Research by McKinsey & Company indicates that the time for Web 2.0 technologies to pay off on a corporate level just might be around the corner. New types of companies are now making waves—companies that utilize the power of Web 2.0 technologies to form a network that connects all their employees, whilst creating a new interactive experience for business partners and customers.
McKinsey calls this new company a networked enterprise; an entity, which according to the firm’s analysis and surveys, enjoys a significant improvement in performance thanks to its move to Web 2.0. In fact, McKinsey’s data shows that networked enterprises not only have a higher chance of becoming market leaders and gaining market share, they also gain higher margins compared to other companies that make limited use of the Web.
Ever since Web companies such as YouTube and Facebook burst into the scene with their clever use of social technologies, McKinsey has kept tabs on how enterprises have taken these business models to supplement their adoption of I.T. tools and strategies. Just like the previous wave of I.T. adoptions, the Web 2.0 trend features the same pattern of early adopters utilizing the new technology, with other entities then following suit as they recognize its value.
Web 2.0 technologies might be dismissed by some, but the evidence is clear—social technologies are changing and improving the way companies do business and Enform has been at the forefront of assisting businesses do so.