How Australia’s top-performing companies tap into business ecosystems

Our speakers

Ecosystem driven

Top-performing companies are using ecosystems to drive business growth, boost operational efficiency, broaden and deepen the customer relationship, improve sustainability outcomes, and manage risk in their transformation journey.

Transcript

Brady Dever, Partner, Financial Advisory Alliance Lead, PwC Australia

Our Accelerating Performance data tells us that Australia’s top performing companies are at least 1.2 times more likely to leverage alliances and ecosystems in their busine

We’ve seen this already on the sales side, with businesses collaborating together with others in go-to-market models and how products and services are packaged together and taken to customers.

We’re also now starting to see this in terms of how companies are now looking to drive efficiencies in internal functions. We’re seeing alliances and ecosystems leveraged in areas like tax reporting and compliance, financial planning and analysis, payments, cybersecurity and many others.

By leveraging alliances, collaborating with others and generating partnership opportunities, businesses are truly transforming for the future. 

So how do alliances and ecosystems unlock value? 

They do this through providing access to new customers, generating new revenue opportunities, and leveraging mutually complementary skills and capabilities to drive efficiencies.

It’s a win-win for all parties.

Rana Lahoud, Partner, Strategy&, PwC Australia

Our Accelerating Performance data shows that Australian top performers are more likely to be focused on ecosystems than their global peers but they are less likely to expect that a large proportion of future revenues will come from value pools emerging around society’s biggest problems. 

How do we tap into the source of value locally?

Top performing companies are interested in growing their own business and tackling society’s biggest challenges. 

This is the decade of action. If we’re going to achieve our 2030 Sustainable Development Goals, we need to tackle big issues like climate change, access to global healthcare, equality, and sustainable development. 

To do this, we need to shift from value creation to value sharing. As an example, we already know that governments and businesses are partnering with farmers and other supply chain partners to help shift towards more sustainable farming practices and to generate new revenue streams, such as carbon sequestration. 

To do this, we need three things. 

1. We need to think outside the box, go beyond organisational boundaries and establish meaningful collaborations and partnerships based on shared values. 

2. We need to think long-term. How do we shift from short-termism to establish long-term goals? The impacts of an ecosystem strategy will not be felt in the short-term. It takes time to materialise. 

3. Be action-orientated. Set ambitious goals and follow that up with an action-orientated strategy and delivery. Delivery will require both courage and commitment.