Creating a Digital Ecosystem That Benefits Your Business – Forbes – Forbes

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The digital landscape has changed remarkably in the past decade, and new advances in technology are paving the way for more revolution. Perhaps one way the digital transformation has changed business most is in the way we share information.

In essence, the digital revolution has become the digital evolution. New advances in technology mean that businesses need to keep pace faster and faster if they want to survive in the world of Big Data.

We’re no longer silos of enterprises, consumers, and things. Instead, we all share one digital ecosystem. Gartner defines a digital ecosystem as an “interdependent group of actors sharing standardized digital platforms to achieve a mutually beneficial purpose.” In other words, it’s a blurry line between business and industry. Here are five tips for building a clear and beneficial digital ecosystem with scalable collaborations.

Create an Open Collaborative Environment

Seek an environment that is digital ecosystem-ready and get your company on board by preparing your organizational attitude and management. A recent survey by Gartner of more than 2,500 chief information officers found that spending is on the rise for digitalization, despite only a modest increase in IT funding. Currently, CIOs are spending an average of 18 percent on digitalization; expect that number to increase to 28 percent by 2018. The research also revealed that the major differences between companies classified as top performers were the creation and participation of a digital ecosystem.

To get to the top of the pack, enterprises must focus on their organizational capabilities. An IT skills gap will hinder your attempts to create a digital ecosystem; bimodal IT will be essential for companies in making a collaborative environment. This allows for the ready adoption of new technologies and adaptation of things and people into the ecosystem.

Foster Cooperative Relationships

Relationships are at the heart of business. The key to building and maintaining your digital ecosystem is to keep those relationships at the forefront. I think we sometimes fall into the trap of neglecting our customers’ best interests in favor of maintaining our status quo. But we no longer have the luxury of standing still, especially when the markets are shifting so quickly because of the digital transformation. A market disruption is good in this case—provided your business is on the right side of the disruption.

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