Orchestrate opportunities with collaborative ecosystems
How ecosystems can help transform your business
Shifts in technology demand more than just an immediate response. The demands for data convergence, accountability and innovation are accentuating the need to transform.
Growing consumer and societal expectations, the effects of climate change, and increased globalization and geopolitical tensions elevate that need to transform into an absolute imperative.
It will take new, diverse thinking as businesses seek to transform. No company can do it alone.
Through new partnerships and perspectives, ecosystems yield the right mix of capabilities and insights that accelerate your speed to market, reduce costs and spark innovation — now and into the future.
To respond to these challenges – and concurrently remain competitive — businesses must move toward collaboration. Ecosystems help future-proof businesses with the transformative power of data, technology and relationships.
Leverage ecosystems to help transform your business
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Competition has long been the default mode for companies across industries. But 2023 is the time to recognize that collaborative business models, like ecosystems, may outperform purely competitive ones.
Can collaboration accelerate competitiveness?
An EY Ecosystem study shows that companies that are embracing ecosystems are generating significant value as a result. On average, high-performing ecosystems drive 1.5 times the cost reduction, contribute 1.5 times more to annual revenue, and achieve 2.1 times the incremental revenue growth of low performing ecosystems.
The graphic shows three advantages of ecosystem business models over traditional business models.
- R&D - where 68% showed increased access and sharing of R&D assets.
- M&A - where 67% showed higher growth opportunities.
- Growth - where 65% showed increasing efficiencies and reducing costs.
Adapt quickly, accelerate faster
Companies that build ecosystems outperform their peers. Watch as EY’s Sam Johnson discusses how companies can unlock the transformative power of ecosystems.