With the increasing advancement of modern technology, companies are finding faster and more effective ways of delivering products and services.
New players are disrupting long-standing industries and forcing businesses to be more innovative and agile. Companies like Netflix, Airbnb, and Amazon provide outstanding responses to customer demands that are changing the very nature of the economy.
The Disruptive Paradigm Shift
Netflix replaced Blockbuster with instant video streaming, forcing it to cease operations in 2013. The company is now disrupting the cable industry with its own commercial-free series. Uber is replacing taxi cab companies with a mobile app that can generate a nearly instant response from drivers in the area. Airbnb has completely upended the hotel and hospitality industry. These are just a few examples of the many companies that are displacing tried-and-true business models with new innovations. If you aren’t agile enough your company could be next.
AMP’s: the new “billing system”
These disruptive innovations in business models are amazing, but when you think about marrying those with downstream operational support challenges, that’s when it can get interesting. How do we take these innovations, package them, attach a value to them, allocate those charges to the right entities, and turn them into revenue? And, when a company needs to re-architect and re-package that solution due to competitive pressures, how do we make it a frictionless effort? Enter “Agile Monetization Platforms” (AMPs).
In order to support a truly agile business model, companies need a monetization process that’s just as agile. Many challenges arise when companies try to introduce disruptive ideas to downstream operational functions like billing, accounting, and finance. These functions should foster innovative thought and speed market response. AMPs allow companies to be disruptive leaders within their space by giving them the ability to y support and enhance innovative business models.
A Short Window of Opportunity
As this paradigm shift creates disruption within today’s economy, it also presents great potential for companies that are agile enough to take advantage of evolving customer demands. As this window of opportunity quickly closes, it’s time to capitalize on this trend before the competition does. To keep up with today’s growing global marketplace, companies need AMPs that are just as innovate as they are and fully support their initiatives in real-time.