With recession and inflation being key themes of 2023, the average business needs to ensure that revenue is grown, costs streamlined, and inefficiencies reduced.
In order to tackle suboptimal processes, you first need to find them. That means posing tough questions across the full sweep of your operations, from the top of the sales pipeline to your digital transformation plans.
Here are some key questions telco IT leaders need to ask.
Is our tech stack future-proof?
Customers pay the price of cumbersome tech stacks with a slower and more complicated customer journey. This is at odds with what B2B customers, who are accustomed to personalized offers, pricing and bundling, regardless of product complexity or scale.
With 87% of B2B leaders saying that customer experience is crucial to their companies’ strategic priorities, IT leaders need to get systems up to par.
90% of businesses are restricting themselves by continuing to use outdated tech stacks, effectively preventing them from providing the high-quality customer experiences that are expected of them.
An architecture that can be easily reconfigured to respond to changes in customer demands and expectations future proofs an organization. IT leaders need to ensure that the tech stacks that support the entire operation have that flexibility.
How do we justify investment in digital transformation?
With 89% of companies putting digital-first strategies into play, IT leaders need to be proactive about digital transformation or risk getting digitally disrupted.
As a means of transforming processes, digitally transformative technologies have evolved from a nice-to-have capability to a must-have. Having an architecture that is constantly keeping up with changes in demands future proofs an organization.
The 2021 IDG Digital Business Survey revealed that 44% of survey respondents cited improving employee productivity/performance as a major driver for digital transformation. With annual spend on digital transformation efforts hovering around the US$3 trillion mark, telco IT leaders are under pressure not to be left behind.
But if you are going to transform, you need to justify it. How does this align to our core business objectives? Will it help me drive ARPU? Or lower the cost of acquisition? Or keep your churn rate low?
A common trap is neglecting to fully consider the business justification behind a digital transformation, and ending up with a sophisticated tech update... that doesn’t address any key business needs.