As many as 90% of businesses1 are thought to be holding themselves back by relying on outdated tech stacks. US businesses2 lose up to $1.8 trillion yearly in wasted productivity due to obsolete technology. This is just one of the reasons why transformation is on people’s minds: to remove the waste in the end-to-end journey.
Telcos need to accelerate their digital transformation plans in order to capitalize on this opportunity, and pull ahead of competitors.
In a recent webinar “Keeping it simple: How streamlining your architecture is vital to thrive in a recessionary environment”, CloudSense’s Vish Kumar and Fawzi Fares came together to discuss the principles and secrets of successfully streamlining a commercial order management system.
The goals of digital transformation
One pitfall that CSPs must appreciate, is that engaging in transformation that simply tweaks their current architecture, without outlining specific business goals, shackles them to their problems.
When thinking about transformations and current architectural impediments, CSPs should boil down their transformation goals to the following three things to put themselves in a position that cultivates success:
1. Innovate ahead of the competition
In an environment where competition is continually intensifying, telcos need to be able to create commercial offerings that form bundles of various products. Product managers need to be able to sell products that differentiate them from the competition. This involves not only bringing innovative solutions to the marketplace, but doing so at speed.
2. Commercially focused offerings
Telcos need to be able to sell any valid product combination as quickly as possible, without wasting time on explaining the technicalities of the product and service they are selling. In order to do so, they need to ensure their offerings, and the user journey that drives the user through to the order capture process, are commercially focused.
3. Accurate delivery
In order to fully capitalize on the innovative, commercially focused products telcos bring to the market, they need to be able to deliver what has been sold as quickly as possible. That involves ensuring that the billing system receives the right information. If telcos can’t deliver their products, then deals will dry out quickly.