Acceleration of Digital transformation in the telecommunications industry

Tech 2023-06-01 08:09:49 Source: Network

Currently, under the challenges of 5G infrastructure investment, intensified competition, accelerated changes in customer demand, and economic recession, major telecommunications companies around the world are continuously increasing their efforts to reshape their business and operational models. KPMG China recently released a report titled "Future Prospects for the Telecommunications Industry", proposing the key capabilities required for the development of relevant enterprises and elaborating on the potential risks and rewards in combination with actual situations

Currently, under the challenges of 5G infrastructure investment, intensified competition, accelerated changes in customer demand, and economic recession, major telecommunications companies around the world are continuously increasing their efforts to reshape their business and operational models. KPMG China recently released a report titled "Future Prospects for the Telecommunications Industry", proposing the key capabilities required for the development of relevant enterprises and elaborating on the potential risks and rewards in combination with actual situations.

Chen Jiande, managing partner of KPMG in China's communications, media and technology industries, said that the telecommunications industry is a basic, strategic and leading industry in China. As an important support for promoting the Digital transformation of the economy and society, it plays an important role in China's digital economy. Currently, the development of the digital economy is constantly accelerating, posing higher standards for the development of the telecommunications industry. The accelerated development of new infrastructure and new technology also provides support for the telecom industry to expand new fields. Relying on new generation digital technologies such as 5G, cloud computing, big data, the telecom industry is accelerating the process of industrial Digital transformation.

Gao Renbo, the managing partner of KPMG China Communications, Media and Technology Industry Management Consulting Services, believes that in the new situation, the expectations of consumers and business clients are increasingly high. The former hopes to obtain higher quality, flexible, and convenient services at a more transparent price, while the latter hopes to obtain more mature network and data solutions without the intervention of call centers or sales representatives. Many telecommunications companies have turned their attention to user experience. The virtual self maintenance mode helps to quickly respond to emerging network issues, thereby avoiding business interruption. Research shows that 56% of global telecommunications companies have invested in building strong virtual self maintenance models.

With the increasing challenges faced by telecommunications companies, traditional business models are facing challenges, and how to achieve business diversification and improve profits has become a necessary issue to face. The report points out that current inflation and interest rate trends may lead to an increase in capital costs for telecommunications companies, so many telecommunications companies are reassessing and adjusting their priorities from infrastructure upgrades to the deployment of new 5G features. In a global survey, nearly three-quarters of telecom company executives stated that they have invested or plan to invest in joint venture network operation models, and the differentiation of telecom companies has begun to shift from networks to services.

In the future, the most expensive technology investment will still be network upgrades. The report shows that telecommunications companies need to continue investing in 5G and future 6G network upgrades to meet the broadband needs of residents. At the same time, telecommunications companies should continue to focus on how to maximize the use of evolving tools such as artificial intelligence and machine learning to improve services and operations.

Telecom companies can become smart chain enterprises and benefit from building a series of basic capabilities. Telecom enterprises with such capabilities can connect the front, middle and back offices to achieve customer centered Digital transformation. For telecom enterprises, KPMG China's smart chain enterprise solutions provide insight oriented, customer-centric Digital transformation means, including a series of tools and templates, which can help customers to transform maturity assessment into a practical strategic and operational blueprint to promote smart chain capacity building.

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