Digital Transformation is Moving Telecom Market with Innovations at Every Step
Telecom industry is highly responsible for connecting the digital world. The Industry in recent times has observed an unprecedented push into rapid digital transformation allowing them to reach more. It has been at the forefront and reported that it is the second largest industry to be affected by Digital transformation.
Digital technologies are changing the business strategy and allowing telecoms to achieve value-producing opportunities. It is helping companies acquire new horizons.
The paradigm shift is primarily focussed to achieve scalability, innovation and evaluation at regular intervals. Below are some of the remarkable breakthroughs in telecom industry through Digital Transformation.
a) Virtualization of Communications and Cloud Architecture
A large portion of global internet users is dependent on mobiles to complete their everyday operations. This demands a flexible and scalable infrastructure that meets the demands of the users. It made it inevitable for every telecom to employ different network components to manage different tasks.
With cloud computing, all forms of communications are rapidly virtualized, enhance autonomy of the infrastructure, allowing agility and yet at the lower costs. As there is an increased rush towards next-gen network features, network functions are significantly virtualized using SDN (Software-Defined Networking). Moreover, entering into 5G capabilities, the networking works efficiently with increased virtualization of network functions.
b) Robust Security Management
Security is the centre of the digital transformation. The major concern of the telecom leaders to assure security to the customers. But with today’s security challenges, telecommunications industry struggle to comply with the existing stringent legal and regulatory norms.
Digital transformation allows a rigorous and holistic approach to telecom security and builds a robust firewall against security breaches. The unique challenges of today’s times are mended with a distinct digital strategy covering security to data, services as well as physical environments.
c) An array of Digital Services
Traditionally, telecom services are limited to set. With digital transformation, telecom market is much wider than one can anticipate. They can expand their services and offer a suite of digital services. These digital services can address the needs of multiple verticals and enhance revenue growth, Telecoms can step ahead comprehend the services requirements of all industries and study the niches to align with their competencies. With these telecom services, businesses across sectors can reduce the operational complexity and manage businesses efficiently.
d) Widened Business Models
Since the very inception, telecom enjoys a large number of opportunities. With digital transformation, the opportunities are multiplied further and demand agility. Incorporating new business models, telco attains flexibility and manage services more efficiently than ever.
Significantly emphasizing on the IT architecture, several models are developed. Apart from this, building an ecosystem with other partners enables the telcos with a firm business base.
e) 360-Degree view of Customer Experience
Customers expectations grew with increasing technology advancements. Their expectations are dependent on what they observe on the internet and the media players which provide a seamless experience on the mobile phones. Telcos have no choice, but to integrate them, to customer satisfaction and decrease churn of customers.
Digital transformation allows the telcos to understand their customer behaviour and align their business strategy to enhance customer experiences. Today, customers are constantly for opportunities which are customized to their specific needs. With the integration of cognitive technologies like Artificial Intelligence and Machine Learning, it allows telcos to personalize services based on individual needs.
Often with such complex processes, digital transformation is laid back. But, it offers telecom companies an opportunity to rebuild their market positions, reimagine their business. This makes telecom landscape a competitive one. This makes it essential for every telecom to derive new paths to increase their profitability.