The telecom industry has been at the epicenter of the 21st-century technological revolution, providing the backbone for a myriad of digital applications and services. Yet, it stands on the cusp of a revolution. It’s time for telecom operators to critically reinvent their strategies and operations, or risk being left behind in an increasingly competitive and evolving digital landscape.
A New Era of Challenges
The telecom industry is grappling with a paradox of growing data traffic. The industry’s traditional business model, based on voice and data revenues, is under threat from over-the-top (OTT) players like WhatsApp, Skype, and Netflix, who deliver content directly to consumers via the Internet. Furthermore, telecom companies are facing increased pressure to invest in next-generation technologies like 5G, edge computing, and artificial intelligence, making it imperative for them to rethink their strategies and operations.
The Blueprint for Reinvention
Avisys proposes a four-pronged blueprint for telecom operators aiming to navigate this shift.
First, telcos, operators and CSPs need to transform their core connectivity business by modernizing their BSS/OSS solutions, infrastructure and operations, improving customer experience (CRM), and leveraging advanced analytics and automation. This could mean optimizing network inventory management, network signaling and security, enterprise communication and bulk provisioning, orchestration and fulfillment, 5G and digital services modernization, and billing and revenue management.
Second, it’s crucial to build new growth platforms beyond connectivity. This could involve investing in new digital services modernization, cybersecurity, or edge computing offerings. With their vast customer base and rich data assets, telecom operators ought to uniquely position themselves into these new areas.
Third, telecoms need to reshape their innovation systems to be more agile and responsive to market trends. This means shifting from a traditional, linear approach to a more dynamic, and cost-iterative model. It also involves creating an innovation-friendly culture that encourages experimentation and collaboration.
Lastly, operators must reinvent their talent strategy to attract, retain, and develop the right skills for the digital age. This could involve reskilling current employees, hiring new digital talent, or partnering with external organizations to fill capability gaps.
Revitalizing the Core
“Telcos ought to shift their focus from being connectivity enabler to being enablers of digital services to become future-proof. Telecom operators need to adopt a more customer-centric approach, enhancing the overall customer experience.”Mr. Harshvardhan Kumar (Founder & CEO, Avisys Services).
This involves implementing advanced analytics to understand customer behavior and preferences, thereby enabling personalized offerings. Moreover, network optimization, powered by AI and machine learning, can balance costs and performance, ultimately leading to improved customer satisfaction.
Beyond Connectivity: The New Frontier
Diversification is key for telcos to unlock new revenue streams. This involves leveraging their rich data and vast customer base to offer digital services. For instance, telecoms can harness their network capabilities to offer Internet of Things (IoT) solutions, providing a seamless and secure experience for consumers and businesses alike.
Innovation in the telecom sector needs to shift from a linear approach to a more dynamic model that promotes quick, iterative responses to rapidly changing market trends and consumer demographics. Creating an innovation-friendly culture is crucial, where experimentation is encouraged and failure is seen as an opportunity to learn and improve. This could involve setting up Testing CoE or TCoE labs and/or partnering with transformation consulting and system integration partner.
Talent Strategy for the Digital Age
The digital transformation journey will require a workforce equipped with new skills. Telecom operators need to rethink their talent strategy, which could involve reskilling current employees, hiring new digital talent, or partnering with a trusted IT services provider for telecom having proven and niche domain expertise in Telecom BSS/OSS and digital transformation that offers architecture consulting, design, development (Agile Pods), E2E testing and application and Infra management services for telecom operators.
Read also: The Ultimate Checklist for Choosing a Digital Transformation Partner for Your Telecom Business
Strategic Alignment and Building Capabilities
Execution is as critical as strategy. Clear strategic goals need to be communicated effectively across the organization, ensuring alignment and coherence in action. Equally important is building the capabilities to execute the strategy. This could involve forming strategic partnerships, investing in technology infrastructure, or setting up dedicated project teams or Agile PODs to drive specific initiatives.
The Importance of Execution
While having a blueprint is critical, successful reinvention will hinge on effective execution. Telecom operators need to move from strategy to action, focusing on three key areas: strategy, design and development.
The telecom industry is at a crossway. To thrive in this new era, operators need to reinvent themselves, transforming their core operations while simultaneously building new growth platforms. This reinvention requires a clear strategy, a culture of innovation, and the right digital transformation consulting partner.
The telecom industry’s critical reinvention is not a mere trend; it is a paradigm shift. At Avisys Services, we’re helping telcos embark on seamless digital transformation journey through our all-inclusive telecom BSS/OSS solutions that enable telcos, MNOs, MVNOs and CSPs to optimize and modernize their operations enabling them to provide sustained customer experience, shorter time to market and create improved market and business value.
As we stride into the future, our objective is clear: to revolutionize the telecom landscape through innovation, agility, and customer-centricity. This is the era of reinvention, and at Avisys Services, we’re ready to lead the charge.