In light of the recently passed Telecommunications (Security) Act, it’s clear that the UK government has finally caught on to what we have been saying for some time - the telecoms industry is in need of a significant shake up.
Whether they like to admit it or not, telcos are in the midst of a big wake-up call. While digital-native companies like Netflix and Airbnb have raised the bar for what consumers expect in terms of service, telcos have struggled to keep the pace.
In our previous posts, we shared new research findings which painted a very sorry picture of the telecoms industry. Not only are telcos struggling to grow their topline, their relationship with their customers is essentially on life support.
A combination of sky-high expectations from customers and slow-moving organisations built on creaking infrastructure make this a worrying time for telcos. You only have to look at industry share prices to know that the telecoms space is lagging behind other industries.
There are numerous examples of startups that puts pressure on established companies and industries. Sara Rasmussen strikes a blow for Teltech.
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