Over 80% of top-performing enterprises in the world are interested in collaborating with their competitors in the digital ecosystem instead of regarding them as enemies, according to a newly-released study conducted by multinational IT firm Tata Consultancy Services (TCS).
In the report, TCS stated that effective collaboration shows high dividends for both companies, citing Netflix’s unlikely partnership with Amazon Web Services. Meanwhile, businesses that are still highly competitive are found to be not performing well in their industries.
The study has also disclosed that there is a significant increase in the number of corporations that are providing digital products and services, despite it not being their main offering.
Of the surveyed, 39% of companies said that they had added digital products and services to their offering, while 41% of the participants believe that their revenue will come from new offerings by 2025.
TCS interviewed 1,200 CEOs or senior executives of large global companies in 15 key industries in 15 key industries across 14 countries around the world.