We have understood via our previous article that:

A Digital Platform is any type of system that facilitates many-to-many interactions. An example of such a digital platform is a marketplace, as it lets multiple sellers interact with multiple buyers which is quite unique and different from a physical store, that works on a one-to-many basis.

Digitalization has enabled a variety of platforms to emerge in cyberspace facilitating numerous many-to-many interactions and thus creating systems that intermediate between participants, helping them to connect and exchange something of value.

Based on the different forms of exchange being facilitated by digital platforms from within, a digital platform embarks and differentiates between six different types or categories, all revolving around a different sort of matchmaking that is facilitated by digital platforms.

The Key Elements are as follows:

• Digital Marketplace: In a digital marketplace, multiple buyers are matched to multiple suppliers and can be developed into a platform by allowing other suppliers to sell through their system.

• Digital Search: In a digital search platform, multiple people looking for information are matched to multiple sources of information so as to gather. As a search request triggers the system to actively seek out the desired information, it is often also called a search engine. Many specialized search engines do exist, such as Foursquare, that help to find services close by, apart from the regular ones such as Google, Yahoo, Bing & Baidu.

• Digital Repository: In a digital repository, multiple suppliers ‘deposit’ their materials into a type of library, to be retrieved by users at a later moment. In other words, the matchmaking is/need not be immediate, but it can take a few days, weeks or years for people to view.

• Digital Communication: A digital communication platform is a system that allows multiple users to send messages and/or documents to a variety of other people, or interact in real-time via voice as well as video. While some of these digital communication platforms have their own dedicated technical networks, some companies are cloud-based.

• Digital Community: On a digital community platform, people who want to remain virtually connected for a longer period of time can find each other, hook up and exchange information with one another. Social Media Platforms are the prominent ones.

• Digital Payment: On a digital payment platform, matching takes place between those owing money and those wanting to be paid. A few Examples are PayPal and Apple Pay which are directed at online consumers. While Adyen, works ‘behind the scenes’ on behalf of companies.

Conclusion:

By opting for a digital platform strategy, an organisation is given new innovative opportunities to generate continued revenue with a new business model.

Concurrently, a digital platform can also be used directly to achieve sustainability objectives.

There is no ‘one size fits all’ strategy for creating a digital platform that is both successful and sustainable.

But, this strategy starts with a vision, guts and iterative experimentation to determine what is the best approach for the organisation, its customers and society.

Learning a design & validation framework for leading Intrapreneurs to create their own platform and fine-tune a sustainable business model around it paves a way for how to launch and monetise digital marketplaces.

Arriving at a prototype approach in building the platform with a roadmap with step-by-step actions to validate platform ideas and test them repeatedly to arrive at actionable tools and techniques to evolve needs to be in place to succeed and prosper.

The organization benefits from digital transformation and its many opportunities for timely communication and exchange.

As a part of digital transformation and being technology innovators using learning experience platforms at mPowerO, we are well versed in understanding traditional business models across industries that can be reshaped into platform business models to facilitate accelerated growth, in order to adapt to digital innovation.

Our aim is to facilitate co-developing the business platform concept together with our clients while we help structure the technology framework that will enable the digital platform to go live in the shortest possible time, hence providing an end-to-end solution that encompasses business and technology, making mPowerO a pioneer and a one-stop shop for our clients’ platform transformation journey.

The digital revolution has brought new network-based value chains and “coopetitive” business models. Traditional, linear value chains with their competitive business models – otherwise known as product-based business models – are striving to/have been replaced by platform-based business models as platform-based businesses are winning & hence thriving with more enhanced visibility and profits.

As the transformation to digitalization continues to evolve, now are exciting times for businesses who want the opportunity to get us there collectively through the implementation of SDGs and allowing us to guide platform privacy, security, and ethical standards.

The platform revolution has opened up myriad new opportunities/challenges in meeting global sustainability goals.

An LXP such as mPowerO, can help you in an end-to-end training development solution, from identifying the right skills to building them while providing an impactful learning experience, across various verticals & industry sectors, for organizations, in order to achieve sustainable growth.

For instance, as the distributed workforce does not have time to learn, they need an OJT platform that is mobile-friendly as they are always on the go, to remain on par with the competition and technological evolution.

Upskilling the Frontline workforce with Learning Experiential Platforms (LXP) driven by the latest advanced technologies is crucial to get the most out of this valuable resource. Creating a culture of continuous, interactive learning/training through on-the-job training for the frontline staff via m-Learning with the LXP tool from mPowerO, a frontline workforce enablement solution can help train the frontline and take them to the desired next level, to achieve desired goals.

mPowerO platform can assist in managing the complete lifecycle of a frontline, from onboarding to moving them up the career ladder by empowering them with the right skills and knowledge, with improved performance.

OJT with the right mix of the latest technology via an automated skilling platform creates uninterrupted learning/training and seamlessness in a hybrid work model/environment, thus promoting impactful learning experiences.

An LXP can be a definitive helping hand in providing impactful personalized learning/training experiences in order for the employees to be successful and also the organization.

An LXP powered by the latest AI could further keep up the Frontline workforce up-to-date through micro-learning content merged with AI content recommendations along with an advanced data analytics platform to showcase the outcomes for better learning/training outcomes and learning/training experiences.

For upskilling Your Frontline workforce, mPowerO provides continuous support and is an end-to-end offering to Online Learning Platforms/Solutions, Digital Publishing Solutions, Upskilling/ReSkilling and Skilling training opportunities for medium to large companies.

mPowerO has evolved from being an Online Learning Solution (LMS) to serving as LXP in order to accommodate larger targeted audiences for educational/publishing and skilling requirements of various medium to large organizations/enterprises.

Talk to our expert team members for a deeper understanding and more related information.

Reach out via email at info@mpowero.com or visit us at https://www.mpowero.com/ for more information.

Happy to Help!