When it comes to digital transformation, co-operation is more efficient than introversion
Digital transformation has an impact that was not expected in its magnitude. All those involved in economic activity, even the smaller local companies, must integrate the development of technological applications into their processes, budgets, daily life, as they must check new models, good practices, etc.
Since the 1930s, Nobel laureate economist Ronald Coase (https://en.wikipedia.org/wiki/Ronald_Coase), examined the functioning of companies in the real economy and came up with the idea of transaction costs. He argued that more complex processes such as demanding transformations are better done in-house as they cost less to the company, mainly because of the economies of scale that were the holy grail of the industrial revolution.
After 50 or so years of continuous technology development and a digital revolution, it seems clear that companies have grown to a point where all their energy goes into self-sustaining. The traditional company today is more expensive to maintain and is dominated by a new organization that, at least temporarily, is more efficient. This is based on the use of external partners, who are specialized in digital functionalities which they apply in great depth and thus develop applications and models much faster, more flexible and cost-wise extremely cheaper.
Despite the fact that this model is also being called into question as it is the best known as “uber-for-everything” logic with all its distortions, in this digital transformation that is now taking place on a large scale in the Greek market, it is a one-way street.
All organizations, from SMEs and start-ups to the state and corporate giants – especially those that scale rapidly abroad or are forced into major changes due to competition – should more or less adopt the model of cooperation with flexible specialists partners, who will develop technological applications quickly, cheaply and flexibly (testing new business models), making their investment more efficient and the integration of the transformation into their everyday life, smoother.
FUND4ALL serves such a model, offering technology development services only in the field of fintech, flexible, fast and above all efficient. Visit www.fund4all.gr or our linkedin page