Today's market conditions are creating challenges for telecommunication industry players. Know more:
TODAY’S market conditions are creating challenges for telecommunication industry players. Even though consumer revenue has been historically high, margins are being squeezed because of the massive infrastructure investment in 5G by telecommunication companies to meet the spike in broadband demand during the Covid pandemic and the anticipated explosion in demand driven by various 5G-use cases. Competition has been heating up from both traditional and non-traditional players.
To address these significant concerns, global telco players have been taking big steps to redefine their business and operating models. KPMG’s recent report identifies some of the key capabilities that KPMG professionals believe are required to succeed in the telco business models currently emerging around the world.
The telecommunications industry in the Philippines is also facing a rapidly changing landscape wherein industry leaders acknowledge the need to anticipate and adapt to market conditions to survive. KPMG in the Philippines Technology Consulting Head Jallain Marcel S. Manrique said that “to ensure that they thrive in the future, telco industry players must adopt key strategies [that] include taking a customer-centric approach to continually understand and act upon their demands and values. Additionally, telcos should explore and embrace emerging technologies like cloud computing, machine learning and data science to improve consumer experiences and operational efficiency.
Telcos have been trying to break into higher value-added services for years, including through massive investments in areas such as professional services, media/content and digital advertising. But the track record for such investments has been decidedly mixed. Now, other options are emerging.Expectations for both consumer and commercial customers have been intensifying. For consumers, that means wanting better and more flexible service, greater transparency in billing and enhanced ease of use.
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