Pillar: No-Code OSS
Post-COVID Telecom Future: What Operators Should Expect
To get a picture of how things might turn out, the following are the possible scenarios for the telecom sector post-covid.
The coronavirus pandemic has caused significant setbacks for various businesses globally, and the telecom industry is no exception. For instance, the pandemic caused an excessive demand for communications and mobile networks as more people spent more time online than ever before. This was attributed to the social distancing guidelines set for the management of the virus.
As a result, telecom companies ended up temporarily suspending data caps. Consequently, the quality of telecommunications service was affected. Thus, there is a need for telecom companies to make necessary changes that will ensure their smooth operation. To get a picture of how things might turn out, the following are the possible scenarios for the telecom sector post-covid.
Telecom Becoming More Valuable
As the spread of covid-19 continues to slow with the onset of the vaccines, the economy is also slowly recovering. Luckily, telecom services are still going to be crucial as more people continue to work from home. Thus, the telecom industry will now be more valuable than ever.
Consequently, telecom companies will have to put more effort into research and development to keep up with the high demand. It is no longer enough to be good. Telecom companies have to invest in network infrastructure, acquisitions, and mergers. In addition, telecom companies will also need to diversify their business dealings by engaging in B2B, B2C, and IoT.
Since having the best infrastructure will not be enough, telecom companies will have to offer the best coverage both in and outdoors to be genuinely the best. They also must consider minimizing physical retail as a way to adhere to the Covid-19 guidelines for social distancing.
Symphonica allows you to integrate your BSS to any network access technology with a few clicks, and easily design custom automated provisioning workflows. No coding required.
The Need to Minimize Costs
As stated above, the pandemic has significantly affected the economy. Thus, in the future, governments may opt to regulate industry dynamics, support businesses, and consumers, or even re-nationalize some companies.
To be ready for these possible outcomes, telecom businesses have no option but to strategize on minimizing costs. In addition, to drive economies of scale, telecom businesses have to expand their market share while focusing on fixed markets and urban mobile.
Additionally, having simple and standardized offerings such as bundles for retention with low customer touchpoints go a long way in minimizing costs. Other cost-minimizing initiatives include tight budgeting, outsourcing whenever necessary, focusing on maximum cost efficiency in all customer channels, and working with competitors and governments.
High Demand but Low Purchasing Power
As mentioned above, the changes in lifestyle brought by the pandemic have caused a high demand for telecom services. However, since the pandemic has made the economy weak, the purchasing power is bound to be low despite strict regulations on prices.
Therefore, telecoms will have to engage in B2C and B2B mass market, prioritize urban coverage and carry commodity bits over wireless and fixed networks. The provision of value-added services will likely be the best niche, but only when the necessary investment is small.
In this case, the best operators will offer reliable but still inexpensive services built around standardized product offerings. Innovation is still going to take center stage, and some of the expected changes in customer service include:
- Automated chat boxes
- Robotic process automation
- Automated voice assistants
Additionally, there will be a need to cooperate with other telecoms, digitalize the workforce, lobby governments for subsidies, and recruit or retain staff as necessary.
It may also be necessary to prepare for potential changes in the business structure.
In summary, the telecommunications sector has been hit by the pandemic by two opposite forces. One force is the increase in demand for electronics as a source of entertainment at home, and the second is the adoption of the work and entertainment trend as more people will be working from home. Nevertheless, recovery strategies should be the key focus.
Symphonica allows you to integrate your BSS to any network access technology with a few clicks, and easily design custom automated provisioning workflows. No coding required.