Looking back, when Milestone talked about open, we were referring to our open technology platform, and how partners can integrate with Milestone’s technology. In 2019, we added our open business platform. Here open refers to commerce and how partners can grow their business faster with Milestone.
Looking ahead we are living in a raging tornado of change fueled by digitization. The way we work will never be the same, the skills we need will be dramatically different. Analysts predict unprecedented wealth creation over the next ten years.
How do you grow your business in this future?
It’s a different ball game and there is a real danger that you could get locked out of your own business. For example, it’s tempting to fall in love with closed solutions, you can own your customers, lock them in. But think about it from the manufacturer’s point of view, why dothey like closed solutions?
Because they know they can lock you out. You win the customer, solve all the problems and deploy the solution. Maybe you get to maintainthe customer for a year or so, then, you lose your dealership agreement. What choices are left for you? None.
On top of that, closed solutions limit the scope of innovation in your solution to a single manufacturer. As your single source for innovation, you have to hope they will deliver what your business needs for the future, and as the business saying goes “hope is not a strategy.” In a world that is changing rapidly you need to plan on innovation coming from many sources to secure your company’s future.
Closed solutions might look like the way to go, but the risk of being locked out, and the limited scope of innovation are serious consequences. That’s why you need the power of open. With an open approach to your business, you can make the right choices to grow your business. To protect your business, you cannot be overly dependent on one manufacturer. If you are, you risk limiting your negotiating and innovation power and being left with no choices available to you.
Instead of taking everything from one manufacturer, open technology gives you the flexibility to customize two or three components into an open, best-of-breed solution. Through the power of open, you canplan for the unexpected and create choices for yourself when unforeseen change confronts your business.