Collaboration and digitization of value chains is the way forward!

It has never been as easy to generate, manage and share data as it is today. This has given us completely new ways to create customer value. Data is the new oil, they say, and most of the world's largest companies build their business around handling data. Although it can be difficult to relate to the largest companies, all businesses need to understand how they can create value from data and how others can take advantage of it. It is important to understand ones strengths and see business in a larger perspective, an ecosystem. Where can we create value and how can others benefit from it? What strengths do others have that we can benefit from? Technology is rarely the limit, instead it is the resistance to share information.

In an increasingly complex world, it is difficult to be the best at everything. We need to collaborate to be competitive. Throughout all time, we have been forced to be good at cooperation to even survive at these latitudes. The collaborative culture that has been highlighted is perhaps our single greatest competitive advantage for the future. With technology we can do a lot, but not without people. In order to reach the full potential of digitization, trust, transparency and a willingness to cooperate is required!

Analyzes carried out in the Digitala Stambanan project show that the vast majority of state-funded digitization projects focus on solving specific challenges within a company. So far, too few projects have focused on what digitization can do to develop collaboration between companies. Therefore, I believe that more effort should be put into how digitization can increase collaboration in value chains and create new values.

The success of the largest companies is based on taking collaboration to a new level. Their solutions, platforms, enable transactions or exchange of information between different parties to be done very easily and smoothly. They also involve different actors in the solution to create benefit for each other, which in turn attracts more people to participate. A simple example is social media. If your friends are there, you're more willing to be there too. The more people that engage in a platform, the more interesting it is for third-party developers to develop new features. With new and better functions, more people are attracted to participate. Whoever owns the platform can monitor and control the users who participate. With the user data that is generated, an increased understanding of the users is created and new values ​​can be created more easily. Anyone who succeeds in starting such a positive spiral for cooperation can build great values ​​in a short time.

I don't mean that all companies can or should be like the biggest companies in the world, but I think there is a lot to gain from understanding the mechanisms behind and what collaboration means to be successful. Cooperation and digitization in value chains is the way forward to maintain and strengthen the competitiveness of Swedish industry!

Magnus vit 2
Author: Magnus Mörstam, Intelliger

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This article is categorised as Intermediate  |  Published 2022-09-21  |  Authored by Matilda Hurtig