can address all the needs of its customers , and a collective of businesses is much better-positioned to do so — especially in a digitally disintermediated world .
This is the view of CEO Nanda Kumar of SunTec , the world ’ s no . 1 pricing and billing company , which specialises in creating value for enterprises through its cloudbased products .
Kumar believes the benefits of an ecosystem are multiple and can vastly improve brand health for the financial services industry .
“ A recent survey carried out by Deloitte Consulting AG and The Ecosystems Competence Centre of the Business Engineering Institute , St . Gallen , concluded that by 2025 , about 30 % of the revenues in the financial services industry will be generated in cross-sector ecosystems ,” he said .
Kumar added : “ More than half of respondents said their businesses
48 April 2022