Advances in technology, increasing globalization and time to market pressure have changed ideas about the best ways to do business. Companies can't operate alone on the market anymore. They need to become proactive in developing mutually beneficial relationships with customers, suppliers, and even competitors. This is crystallized by the formation of ecosystems which compete at most with other ecosystems and not with single companies anymore.
This business ecosystem consists of a network of interlinked companies that dynamically interact with each other through competition and cooperation to grow. An ecosystem includes suppliers, distributors, consumers, government, processes, products and competitors.
The common denominator of all stakeholders within such a business ecosystem is a specific object of interest. This may be a vehicle, a building or any other object, for which all parties execute transactions. Such transactions may include the building, maintenance, sales, registration, modification, etc. of the object.
The ecosystem enables stakeholders to share common data and processes. Thus, it reduces friction and catalyzes the digitalization of the intercompany business.