How to cut the cord on expensive telecom infrastructure
The telecoms industry has been lagging behind other big players in the tech space for years, and despite some interesting innovations within the likes of 5G, the industry is lacking the basics. And with the world around us moving at a rapid pace, faced with the impact of the pandemic, the great resignation, a new digital era and the cost of living crisis - mobile operators are left with little to no choice but to drive forward into a digital era that allows them to cut cost and keep pace with competition.
So, what are the benefits of cutting the cord on hefty infrastructure and going digital?
Put your customer first
Let’s face it - up until now, the telecoms industry has been complacent. For years telcos have been able to brush off customer dissatisfaction and plod along with little innovation. But as we enter a new world faced with ever changing complexities and a digital first mindset, there’s no room to hide.
Consumers expect a user friendly service. Our research shows that the majority of telecoms executives (97%) say their customers are loyal to their brand, but 75% of young consumers are planning to switch provider soon. That’s why we’re seeing challenger brands, such as GiffGaff, growing at a rapid pace with a much higher customer happiness score.
In fact, the likes of YOXO by Orange boasts a 90% customer recommendation rate and an NPS score triple that of the average mobile operator. Why? Because going digital has freed telcos up to concentrate on their most important asset, their customers.
Cut back your OPEX
We ensure all our services are centered around the customer experience, enabling us to offer partners a 50% lower churn than the industry average, and a 3x higher customer satisfaction rating.
We’ve done this simply by addressing the cost. Hefty legacy infrastructure is not only outdated, clunky and overcomplicated - it’s expensive. For telcos running off old software and on premise hosting, there’s little to no choice but to set high price margins for customers.
And whilst in the past switching to digital may have been an afterthought, in a landscape full of financial ambiguity it’s a necessity. The beauty of migrating to a digital first solution is that it automatically cuts your costs, both because of automation that ultimately reduce the need for manual labor as well as a direct reduction in infrastructure cost as a result of cloud hosting and smart scaling of the platform .
Take our services as an example. 80% of our service interactions are self-serve, meaning less overhead costs and support staff needed. In fact, most cloud based models require only 10% of maintenance costs in comparison to traditional infrastructure.
Automated telco platform for a better culture
Many of the telcos we speak to not only want to migrate to digital for the cost savings, but for their people too. Legacy infrastructure requires hours of manual work and support from other departments that leads to unhappy staff.
And unhappy staff means unhappy customers. A poor working culture as a result of frustrations with tech trickles through into the overall customer experience. With the right digital solutions and tech stack that allows flexibility, employees are able to remain agile and free to make a difference, meaning they work more efficiently and customers are retained.
In this case investing in the right software and hosting isn’t just a business move, it’s a people move.
Switching to an automated, cloud based platform doesn’t need to be complicated
We are well aware that the telecoms space is complex, yet reports say that telco stock prices have plummeted over the last five years, and for telcos looking to come out the other side the absolute priority is to increase shareholder value in the next five years. That’s why we’ve built and invested into a system that makes it easier to adapt, implement and migrate.
To do this, telcos need to move fast. Luckily, migrating to a digital solution isn’t as scary as it seems. At Telness Tech, we’re able to migrate your services over in a matter of months. On average, it takes us only three, compared to six to 12 for incumbent players.
Switching from high touch, on premise solutions to an automated cloud platform isn’t complicated, it’s logical - and it means more money and time to invest into your business operations, innovative offering, customers and culture.
For more information, contact us on firstname.lastname@example.org