What drives telecommunication companies to undertake digital transformations?
Telecommunication companies are facing increasing levels of competition from new market entrants; this not only threatens their existing business model but makes it more difficult to expand into the lucrative markets of next-generation services. To truly get ahead in the face of these new challenges, telcos are looking to digital transformation as a long-term strategy which helps them stay competitive in existing markets while constantly differentiating themselves by providing innovative new services.
How do telecommunication companies participate in the open digital economy?
Telecommunication companies are increasingly exploring business models such as B2B2C which involve setting up channels for digital co-operation. By harnessing the latest technologies and allowing real-time digital interactions across a broad ecosystem of companies, telcos can secure their place in the value chain for next-generation services.
How can telecommunication companies start their digital transformation processes?
Telecommunication companies can start this process by focusing on customer-oriented culture and operational efficiency while venturing into new digital services. These initiatives should be led by senior management and spread throughout the company to foster a culture of ongoing digital transformation.