The Business of Tomorrows
Fast evolving technologies and user needs is encouraging operators to identify and...
Consider these global examples. According to Statista, global mobile payment revenue in 2015 was pegged at $450 billion and is expected to surpass $1 trillion in 2019. Likewise, the the mobile content market worldwide is expected to reach $37.4 billion in 2019. Similarly, while the death knell of mobile messaging has been sounded time and time again, experts have pegged revenues from mobile messaging to reach $1.279 trillion until 2018. Also customer value management is expected to be valued to the tune of $10.77 billion by 2020.
In India, we are seeing that explosion happening. Massively expanding e-commerce in retail, mobile governance spreading to villages, mobile banking and wallets becoming commonplace, IRCTCs railway tickets through the phone, Uber and Ola taxis and autos.....are only some of the examples. The smart phone and the service providers involvement in a common man’s daily life is increasing day by day. Telecom operators have stopped calling themselves telecom service providers, and prefer to be know as digital service providers for the digital natives of this world.
For a rapidly growing telecom industry like in India, and a technologically galloping telecom sector all over the world, tomorrow is the only reality. The fast paced innovation that is driving telecom business is unprecedented. As voice revenue slows down, data and services jump, what exactly does this mean for operators and their various lines of businesses?
The question is if and how are operators gearing up to handle these challenges and tap ‘tomorrows’ opportunities, not just to boost revenue and bottom-lines, but to ensure customer delight.
Tomorrows Drivers
Voice&Data, alongwith Mahindra Comviva, organised a round-table with some of the tech leaders in the communications space to understand what’s happening in India.
Operators of tomorrow are going to leverage data channels and their assets to create rich and contextual digital engagements with customers, employees, partners and connected devices. Monetizing data, as it gets increasingly commoditized, is becoming a big challenge. As consumers hunger for data surges, and enterprises digital strategies get center-stage, this is the best time for the operators gear up for tomorrow. Platforms that offer shorter time to market, higher ARPU and profitability, smarter network optimization, more flexibility and empower customers will help keep competition at bay.
There are quite a few services and solutions that have been globally identified and accepted as revenue maximizers and customer experience enhancers. For banking and telecom sector these are mostly a broad and integrated range of productized solutions focused on critical business objectives. For instance, in the telecom space these include prepaid recharge solutions for mobile, DTH, and broadband operators. For internet and broadband players, solutions for data traffic management, customer experience management, monetization management, security, and regulation compliance are critical. Messaging solutions, not only for text but for instant updates, notifications, social chat, file transfer, social networking are flying. Beyond that, enterprise messaging, and multi-channel messaging are picking up. Similarly, solutions that enhance customer experience through analytics driven, consumer life-cycle manangement tools. Further, these solutions include digital lifestyle solutions that meet the diverse service requirements of subscribers from infotainment to call management while enhancing operator revenues.