Part of being a successful enterprise is knowing what you can, and cannot, offer your customers. As the world becomes savvier, and consumers are demanding more customized solutions, it makes sense that businesses are looking beyond working solo and forming partnerships with other companies. It is why collaboration between vendors, or co-creation, is quickly becoming the go-to strategy for those wanting to provide comprehensive solutions, deliver in a rapid timeline and uncover innovative opportunities.
The Value of Partnership
The most useful partnerships are with those businesses that can deliver something that you don’t specialize in, but share in customer segments, mission and interests, and believes in trust and transparency. If done well, these ventures produce quick results, better and more complete solutions and greater value to your customers — a mutually valuable outcome for all parties involved. Below are four critical ways in which building a strategic partnership can amplify your outcomes.
- Sharing Resources
When working with another business towards a common goal, being able to share resources is one way to overcome obstacles and deliver a compelling solution. Funding, technology, manpower and publicity are just some of the resources that businesses can share in order to increase the value of their offerings.
- Sharing Information
Aligning business interests between companies works best when those establishments share goals and knowledge. Growth is achieved through continuous learning and continuous investment. Gaining the expertise of another industry leader propels innovation, supplies excellent products and creates exceptional customer experiences.
- Cultivating Trust
Working with an industry leader creates confidence. Accepting where your strengths begin, and end, generates trust. When customers see that Company A has certainty in Company B that they are willing to share product collaboration, it produces assurances for all involved, increases value in the eyes of the customer and enhances the perception of both businesses in the industry.
- Delivering Agility
You may be able to launch new solutions alone, but when you co-create, not only are products and experiences better, but they get to market faster. Rapid delivery is what makes agility possible, and by embracing market feedback, agile methodologies (like MVP) allow for ongoing transformation.
Technology Partners vs. Consulting Partners
There are two main types of digital partners that are well equipped to deliver transformative project success – technology partners and consultants. Working with other market-leading technology organizations produces solutions that give customers exactly what they want, when they want it, generating stronger market positions for all. Combining technology with consulting allows new propositions to be launched through a more informed process of decision-making, resulting in a unique view of what is possible. Both types of alliances apply industry-leading innovation, a creative workforce and proprietary resources into launching comprehensive solutions into the market quickly.
Technology Partners: Meeting the Needs of Customers in the Digital Age
MATRIXX Software and Vlocity, a leading provider of industry-specific cloud and mobile software, launched Go Digital™. Go Digital™ is a pre-integrated cloud native solution that can be quickly deployed for rapid transformation. As a technology partner, Vlocity co-created Go Digital™ utilizing the Salesforce platform and combines Vlocity Communications Industry Cloud apps and the MATRIXX Digital Commerce Platform. Joining together the capabilities of these two market leaders created a product that lets customers define their user journey with real-time visibility and control, offers that are customized and excellent omnichannel experiences.
Consulting Partners: Delivering Fast-Track Digital Transformation
MATRIXX and Delta Partners, a leading advisory firm that identifies opportunities for transforming telcos, co-created for a major telecom operator by working together to produce an innovative business plan combined with transformative technology. The operator wanted to offer a disruptive, on-demand experience to their customers in the Middle East, Africa and Asia, quickly. Together, MATRIXX and Delta Partners analyzed the operator’s portfolio and recommended modern solutions to evolve their brand. They then suggested an agile development approach to launch these solutions into the market quickly and created mutually agreeable digital offerings. In addition, MATRIXX recommended employing a Minimum Viable Product (MVP) approach, which introduced these new capabilities into the market in a short seven months.
Working Together to Provide a Winning Digital Experience
When two digital leaders combine their strengths, the culture of the industry shifts. In today’s digital age, it pays to be disruptive. At MATRIXX, our goal is to reinvent global business, and that includes developing partnerships within the tech industry. By working together, we can meet the needs of the modern telco and the modern customer. Find out more about how to become a MATRIXX partner.