The future of the telecommunications industry - Asset Display Page
September 18, 2018
The future of the telecommunications industry
The number of IoT connections, now 25 billion, will triple worldwide by 2025. This will generate a transmission of information that will bring digital coverage close to a 100% representation of the physical world.
Operators will have a key role in the connection, transmitting and hosting of astronomical amounts of data. But they can also be key to the development and availability of solutions plus content with added value (Big Data, Cloud, IA, APIs, VR, etc.). This is true both for consumers and players from other industries like: Healthcare, Manufacturing, Financial Services and Government.
Digital Transformation: Evolving from Operators to Digital Platform Providers
Transforming the customer experience requires analysis on a wide variety of customer touch points. To complete this transformation, telecommunications companies will have to evolve:
From Mobile Providers to Digital Platform Providers
Digital platforms have transformed the global telecommunications industry. Telecom companies are no longer simply service providers. In order to survive the digital avalanche, they must transform themselves into digital platform providers.
From Connectivity to Digital Users
With the proliferation of the digital platform ecosystem, connectivity is no longer an end in itself in the telecommunications and media industries.
From 3G/4G to 4G/5G
With more and more connected devices introduced every year, a new generation of connectivity will be required to make sure that these devices have powerful connections to transmit data from one ‘thing’ to another.
From IoT Customer to IoT B2B
The growth in economic value of IoT connections in the next ten years will be in B2B, not B2C. This is based on creating efficiencies in business operations, like using IoT solutions to optimize the supply chain.
From Data Carriers to Content Generators
The merger between AT&T and Time Warner is a perfect illustration of how telecom and media are becoming one industry in the digital space.
From Reactive to Predictive
Receiving and analyzing the huge amount of data coming from connected devices allows companies to predict consumer behavior rather than react to it.
How Digital Transformation Adds Strategic Value in Telecom
To drive innovation, a telecom company needs to invest in an integration fabric that allows it to deliver innovative services across a vast ecosystem of legacy and new capabilities. Here are a few of the ways digital transformation can add strategic value:
Process Automation, Analytics and RPA are digital solutions that can increase operational efficiency.
- Sales Performance Management – CallidusCloud
- IT Process Redesign (DevOps, ITIL, Agile)
The degree to which a telecom business can reshape its culture to one that is focused on delivering highly personalized services will dictate its success. Best-practices and MVP culture transformation models help speed up this process.
- Talent Management
- MVP Concept
- Agile Development
New Revenue Generation
Creating new sources of revenue is an equally important focus area. Telecom companies must uncover ways to deliver new value to both the consumer and the enterprise market because margins on traditional services continue to suffer market pressures.
- Deliver powerful Cloud platforms to enable customer & partner interactions
- Value-added Vertical Industry Solutions
Digital Transformation of Customer Engagement & Experience
The future of telecom is in the hands of consumers, so optimizing the customer experience is one of the keys to strategic value.
- Redesign and Innovate M2S, O2C, CRM
- Analytics Dashboards – Sales & Customers KPIs
Benefits of Taking a Customer-Centric Viewpoint
There are many strategic benefits to taking a customer-centric viewpoint in the future of telecommunications:
- Better digital experience that leads to better customer satisfaction.
- Churn reduction.
- Larger share of client wallet: upselling and cross-selling.
- Increase in revenue per user (ARPU).
- Brand Loyalty and growth of Net Promoter Score (NPS).
- A company more agile and dynamic to face new digital challenges.
- Reduction in New Customer Acquisition Cost (CAC).
- New Customer Acquisition Cost
- Self Provisioning
- ARPU / AMPU
- NPS Churn
Let NEORIS Help You Transform Your Telecom Company
NEORIS has the deep knowledge and experience to co-create a new digital roadmap to the future of telecommunications. Using digital technology and our industry knowledge, we help our telecom customers:
- Provide highly personalized customer experiences through innovating and digitizing Marketing To Sale and Order To Cash Processes, automating manual tasks, transforming the CRM process and using big data to improve customer engagement and personalized offers.
- Transform into a digital enabler platform to be able to interact intelligently with businesses, consumers, partners and things ecosystems. This is achieved by redesigning the information architecture, creating an API environment, developing IoT solutions and co-creating value-added solutions.
- Transform company culture to become a high speed go to market company through IT process redesign (Agile, devops, automation), Sales Performance Management, Data governance and MDM.