Companies now-a-days are driven by and make use of multifaceted technologies to offer frameworks that allow end users to interact with each other and even use these frameworks to build their own companies and are based on a platform business model, in a distinct way, to grow exponentially and grab significant market share while composing the modern day platform economy.

We have already learnt from the previous article that Technology Platforms are ever-growing in order to address the data/information dis-similarities for the benefit of the economies all around the globe.

We have also seen a few examples of such Platform Economy platforms as follows:

1. a) Platform for Frontline Workers
2. b) Platform for Healthcare (/Pharma)
3. c) Platform for Automotives (Manufacturing)
4. d) Platform for Sales & Distribution (Retail/Consumer e-Commerce)
5. e) Platform for Digital Transactions (Payments)
6. f) Platform for Rural Agri-Tech:
7. g) Platform for Hospitality/Travel
8. h) Platform for BFSI/MicroFinance
9. i) Platform for Consulting/Advisory/ITES
10. j) Platform for Fintech

and so on or a combination of one another which is redefining rural commerce Phygically.

Traditional pipeline businesses have been around us for a few decades and for as long as we’ve had industry and were always the dominant business model until the digital revolution of the last few decades. These pipeline business models adapted to the procedure where the flow of value was linear from producer to consumer, like water flowing through a pipe, and hence is the name. These traditional companies offered goods and products that were spread across multiple industries, including automakers, manufacturers, oil and gas companies, and brick-and-mortar retailers.

Rapid digital innovation spanning across a few good years has witnessed many of the valuable companies from all industries to shift from a products-based pipeline model to technology-driven platform models with multiple offerings. Platform businesses do not exist only to make things but also to push them out to users and consumers thus encouraging their users to create, share, and consume while providing for interaction and transactional commerce with each other.

Modern business models are innovative and are easily adapting to disruptive digital strategy. Modern companies have the choice/chance to create their own platforms. If creating their own platform seems outside their scope, they can at the very least become part of another platform’s ecosystem by leveraging existing platforms to their advantage.

Many companies have been gradually (or) already embraced and incorporated the easiest way to integrate platform business practices into their own companies by using preexisting digital tools to engage their networks. Digital Adoption is progressing rapidly across industries.

Digital Transformation is happening abruptly and companies are developing new leadership and culture designed around understanding their customer base. The toughest option for management, to choose from, in various companies is taking an existing company and devoting a lot of time, manpower and money to building a successful digital platform, with all the stakeholders involved. There will be technology and skill gaps to overcome most of the time, and it will take years of effort to create the right team to build the right platform. But for some companies with deep enough pockets and a clear enough vision/leadership of what they want their platform to be, then this may be the best way to bring value to their market.

A lot has been written about the platform economy covering its benefits, its faults, and its future where experts agree that even though there are challenges with data sharing, privacy and information selling, the platform economy is emerging and isn’t going away anytime soon. On a macro level, the majority of the largest companies in the world are using a platform model, but only a small fraction of the top thousand can be considered a true platform. There is still a lot of scope for growth and innovation from both sides as the big players reach further into new industries while traditional businesses learn to adapt and develop into hybrid business models, hopefully combining the best of both models.

Conclusion:

Companies need to step-up and take the initiative of technology adoption for embracing digital transformation and hence digital acceleration.

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 instance, as the distributed workforce do not have time to learn, they need an OJT platform that is mobile-friendly as they are always on-the-go.

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

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 an 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.

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