Far from being a soft issue, trust underpins the management of your digital business and digital ecosystems. Trust is one of the most vital elements of any business relationship. But the shift away from linear value chains focused on internal relationships toward more open networks of relationships in the context of digital ecosystems has made trust a critical driver of new revenue opportunities and more efficient operations. As the foundation of your B2B digital ecosystem, trust has a significant impact on your bottom line as:
Multistakeholder relationships are gradually replacing interpersonal relationships. Enterprise customers expect their presales and aftersales engagements with vendors to be coherent and consistent. CIOs must support trust-building technology across the value chain.
Digital transformation that doesn’t put trust at the center will fail. Digital alters business dynamics. Trust is the oxygen of business activity. Without trust, all enterprise stakeholder relationships are suboptimal.
Trust scores will emerge to certify the trustworthiness of business and workers. To overcome the challenges of false identities and data tampering, data custodians will emerge to authenticate identities and ensure data quality.