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New Alliances for Business Success

Friday, August 16, 2019

5 minute read

New Alliances for Business Success

The days of “one-size fits all” business solutions are gone. Instead, compromise and cooperation between solutions will be the new norm to better accommodate the unique needs of organizations.  

 

Compromise and Collaboration – The new Growth solution

In this age of polarization, disruption, and tribalism, the conversation around cooperation has been lost. For those interested in Brexit, this article by Matthew Parris charts an interesting path to a post Brexit UK. And guess what? It’s all about cooperation, pacts, and alliances. In this example of game theory, it seems that the future of the UK lies in building and forging new alliances never considered before to create an optimal solution. It seems the country is finding a resolution, but it is being created through cooperation rather than confrontation. 

In much the same way, I believe business solutions and software as a service (SaaS) are starting to head in a similar direction. A singular solution to solve all your business problems is longer possible, and buyers are starting to piece this together. There is no sole solution that now fits all requirements without some compromise.  

Strategic partnering for better problem solving

I attended a recent Microsoft partner event where partners were openly encouraged to forge business relationships together. In fact, the first order of the day was to pitch our business to the other partners. Microsoft are eating their own dog food by partnering with perceived competitors. This message was prevalent throughout the conference and, in many instances, perceived competitors were actually solving different problems for different types of use cases. 

Mark Darby writes about this in his book the Alliance Brand. It’s an excellent read and charts how to leverage the power of a brand through strategic partnering. Essentially it gives great practical advice on how to make 2+2=5.  

Basware’s approach

It seems in these instances, politics and commerce are finally taking a more pragmatic approach to alignment with their true stakeholders – clients, employees, vendors, suppliers, local communities, shareholders, and commercial partners.   

These data points have not gone unnoticed. As we chart the future course for alliances, we have formed our strategy with many of these influences in mind:  

  • Focus - Basware is a world leader of networked AP automation

  • Joint success - We must embed a culture where we openly celebrate when all parties succeed.  

  • Narrow and deep - Create long lasting committed relationships. 

  • Coexist - Accept competition and work with perceived competitors to jointly solve complex problems.

Ready to learn more?

To learn more about Basware’s leading business solutions, download The 2019 Gartner Magic Quadrant for Procure-to-Pay Suites report. If you have any questions, feel free to contact us.