Bridging the digital gap: how are CSPs transforming their services?

Everyone is talking about digital transformation today. However, what stands behind that statement for the telecom market? 

To answer this question, we need to understand how the industry is evolving and what are the key challenges that its players are facing today. According to Ovum’s latest ICT Enterprise Insights program, the telecoms sector is most advanced in the drive for digital transformation — with its digital maturity progression index score at 43,9%, following by banking at 42%.

But how should service providers adjust their offerings to meet modern business requirements in a new digital economy era?

Just a few years ago, communication service providers (CSPs) could sell the same solution to everybody. Today, the rules of the game have changed. Digital transformation is a challenge for some companies but on the other hand, it offers telecom players an opportunity to create unique products for the market and as a result, find new revenue streams. 

New revenue streams start with understanding client needs. It is extremely important to know the exact needs of your customer to offer a personalised experience. If you do not understand the needs, motivation and potential issues a customer has he is likely to stop at another shop. Being relevant and flexible to your customers is the key to building more long-term relationships with them, staying competitive in the market place and ultimately, winning this competition.

Watch the video interview with Dario Talmesio – Principal Analyst & Practice Leader – Europe, Ovum to learn more about the transformation of our market:

• Key points for BSS vendors’ differentiation.

• Importance of analytics for business growth plans.

• Future application areas in IoT.

• How operators can effectively monetise IoT.