Digital Marketplace Opportunities
Capture flows of transactions and data, and leverage powerful network effects.
Digital marketplaces do more than connect customers with suppliers – they reinvent customer experiences in a particular industry. Digital marketplace creators are disrupting offline or eCommerce business models with disintermediation, superior service, convenience, or price – and locking in significant first-mover advantage.
Moonshot is Pactera’s innovation outpost and center of excellence for the incubation of disruptive, industry-transforming digital marketplaces.View Moonshot Thought Leadership
Building a Digital Marketplace
Pactera takes a lean innovation approach, with repeated cycles of feedback and testing.
Pactera first identifies groups whose interests will be critical to the success of the envisioned marketplace. These will typically include stakeholders from within the business, as well as prospective suppliers and customers. We conduct stakeholder interviews and workshops and analyze findings to help prioritize and roadmap the creation of the digital marketplace.
Few decisions are more critical than the choice of a technology platform. Pactera makes recommendations on technology after analyzing the present state of the market, likely future innovations, and the future technology needs of all users of the platform. We also provide ongoing platform governance, status and financial reporting, change and risk management, and user engagement support and planning.
Design and delivery takes place over a series of sprints, in which we design visuals and interactions for both suppliers and customers. These are followed by build-and-test technology sprints in which the designs are built into digital products. After testing and seeking feedback from users on the results of each sprint, we document findings – ready for the next iteration of design, delivery, and testing.
During strategy alignment, user feedback is integrated into the plan, and KPIs and success metrics are confirmed. Working with the both suppliers and customers, Pactera helps to refine the release plan for the online marketplace based on agreed priorities. Strategy alignment takes place after each sprint, ensuring the lessons learned are properly incorporated into the next sprint, and that teams are working towards the same objectives.
Why Digital Marketplaces Matter
eCommerce Is Table Stakes
Today eCommerce is a commodity, not a differentiator. Best practices and conventions are well known and widely implemented. Over time, companies tied to eCommerce will face the usual risks of commodification – brand differentiation struggles and shrinking margins
As the digital marketplace model matures, there are increasing benefits to specialization. Businesses can use unique domain expertise to build digital platforms that connect customers and suppliers, creating efficient ecosystems that delight users, and benefit from strong network effects.
Key Step into Digital
A digital marketplace is more than a website: it's a product. Building a marketplace requires adopting an ever-evolving product mindset as part of a broader ,digital transformation strategy. The benefits of digital enablement flow throughout an organization, allowing companies to innovate faster, use data more effectively, and respond to market needs with greater flexibility.