The Digital Services segment remains a vast white space that will drive CSPs into the digital future with new business models, and completely overhauled and differentiated brand positioning; an opportunity to come on board as the full-service partner. But are Communications Service Providers prepared?
As the Global economy turns digital, Communications Service Providers (CSPs) are faced with challenges and opportunities. On one hand, the industry is being disrupted by the increasing role of third party digital communication services, also known as Over the Top (OTT) services providers, which are bypassing the traditional service providers and have gained great popularity with subscribers. On the other, CSPs have the opportunity to play an important role in the advancement of digital transformation of various industries. Therefore, in this increasingly digital environment, it is vital for CSPs to reinvent their business model and provide new services for the digital age; such as Mobile Money Transactions (MMT), Internet of Things (IoT) and Big Data.
Rethink the business model
Amongst the available strategies, choosing the most-effective strategy or combination of strategies is key to sustaining a competitive market position and generating new revenue streams. In their quest for new services and revenue streams CSPs may choose to:
- Compete or collaborate with OTT players - launch their own VoIP and IM Services such as the Rich Communication Services (RCS) program initiative backed by the GSM Association (GSMA) or partner with select OTT players for mutual benefit
- Look beyond the core business of providing voice & data services and explore different approaches to find niches in the digital economy - optimize and leverage a unique position within the digital service value chain
- Holistically reassess their business models to ensure relevance and viability in the digital age and address digital opportunities for telecom players including Mobile Money Transactions (MMT), Internet of Things (IoT) and Big Data
CSPs need to focus on bringing about a fundamental transformation that touches all areas of their business. In order to maintain their relevance and visibility in this digital age, it is vital they develop a compelling portfolio of digital services build around Mobile Money Transactions, OTT Services, IoT and Big Data.
Download the Whitepaper
To find out how more about Integrated Digital Services and the opportunity ot presents for CSPs, download the whitepaper.