Research: Telcos to invest £16m in transformation
Research has revealed that, on average, European telcos plan to invest £16 million (€18.5m) in tech and service development over the coming three years.
The research, carried out in the UK, France and Germany on behalf of telecoms technology company Telness Tech, found that virtually all telcos (97 per cent) pledged to make immediate investments to their back-end infrastructure within the next 12 months.
As part of this investment, a third (33 per cent) of the overall planned spend will be directed towards upgrading back end infrastructure and 31 per cent will be funnelled into providing better services for customers.
Despite big funding plans, telcos do not recognize a need for greater innovation. When it came to acknowledging their future plans, only 16 per cent of telecoms decisions makers recognized a need for the industry to be more innovative and almost all telcos (97 per cent) were confident in their organisation’s ability to stay competitive in the next 12-18 months.