Digital Business Models
New Business Opportunities through Digitization
Digital business models mean that each and every process step is represented via software algorithms — and where applicable — devices or sensors, and the entire transaction takes place fully digitally on both sides. What is crucial is that conventional companies have a vision from the very beginning of what the ultimate goal of digitization is to be. In this regard, the Digital Consulting Experts provide assistance with their comprehensive market intelligence, and point out options for step-by-step transformation.
Because the introduction of a digital business model initially takes place parallel to the conventional business, it is expedient for companies to begin with the digitization of partial processes, e.g. within the supply chain, production, or marketing. One other option is to expand existing conventional business processes, such as digital pay-per-use payment models or the provision of small-batch replacement parts in the form of paid download files for 3D printers. Through the increasing network of things, IoT/M2M, AI, blockchain, cloud solutions, entirely novel business process and business models will evolve in the future. Feel free to ask the Digital Consulting Experts about ongoing projects.
Digital business models allow for cost savings, increased revenue, the generation of new sources of income, and the improvement of customer service. With automated processes in production, networked smart supply chains, marketing automation, customer services with AR technology, and the use of chat bots and IBM Watson in customer service, companies ranging from start-ups and SMEs to large conglomerates can reach entirely new dimensions: more flexible, faster, more competitive, more streamlined, agile, and hence fully equipped for the future.