The telco’s challenge
Four future needs in the telco sector
- Digital transformation. Three quarters (73%) of Telcos believe integrating new platforms and technologies is a major challenge. The result is short- term financial stresses and disrupted customer experiences. Integration is the number one barrier to digital transformation.
- Customer retention. Churn is a perpetual challenge for Telco providers – one exacerbated by the pandemic, during which customers sought fast and reliable communications. Telco revenues fell by nearly 3% in 2020, amounting to a $43 billion hit compared to 2019.
- Security and compliance. Over half (54%) of senior Telco executives believe cyber vulnerabilities and demands of complying with modern security standards make digitization more difficult. To eliminate anxiety and commit to a digitalization journey, Telcos must first transform their security operations.
- Scale. Mobile and broadband revenue growth – low single digits, at best – is heavily constrained by competition and the economic environment. Telcos should seek out enterprise solutions to drive new revenue opportunities.
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