DTW Session Recap 4: Bringing the (B2B) Band Together
There is tremendous value in co-creation. Take, for example, John Lennon, George Harrison and Paul McCartney (sorry, Ringo). Sure, they all had stellar solo careers, but those efforts never came close to eclipsing their work together with The Beatles.
As The Beatles prove, when talented and innovative collaborators combine and integrate their strengths, the whole is greater than the sum of its parts. The principle applies to the B2B and B2B2X ecosystems.
At a time when traditional revenues are declining and data is becoming ubiquitous, B2B and B2B2X present telcos with a lucrative path forward. During the Digital Transformation World session “Growing B2B and B2BX: Delivering value from co-creation,” telco industry leaders discussed how CSPs can capitalize on the opportunity—and what comes next.
The New Prize: Enterprise
CSG’s Head of EMEA, James Kirby, and Verizon’s Tony Judd discussed the opportunity for CSPs in enterprise services. Compared to many industries, enterprises have responded seamlessly to the challenges posed by the pandemic—by some estimates, digital acceptance has been accelerated by 3-5 years in the past 18 months. As a result, there has been widespread acceptance of digital collaboration tools in traditional businesses.
As CSPs look to move beyond ICT, there are several elements of enterprise services they need to keep track of:
- Security—With an increase in global ransomware in the past year and a half, CSPs need to ensure that they are protected from bad actors.
- Technology—Having the ability to harness new technology like cloud and artificial intelligence (AI) is fundamental to creating a hyperconnected and co-creating future.
- Ecosystems—New digital ecosystems are driving innovation. For example, a telco can provide 5G connectivity, a hyperscaler can provide cloud services and an ISV can bring innovative applications to the market.
Embracing New Roles
To successfully transform their business models, CSPs need to fundamentally accept new roles and responsibilities. Where they once viewed themselves as operators, they should view themselves as orchestrators moving forward. While bundling was once a widespread answer, solutioning will provide value in the era of 5G. Finally, CSPs need to move from closed, telco-based IT and business processes to open platforms and automated cross-ecosystem business processes.
CSPs are entering an exciting new era of innovation, powered by cutting-edge technologies and collaboration. To succeed in the era of B2B and B2B2X, CSPs need to transform their business models, embrace new roles and collaborate to provide new enterprise services.
Because when CSPs get (back) together with innovative partners and parties, amazing things can happen.