As the world’s economy grows more dependent on the timely delivery of digital information, the telecommunications industry is challenged with providing new and innovative services while ensuring core capabilities are delivered in a stable and efficient manner. Any degradation in performance of mobile communications, or failure to deliver content, affects the economic power of companies that provide mobile services and the consumers who use them.
Disruptive Development in the telecommunication industry
As the Global economy turns digital, Communications Service Providers (CSPs) are faced with challenges and opportunities. On one hand, the industry is being disrupted by the increasing role of third party digital communication services, also known as Over the Top (OTT) services providers, which are bypassing the traditional service providers and have gained great popularity with subscribers. On the other, CSPs have the opportunity to play an important role in the advancement of digital transformation of various industries. Therefore, in this increasingly digital environment, it is vital for CSPs to reinvent their business model and provide new services for the digital age; such as Mobile Money Transactions (MMT), Internet of Things (IoT) and Big Data.
The Digital Telco Transformation features:
- seamless sales, upselling, customer retention and self-care
- responsive, innovative and personalized services
- integrated, proactive customer management
- near real-time service delivery and activation processes
- effective and integrated management between internal IT, network data assets and external channels (web, social media).
Rethinking the business model
Amongst the available strategies, choosing the most-effective strategy or combination of strategies is key to sustaining a competitive market position and generating new revenue streams. In their quest for new services and revenue streams, providers may choose to:
Look beyond the core business of providing voice and data services and explore different approaches to find niches in the digital economy – optimise and leverage a unique position within the digital service value chain
· Holistically reassess their business models to ensure relevance and viability in the digital age and address digital opportunities for telecom players including Mobile Money Transactions (MMT), Internet of Things (IoT) and Big Data
The focus is to bring a fundamental transformation that touches all areas of the business. In order to stay relevant and visible in this digital age, it is vital for the industry to develop a compelling portfolio of digital services build around Mobile Money Transactions, OTT Services, IoT and Big Data.
Digital technologies therefore offer the chance for individualised, tailored, accelerated and more effective strategy for businesses. If you want to know about the power of digital transformation, Anglo African team can help you, do contact Naazreen on 2331636 or via e-mail at firstname.lastname@example.org.