The New Telco Era Post COVID-19
COVID-19 will be a game changer for telecommunications providers as facilitators of changes in consumer demand, enterprise innovation and the way the entire society interacts.
According to telco leaders, one conclusion sticks out: Moving forward COVID-19's impact on the digital society will underpin and help boosting CSPs' digital transformation strategies. But companies will also benefit from the "new normal" as far as remote operating paradigms and telco talent sourcing, independent of location, are concerned. Here are the main COVID-19 implications, that will inevitably shape CSPs' strategy moving forward:
Remote operations will persist as the biggest structural power change in the telco sector.
Location Independent Access to Specialist Talent
This will be the most powerful game changer for the telecommunications industry.
CSPs Will Have to Reinvent Their DNA
This shift will be foremost reflected through CSPs' positioning in Digital Value Creation Ecosystems in the OTT-dominated digital economy.
New Operating Paradigms
the proliferation of the digital services requires foremost deep changes in telco companies' business and operating model, intertwined with skillsets and organizational change management.
Changing Consumer Spending Behavior Usage Patterns and Volume
Much of the forced changes in consumer behavior, as well as enterprise sector restructuring, will accelerate investments in bandwidth upgrades (incl. core network, 5G and FTTx).
Reformation of External Supplier Relationships in Favor of Local (External) Customer Response Teams
This implies adjustments of supplier sourcing criteria, shifting to local and nearshoring, as well as digital KPIs that support strategic technology investments.