Efficient Digital Products (EDP)
A Holistic Approach to Building Successful Tech Products
The technology industry has undergone a perpetual transformation in the past ten years. Massive digital transformation initiatives, OpenAPI protocols, DevOps revolution, and the emergence of cloud-native applications have given birth to unprecedented innovative landscape. Out of the forge of implementation, proven concepts, principles, processes, and architectural design have emerged, changing the manner of technology development for enterprises, SMEs, and startups alike.
In the post-COVID era and after the fall of technology growth funding, we are entering an age of Efficient Digital Products. Regardless of the space, consumer, B2B, SaaS, PaaS, Web3, or Industry 4, investors scrutinize the financial viability of the product in the very early stage. The days are gone when operational flexibility and displaying a growth trajectory were enough to justify eight-digit funding. ROI and IRR are back on the table, and only companies capable of delivering a viable business proposition, including a path of profitability, growth, innovation, and a digital culture, will survive the next phase of the digital revolution.
In this highly competitive landscape, a combined approach toward Efficient Digital Products is key. As a CTPO veteran and a Crosslake practitioner, I have seen tens of companies falling in the chaos of buzzwords such as DevOps culture, Micro Services, DLT, MlOps, Multi-Cloud, and all flavors of product discovery and agile methodology. Interestingly enough, for most, you find many correct implementations of some of the best practices in the company in isolation without a holistic design considering the company’s specific challenges, limitations, and goals. An Efficient Digital Product requires a holistic design orchestrating a combined set of best practices influenced by the product requirement, legal and compliance restrictions, companies’ financial resilience, and the strategic direction iteratively.
In this series, we will discuss combinations of best practices, technology, and governance design patterns with a focus on Digital Product Efficiency. Stay tuned for our upcoming articles on building Efficient Digital Products for the modern age.
