Telecom incumbents can start by evaluating their core assets and strengthening internal capabilities for digital business, and scale their capabilities gradually as Asian market matures. After establishing their core business and digitising some of their operations and channels, they can look externally and plant their flags in those digitally contestable markets.
Accenture research identifies six rational steps for operators to become a high-performing IDSP:
- Deliver seamless customer experiences -in Asian markets where more than 40% of Asian consumers use a smart phone to shop, or take information from social media into account to make a purchase decision, creating larger, omni-channels that marry web, mobile, social, retail, in-store, call center and other touchpoints for a consistent, shared experience that customers can enjoy. Telecom incumbents can sell more efficiently in an omni-channel while increasing customer loyalty through added convenience.
- Specialise the network- Instead of striving for commoditisation, operators should differentiate their network capabilities, capacities and solutions for premium revenue.
- Create a multi-speed IT architecture -decoupling the system of engagement from the system of records. Create multiple tiers in IT architecture that can accommodate digital services while also simplifying legacy systems for greater agility. Invest in new digital technologies, and build an application programming interface layer, to expose core data to faster-moving digital channels and ecosystem partners.
- Leverage partnerships -Form business relationships across multiple industries that will be the basis forbuilding a digital platform and winning more business.
- Invest in security-According to Accenture's Digital Consumer Survey,nearly a third of consumers trusted service providers the most with their personal data. IDSPs can capitalise on this trust by building separate security and privacy services.
- Monetise data -Data is the lifeblood of digital services. To become an effective IDSP, data analytics should be leveraged to drive personalisation and appeal to new business interests and partners.
Customers have already made digital services central to their lives. Now it is time for telecom incumbents to move to the epicentre of the economy supporting those services. By operating with a fully transformed digital core as an IDSP, they can capitalise on the disruption to win big.
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