DTW Recap: An Ecosystem in Action
Over the past several weeks, TM Forum’s Digital Transformation World amassed industry leaders, disruptors and innovators to examine current trends while offering a glimpse into the future. In a constantly changing industry, there was no shortage of topics to discuss.
Many of the discussions revolved around the industry’s response to new technologies, such as IoT, cloud and 5G. Through the course of the series, it became clear that these exciting game changers bring not only challenges to be solved but untold opportunities.
In our recap, we look at some of the topics that dominated the 2021 Digital Transformation World.
Co-Creation and Collaboration
With the revenue from traditional services like voice and text declining, CSPs are on the lookout for ways to boost their top line. According to CSG’s James Kirby and Verizon’s Tony Judd, B2B and B2B2X present telcos with a lucrative opportunity.
By participating in a wide ecosystem of partners, CSPs can create new revenue and drive innovation. For example, a telco can offer stellar 5G connectivity, an ISV can bring an innovative application to market and a hyperscaler can provide cloud services. Co-creation and collaboration are key for CSPs moving forward.
Connecting with Customers
CSPs do not simply provide connectivity—they also connect with their customers. At the core of any appealing public-facing brand is a company built on solid principles. Having a customer-first mindset and culture is vital to drive customer loyalty but having the ideal technology in place to execute the brand promise is just as important.
CSG’s Head of Customer Engagement Alfred Binford believes that CSPs can utilize their data to truly understand what their customers want. These insights can be used across various touchpoints, ensuring that you are in tune with your customers.
“At the end of the day, those orchestrated experiences offer the highest levels of loyalty,” said Binford.
New Roles for a New Era
As CSPs begin to transform their business models to accommodate new technologies and opportunities, they need to accept and assume new roles. Ultimately, they need to make the shift from telcos to “technos.” This transformation requires CSPs to change their traditional operating models while embedding a digital-first approach.
In the past, CSPs viewed themselves as operators, but this new era is going to require orchestrators. Instead of thinking about bundling, they should provide value through solutioning. Most importantly, CSPs must move from closed, telco-based IT systems and processes toward open platforms and automated cross-ecosystem business practices.
An adage in writing tells us to show, not tell. Through the dozens of sessions during Digital Transformation World, the speakers and participants showed the industry what the future will look like: an active and engaged ecosystem, working together to deliver exceptional experiences through game-changing technologies.
It’s one thing to talk about what the future will hold—it’s another to show it in action. TM Forum’s Digital Transformation World accomplished just that.