3 out of 4 Telcos Still Rely on Stores and Call Centers for Revenues, Upstream Report Says
For over 70% of telecom operators, stores and call-centres are still the dominant distribution channels despite the unprecedented connectivity and e-transaction demand across the globe brought in by the Covid-19 pandemic. That’s according to a new report by mobile technology specialists, Upstream, conducted by the Technology Innovation Council (TIC).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210202005726/en/
"Road To Digital" Telco Insight Summary Report by Upstream (Graphic: Business Wire)
It is clear that telco operators understand the value digital sales can create. 75% of them are increasing their digital transformation investments, with around 65% having already developed their own digital transformation roadmaps. Nonetheless, only one in four have established relevant KPIs.
Upstream’s “Road to Digital” report notes operators across markets identify the following as the top five benefits to their business from digital transformation, in this order: Cost reduction via automation (66%), improved customer experience (59%), improved revenue growth (46%), efficiencies through automation (39%) and more effective marketing (27%).
However, there are challenges that are still keeping most dependent on physical sales. They acknowledge such challenges to be: integrating new solutions with existing technologies and platforms (73%), privacy and data concerns (54%), cost of new solutions (46%), establishing the Return on Investment (ROI) (43%) and, lastly, internal skillset (34%), or rather the lack of it.
Leading the race to digital sales are operators in North America that record the highest digitally driven revenue percentage in the world (45% from digital channels already), followed by APAC countries (39%). In the Middle East and Africa physical sales are still king (72% physically driven revenue) while in Latin America 100% of telcos say they mostly rely on physical channels to derive revenues most of the time. European operators are somewhere in the middle (57% having switched from physical channels and deriving 29% of revenues mostly from digital sales).
“During the pandemic telecom operators worldwide worked around the clock and kept economies going, making connectivity possible for all of us. This has caused them to step up their own efforts to become more digital, bringing their more mid to long term plans forward. To succeed in creating value from digitalization and fast, telcos need to balance a fine line, overcome the big organization inertia, escape the drawing board and aim for smart quick wins and solutions”, says Upstream CEO, Dimitris Maniatis.
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Bessemer Venture Partners Closes $3.3 Billion Across Two Funds; Welcomes Amazon.com Veteran Jeff Blackburn as Partner26.2.2021 01:40:00 EET | Press release
Bessemer Venture Partners, a global early-stage venture capital firm, today announced the close of two new funds, adding $3.3 billion of capital for investing in promising technology companies at their early and subsequent growth stages. Additionally, the firm welcomed five new partners, including Jeff Blackburn, who joins Bessemer Venture Partners from Amazon, alongside the promotion of existing Bessemer investors Mary D'Onofrio, Mike Droesch, Tess Hatch, and Andrew Hedin. “Today marks an incredible milestone at Bessemer as we launch our latest and largest funds and add five exceptional investors into the partnership,” said Jeremy Levine, a partner in Bessemer’s New York office. “I’m proud to celebrate the success of Mary, Mike, Tess, and Andrew, and I am excited to welcome Jeff to the firm. Having known Jeff for 15 years, I’m a great admirer of his stunning track record as an innovator and leader paired with his deep humility. I know his peerless experience leading one of the world’s
Puma Biotechnology and Pierre Fabre Amend NERLYNX® License Agreement to Include Greater China26.2.2021 00:07:00 EET | Press release
Puma Biotechnology, Inc. (Nasdaq: PBYI), a biopharmaceutical company, and Pierre Fabre, a leading French pharmaceutical company, have agreed to extend the terms of the 2019 license agreement which grants Pierre Fabre exclusive rights to develop and commercialize NERLYNX® (neratinib) within Europe, Turkey, Middle East and Africa. The amended agreement extends Pierre Fabre’s commercial rights for NERLYNX to Greater China, which includes mainland China, Taiwan, Hong Kong and Macau. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210225006150/en/ Under the terms of the amendment, Puma will receive an upfront payment of $50 million, as well as additional regulatory and sales-based milestone payments that could add up to an additional $240 million. These milestones will be based solely on regulatory and sales achievements in Greater China. In addition, Puma will receive significant double-digit tiered royalties on the sales of NERL
Moody’s ESG Solutions Group: V.E Provides Second Party Opinion on Italy’s First Sovereign Green Bond Framework and Issuance25.2.2021 22:33:00 EET | Press release
Moody’s ESG Solutions Group announced today that Moody’s affiliate V.E has provided a Second Party Opinion on Italy’s sovereign green bond framework and first green bond issuance. The framework, which is aligned with the four core components of the Green Bond Principles 2018, will be used to finance budget lines reflective of Italy’s environmental priorities, including renewable energy and clean transportation. In V.E’s opinion, these categories are likely to contribute to seven of the United Nations Sustainable Development Goals. “In our assessment, the bonds issued via this framework will provide a ‘robust’ contribution to sustainability. Italy has committed to conduct due diligence on the environmental contribution of the projects that it chooses to finance. The financed expenses have clear benefits in terms of climate mitigation, climate adaptation, pollution prevention and control, transition to a circular economy, the responsible management of natural resources, and the protectio
International Zinc Association Launches Zinc Battery Initiative25.2.2021 21:48:00 EET | Press release
The International Zinc Association (IZA) is excited to announce the launch of its newest program, the Zinc Battery Initiative. Recent extreme weather events, amplified by climate change, have once again focused attention on the future role of fossil fuels and the capacity and resilience of energy grids worldwide. One of the most impactful ways of addressing this is through cost-effective energy storage. As renewables become an ever-greater part of the electrical grid, energy storage can help address solar and wind power's intermittency. It can also help respond to large fluctuations in demand by capturing and storing excess energy during low demand and bringing it online during peak times. Energy storage also helps provide resilience by serving as a backup energy supply when generation is interrupted. It will also play a pivotal role in electrifying transport, and other applications where power is needed, but tethered connections to the grid are not practical. Addressing climate change
Hyosung TNS Invites Customers to ‘Be Inspired’ With New Campaign25.2.2021 19:00:00 EET | Press release
Hyosung TNS, the world-leading ATM manufacturer, has begun a global initiative to reinvent its user experience through the implementation of a branding refresh titled “Be Inspired.” The campaign draws upon the impressive technological history of the industry innovator to lead clients through a journey to experience solutions-driven communication. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210225005240/en/ Hyosung TNS' technologically impressive, new 140-page website has been designed to unify Hysoung's leadership in the financial institution and retail industries and consolidate all of its previous, regional websites into one global website, including a multi-language interface and an intuitive, interactive product catalog. (Photo: Business Wire) The “Be Inspired” initiative employs “plain language and interaction” that show how Hyosung is inspired by its customers to create new business solutions – and how those solutio
CMT’s New Report Confirms Increasing Appetite for Connected Insurance in Europe25.2.2021 18:25:00 EET | Press release
A large shift in driving habits due to the COVID-19 pandemic has changed how people think about motor insurance across Europe, according to a new study by Cambridge Mobile Telematics (CMT), the world’s leading mobile telematics and analytics provider. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210225005773/en/ (Graphic: Business Wire) Based on the surveys of 4,000 drivers in France, Germany, Italy and the U.K., the new report shows shifting attitudes towards quoting channels, claims services, pricing models and value-added services, broken down and analysed by location, age and driving behaviour. The two surveys - taken in January 2020, before the pandemic, and then nine months later in September 2020 - reveal up to 81 percent of the drivers in Europe have changed how they drive because of COVID-19. Now 65 percent are interested in connected insurance, a 32% jump in nine months. The pandemic has modified commuting patter
Alpega Group Showed Impressive Results In 202025.2.2021 18:00:00 EET | Press release
Alpega Group, a leading provider of end-to-end transportation and logistics management software, has positioned itself to meet logistics challenges with impressive results in 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210225005665/en/ Alpega Group, a leading provider of end-to-end transportation and logistics management software, has positioned itself to meet logistics challenges with impressive results in 2020. (Photo: Alpega Group) Alpega’s business units had an outstanding performance last year. On one hand, their freight exchanges’ customer acquisitions strongly grew by 20% compared to the previous year and existing clients had a higher renewal rate. On the other hand Alpega TMS added 83 new customers and had a tremendous increase in usage of their smart booking solution. Alpega’s CEO, Todd DeLaughter, commented on these results: “I’m very excited with Alpega’s excellent performance proving the value of our sol
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom