How does an ecosystem approach work?
To understand a client ecosystem, we need to know their business inside out.
First, we research the client’s business model and operations using publicly available information like their website and news reports. Based on this research, we create an ecosystem flow that outlines the client’s customers, their locations, and how they interact.
We can then expand this to the client’s suppliers. For example, if the client is a manufacturing company, we identify where their factories are and who their raw material suppliers are. If it’s a digital tech company, we map out the interactions between the firm and its various contractors or service suppliers.
For existing clients, our internal tools are helpful in this process. Our Client Relationship Insights solution provides a snapshot of all the client’s operations and transactions with us.
We can access payment transactions and accounts within our system. This allows us to see details like who they are making payments to, such as a supplier in China, which we include in the ecosystem flow.
When we meet with the client, we share the presentation and listen to understand their growth ambitions, and in particular which markets they intend to target. This way, we can fill in the gaps between our analysis and the client’s actual situation.
The result is a holistic understanding of their business.
Source: citigroup.com
