UK-Ukraine Tech Forum: Key Takeaways
Another portion of insights is ready to grab your attention.
Our CSMO, Iryna Manukovska, recently represented JEVERA at the UK-UKRAINE TECH FORUM in London. We are immensely proud to be part of such a significant initiative and enhance collaboration between the two countries.
Professionals and business leaders from Ukraine and the UK gathered in one space to share experiences, thoughts, and valuable use cases. Iryna presented key insights for the telecom industry drawn from our comprehensive whitepaper, which was developed in collaboration with the IT Ukraine Association.
Want to get your personalized copy of our whitepaper Digital Transformation for Telcos: 101 Guideline? Do it in one click.
So what about the insights? Yes, we have plenty of information to share. Enjoy your coffee and read on.
Modernizing Legacy Systems and Using Cloud Are Crucial
Without infrastructure maturity, telecom companies can’t gain a competitive advantage. Most telcos face sluggish and cumbersome outdated systems, neglecting the issues they lead to because of huge investments in new projects.
However, it’s not the only pitfall; transformation is a cultural shift within organizations that embrace continuous learning and adaptation. Telecom remains one of the traditional domains used for data centers.
One proven way to prevent stagnation is to move step-by-step regarding software modernization, first fixing issues in client-faced services. Private cloud or hybrid infrastructures are secure solutions that could be a worthy replacement for costly and hard-to-maintain data centers.
Despite worries about the cloud, its adoption enables scalability, flexibility, and the development of new services, facilitating a more responsive approach to market changes.
Data as a Strategic Asset
With the surge in data traffic, telecom companies have a unique opportunity to transform data into a strategic asset. It involves managing vast volumes of data efficiently and using analytics to derive actionable insights. Developing competencies in big data analytics, machine learning, and data security can enable telecom operators to offer advanced data-driven services, optimize network performance, and create personalized customer experiences.
The telecom industry's low NPS scores signal a pressing need for businesses to leverage data analytics to gain a deeper understanding of customer preferences and behavior. Implementing AI-driven analytics can provide insights into customer satisfaction drivers, personalize services, predict churn, and identify new opportunities for engagement. Improving customer experience should be a holistic strategy encompassing every touchpoint in the customer journey.
Commoditization Dilemma. Solution?
To combat the challenges of commoditization and innovation stagnation, telecom companies need to diversify their offerings beyond traditional voice and data services. This could include venturing into content streaming, digital identity services, cybersecurity solutions, and smart home technologies. Emphasizing value-added services and unique customer experiences can help differentiate companies in a competitive market.
Most telecom businesses find cross-industrial collaboration an efficient way to broaden offering, expand audiences and revenue streams. For instance, among attendees at MWC 2024, over 50% of business representatives were out of the telecom sector. Such attention to telecom demonstrates that this domain is a central link for companies to launch new services.
The development of digital transformation guidelines, in collaboration with IT Ukraine Association and global partners, also signifies the importance of international cooperation in advancing the telecom sector. It aims to share knowledge, foster innovation, and develop joint ventures that leverage the strengths of each partner to introduce cutting-edge solutions and digital services tailored to customer needs.
Strategic Investment in Future-Proof Networks
The balance between immediate customer satisfaction and long-term infrastructure development is critical. Investments should focus not only on expanding network coverage but also on future-proofing the infrastructure to handle emerging technologies and data demands. This includes deploying fiber optic networks, investing in 5G infrastructure, and exploring satellite internet options to ensure resilience and redundancy, especially in rural or hard-to-reach areas.
Want to learn more details on upgrading your telecom software infrastructure in 2024? Contact us to discuss the scenario that best suits your business.