Over the course of history, the world has witnessed numerous market downturns and eventual recoveries. But the events of 2020 are different. As a result of the pandemic, people are living differently, customers are buying differently, and businesses are being forced to think differently. The continuous shift to digital is happening at tremendous speed and shows no signs of slowing down.
This is a wake-up call
The pandemic is serving as a reality check for businesses that have focused on day-to-day operations, instead of long-term resilience. We believe the journey to building long-term resilience includes adopting an ecosystem strategy that enables businesses to reach a limitless customer base. If you look at some of the largest companies today like Microsoft and Amazon, they have gained massive advantage scaling through network effects. As a result, these companies have continued to thrive in uncertain market environments. However, building an ecosystem-led strategy isn’t easy. Ecosystem relationships used to be relatively simple. But now, all parts of the value chain have evolved into complex interdependencies. In many cases, companies purposely avoid leveraging an ecosystem-driven approach because it’s too complicated to manage.
Orchestrate ecosystem complexity
The key behind a successful ecosystem strategy is to orchestrate B2B ecosystem complexity. CloudBlue has been at the forefront of enabling the world’s largest B2B ecosystem. Through listening to our customers we are learning about their biggest business challenges and orchestrating the most complex parts of their ecosystems.
During my keynote at CloudBlue Innovators Forum, I highlighted key pillars we are addressing to enable and grow your B2B ecosystem, including:
- Subscription Management: Manage your subscription business on a multi-tier basis and completely manage the entire subscription lifecycle.
- Partner & Channel Management: Quickly onboard your partners to resell your products and create a multi-channel business.
- Vendor, Catalog and Product Information Management: Easily create your catalog of products and manage your product information.
Reprioritize your digital strategy
So, where do we go from here? The current environment has presented many unknowns. But one thing we do know is this will be a digital-led recovery. During my keynote, I provided some general trends on how fast this digital disruption is occurring and a few customer stories highlighting how CloudBlue is scaling their businesses by orchestrating some of the most complex parts of their ecosystems.
In this unprecedented new reality, reprioritizing your digital strategy and building long-term resilience with an ecosystem-driven approach will be key to unlocking growth in the Next Normal.