Telcos plan £16m investment in transformation
European telcos plan to invest £16 million in tech and service development over the next three years.
Research carried out in the UK, France and Germany on behalf of telco tech company Telness Tech found that 97% of telcos pledged to make immediate investments to their back-end infrastructure within the next 12 months.
As part of the investment, 33% of the overall planned spend will be directed towards upgrading back-end infrastructure and 31% will be used for “better services for customers”.
Yet only 16% of telcos recognised a need to be more innovative while 97% were confident in their organisation’s ability to stay competitive in the next 12-18 months.
Sara Rasmussen, CCO of Telness Tech, said: “Despite heavy investment plans, it is clear from the research that traditional telcos have misplaced confidence in their level of innovation and ability to retain their customers.