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Saturday, January 28, 2023

Capture New Value from Your Existing Tech Infrastructure | HBR

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A company that provides access to its network for small enterprises produces large income.

Axiata Group, a Malaysian telecommunications corporation, generates $6 billion in yearly sales. It exploited its network assets to assist small Sri Lanka and Bangladesh companies in launching over 90,000 services that produced more than $100 million in revenue in 2021. Telecommunications companies used their services to monitor and charge mobile phone usage, sell SIM cards, and implement targeted product advertising. Axiata made its network resources accessible through application programming interfaces (APIs) that could be accessed and adjusted via an app or web interface. Approximately 1,800 developers joined the Ideamart community and offered new services within 18 months.

In only three years, their contribution to Axiata’s income has risen from 0.5% to 16.5%.in addition, Axiata has organized events geared for empowering female business owners. Axiata developed web-based tools and hundreds of standard feature templates to make its network capabilities accessible to all small enterprises. No coding is necessary: A small firm may create a service online by ticking boxes, and Axiata will immediately develop the software. The corporation had a few days to choose how to transmit the income it gathered on behalf of small companies.

Source: https://hbr.org/2022/05/capture-new-value-from-your-existing-tech-infrastructure

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