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Success Factors for Digital Transformation in Communications

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Digital transformation is essential for the future survival of communication service providers. Today's consumer is rapidly evolving into the digital consumer of the future. The process of understanding customer requirements and subsequent delivery of compelling services and quality customer experience requires a digital infrastructure. This IDC research, sponsored by TCS Digital Software & Solutions Group, revealed five critical success factors for digital transformation in the communications industry.

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Success Factors for Digital Transformation in Communications

  1. 1. Success Factors for Digital Transformation in Communications TCS Digital Software & Solutions Group Sponsored By December 2015
  2. 2. Digital transformation is multi faceted and accelerated 2 Leadership Transformation Omni-Experience Transformation Information Transformation Operating Model Transformation WorkSource Transformation
  3. 3. And most CSPs are in early stages of digital transformation 3 Source: IDC, IDC MaturityScape: Information Digital Transformation, #255774
  4. 4. Though most CSPs are underway with DX, it can be a long process 18% 46% 36% Executing Implementing Planning/ Evaluating How far along is your company into the digital transformation process?  Digital transformation is being implemented or under evaluation by many CSPs  Only a small percentage of companies are well along in the process and are actually executing their business strategy largely on digital platforms  Most CSPs are still just one to two years into the digital transformation process 4
  5. 5. New IDC research revealed five critical success factors for DX in the communications industry 1. Establish a digital strategy and a five-year plan 2. Leverage analytics to better understand customers and reduce churn 3. Develop an Omni-channel platform that can evolve with the business strategy 4. Legacy migration should be an essential aspect of Digital Transformation 5. Evaluate end-to-end integrated digital IT options to help speed time to market. 5
  6. 6. Establish a digital strategy and a five-year plan 6 Increase agility Reduce time to market Improve margins Digital Transformation Key Benefits
  7. 7. Better understanding and serving customers is key priority of digital transformation 7 Improve CEM Improve customer interaction Proactive monetization Attract new customers 7 "The main driver of digital transformation is to improve our business by understanding customers' buying and usage patterns so we can retain customers and upsell existing customers and attract new ones.“ - Large US–based telco executive
  8. 8. Leverage analytics to better understand customers and reduce churn 8 Q. To what extent are the following top priorities for deploying business analytics? 0 2 4 6 8 External monetization Portfolio optimization or new offer affinities Realizing opex efficiencies Proactive CEM Better agility by reducing time to market Upsell/cross-sell Reduced customer churn (Number of responses) Top Priority for Leveraging Analytics Is Reducing Customer Churn to Promote Revenue Growth
  9. 9. Develop an Omni-channel platform that can evolve with the business 9 Tactical, functional and siloed capabilities Integrated online, mobile and retail store customer experience Level of investment in digital transformation for Omni- channel engagement Time Comprehensive proactive platform analyzing online activity, user preferences, tracks transactions
  10. 10. Implement a digital IT strategy that addresses legacy transformation  CSPs should set a goal of migrating the majority of customer interactions to digital channels by 2020.  IDC research revealed that CSP legacy systems are a key impediment to implementing Omni-channel integration  Silos, and other legacy systems are key factors for the elongated process of digital transformation across the industry. To realize the potential of analytics and digital, communications companies have to accelerate the transition from legacy systems to more agile, digital technologies.  The shift to digital will require the modernization and integration of disparate legacy and siloed software platforms • Process of legacy system transformation in order to access data across channels will be long and complex.  This parallel process can be costly, but CSPs should start by transitioning one customer-facing business process such as customer service or sales.  Evaluating packaged digital solutions with integrated analytics platforms can also help speed the transition to digital while helping reduce churn and expand sales. 10
  11. 11. Evaluate integrated digital IT options to help speed time to market 1111 Packaged software Professional services for planning or integration In-house developed systems End-to-end solution combining predictive analytics with CEM CSPs can leverage a are a hybrid approach, piecing together different solutions… But the goal should be an integrated solution with a logical roadmap… That will facilitate an optimal and timely transition with specific goals
  12. 12. Essential Guidance for Communications Companies  Begin by determining key priorities to improve differentiation and competitive positioning • Interacting with the customer in a digital environment can enable personalized next-best interactions to drive cross-sell and upsell and proactively reduce churn  Leverage customer insights through proactive CEM to keep customers happy and returning • Customer experience is directly related to customer loyalty and minimizes churn • Aim to deliver a seamless Omni-channel experience to establish brand differentiation and loyalty as well as improve agility and the speed of monetization  Consider implementing an integrated prescriptive analytics platform • Packaged solutions can speed time to market • Implement a digital platform for improved operating efficiencies and smarter customer segmentation and service development 12
  13. 13. TCS Customer Intelligence & Insights for Communications 13
  14. 14. TCS Customer Intelligence & Insights for Communications Making Digital Transformation Achievable—Quickly and Cost-effectively TCS can help you on your journey to successful digital transformation  Build enduring customer relationships based on deep customer insights  Increase wallet share and new revenue opportunities by exploiting digital channels  Drive operational excellence and deliver superior customer experience leveraging operational analytics Click here to see how you can accelerate your digital transformation journey with CI&I for Communications. Solution for the future with more agility and lower risk: A cloud-based scalable, customer engagement platform with real-time, action-oriented analytics built on patented innovation TCS’ Customer Intelligence & Insights for Communications is customer and operational analytics software that delivers: The complete TCS Digital Software & Solutions Group portfolio includes: TCS Intelligent Urban Exchange, TCS Digital Commerce and TCS Customer Intelligence & Insights for Communications, Banking, and Retail Innovative industry first solutions: Advanced analytics built for communications draws on TCS’s expertise, vision and industry roadmap to ensure sustainable, profitable client growth Fast deployment, low TCO and rapid ROI: Open platform design and modular architecture includes out of the box use cases for communications and ready-made KPIs for fast and cost effective implementation
  • ChaitanyaKulkarni106

    Jan. 3, 2021
  • idcua

    Sep. 20, 2016

Digital transformation is essential for the future survival of communication service providers. Today's consumer is rapidly evolving into the digital consumer of the future. The process of understanding customer requirements and subsequent delivery of compelling services and quality customer experience requires a digital infrastructure. This IDC research, sponsored by TCS Digital Software & Solutions Group, revealed five critical success factors for digital transformation in the communications industry.

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