Platform Economy

Innohill platform reshapes global trade and not only disrupts traditional business models, but it is killing some long-lasting conventional and conservative concepts by making possible direct transactions between different parties. And it's not only in traditional trade, it is also in new IT business between software solution provider and it's end user. Innohill is pioneering new, alternative ways for future business for it's stakeholders.

Platform economy, what is it?

MIT Professor Michael Cusumano explains it in his blog:

“A platform or complement strategy differs from a product strategy in that it requires an external ecosystem to generate complementary product or service innovations and build positive feedback between the complements and the platform.

“The effect is much greater potential for innovation and growth than a single product-oriented firm can generate alone.”

You can see it as a connector between interdependent people and the product or service they need. You may say “to be in that business you have to know someone.” A platform is the someone.

Don't underestimate it, today platform economy is one main flow. According to McKinsey report 2018 more than 30% of global economic activity — some $60 trillion — could be mediated by digital platforms in six years’ time.

Seven of the 10 most valuable companies globally are now in a platform business model. There is other designation related to platform workers, who use the platform, GIG workers. The GIG economy growth was 43% 2020

In a really connected world what a platform business does is to optimize supply and demand between the producers of certain goods and services and consumers. It orchestrates those interactions and makes them more efficient — just like farmers’ markets or stock exchanges do.

Innohill platform has these four common traits:

- Connects workers or sellers directly to customers.
- Allows people to work when they want and where they want.
- Sellers are paid for a single task or good at a time.
- Payment passes through the platform.

Innohill platform is orchestrated by it's subsidiary, Barcato Ltd, which is global marketing and sales company. Barcato Ltd has IT Service Centre in North Scandinavia and offices in Baltics, UK and presence in all EU member countries together with it's marketing partner.