The ‘we economy’ and why government must learn to share

The “we economy” offers new opportunities in the digital marketplace. Government agencies could benefit by exploiting synergies with the private sector. But can it handle the data load?

For several years analysts, consultants and commentators have warned of the dangers of digital disruption, urging organisations of all kinds — private and public — to embrace this disruption and embark on a process of digital transformation. Now, to stay ahead of the curve, an organisation needs to look beyond stand-alone digital transformation and explore digital synergies with other organisations.

This shift of focus, says Accenture in its Technology Vision report, represents “an unprecedented leap forward by organisations on the journey to becoming digital businesses”. It culminates in an entirely different way of doing business: “A hyperconnected world where companies, consumers and even everyday objects have instant capabilities to act and interact with each other digitally across the globe.”

Accenture calls this the “we economy” and says it offers savvy companies new strategies to compete and win in a digital world. The we economy provides rich opportunities for businesses to collaborate with other players in the digital ecosystem, to place “big bets” on new products, services and experiences — bets that would not have been possible just one or two years ago, but that today can shape new markets at scale. As the report notes:

“Pioneering companies have already realised the implications of tapping into a digital ecosystem. They see that in such digitally driven, hyper-connected times, they have the capacity for action beyond transforming themselves into digital businesses.”

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