A changing relationship
We are in uncharted waters today: a pandemic and economic upheaval, coupled with rapid technology change, rising customer expectations and more. These developments have impacted the world of commerce, including business relationships. One notable relationship change is between large technology providers and the strategic partners, with the latter having more options today. The reason for this powershift is-
In this battle for partner mindshare, to win, providers must differentiate themselves to be the default choice that partners will recommend in their customer discussions. Accenture believes that they should focus their leadership and resources in these three areas:
Creating frictionless experiencesProviders need to support partners to deliver on their customers’ needs and unlocking their growth potential. It also means leveraging advanced technologies like artificial intelligence and automation to enable collaboration and innovation for the ecosystem.
Though united in their pursuit of profitable growth, now providers are asking partners to step up to deliver on customer expectations. Three ways the higher customer demands are affecting a partner’s operational costs and investments are:
Giving partners the support they need
- Use of technology to bring value to their own end-customers
- High-quality interactions and conveniences, in-person or online, with 24 x 7 availability
- Tailored, end-to-end solutions fitting their needs.
Co-innovating for growth
It’s time for a change. The ability to innovate is the top criterion for partners on choosing a particular provider, followed by brand reputation and technology compatibility. But innovation is not a solo performance. Accenture believes that companies should:
Providers should start exploring co-innovation capabilities with members of their ecosystem. In parallel, companies must ensure mutually beneficial value for partners and providers to monetize, commercialize and protect intellectual property in parallel. The enablers for the solution development lifecycle for the partners are the same- solution funds, developer toolkits, solution marketplaces and innovation labs.
Co-investing for the future
The ability to innovate is the #1 criterion when partners are choosing a provider to work with. In this light, companies need to rethink their co-investment model and how partner and provider contributions are evaluated and measured. Hence a shift in the co-investment methods, from traditional Market Development Funding to the emerging Innovation Development Funding.
Collaborating at scale
In order to achieve and sustain value over time, collaboration across different models is key—moving from fragmented partners working in silos to cooperative relationships across multiple channels and at scale.
AI provides three advantages:
How to be the provider of choice?
Providers must orchestrate an ecosystem of co-innovation, co-investment and collaboration to create the conditions that increase partner mindshare. They must offer their partners a path for growth and help develop the capabilities needed to achieve that growth, helping create a meaningful partner strategy with partner and customer experiences at the core, supported by the provider’s capabilities, data and support.