Value creation together
But we also acknowledge this concept in the context of the business-to-business (B2B) segment presents it own unique challenges. Consumers do not compete with one another, so it is easier to interact with companies. For co-creation to work in the B2B world, however, we must show how it creates value not just for Elematic, but also for our customer. Overcoming this obstacle requires honest discussion. We are helped somewhat by the fact that precast is a local business. When clients do not operate in the same markets, there is less concern that a direct competitor will take the benefit of open innovation efforts. As the LoopMaster project with KP1 shows, we are willing to invest in product development even when the outcome in the early stages is unclear. This willingness to share risk forms an important part of our long-term engagement with our customers. Elematic is a partner, not just a supplier.