I recently attended the three-day virtual event, hosted by Telecoms World Asia, where attendees like me could witness live presentations and panel debates across six channels by telco, tech and digital leaders.
Our CEO, Mr Pankaj Gupta, was also one of the eminent speakers at the event. In his session, Mr Gupta shared his thoughts on the current state of telcos in the market and how they could compete with digital disruptors. He also discussed the many possibilities that telcos can look forward to, by partnering with CPaaS providers. What follows is a summary of this session:
How Telcos can regain lost ground with CPaaS
In the telco world, disruption seems to be the new normal. With the continuous changes in technology, competitive landscape and consumer behaviour, it’s getting all the more challenging for telcos to survive and sustain their significance in the market. According to Ovum’s estimation, there’ll be a 36% drop in the core telecom services revenue in the coming few years.
As technological breakthroughs accelerate, more and more business disruptors are entering the core telco market, cannibalising them with innovative and cost-effective business models and technologies. Their success is defined by 3 key factors under the Experience Economy:-
- Customer Experience- Offering feature-rich, immersive user experience
- Business Experience- Having faster time-to-market, pay-as-you-use business model
- Developer Experience- Providing easy-to-use APIs
In order for telcos to stay relevant and be ahead of the game, they should leverage on Communications Platform-as-a-Service (CPaaS) to create new revenue streams, protect their core assets, and improve customer experience and stickiness. CPaaS is a communication platform that enables developers and businesses to seamlessly and securely integrate communications capabilities such as video, voice, SMS and messaging into their own applications with APIs. It encourages easier, faster and cost-efficient customer engagement.
By partnering with CPaaS providers, telcos can offer carrier-grade Communications APIs built on their own infrastructure and network. They can either sell Communication APIs, create an API marketplace or bundle with professional and consultancy services. Other than just selling APIs, telcos can also leverage on CPaaS to add new communication channels and enhance their existing suite of unified communication and telephony solutions with more features. Telcos could also use CPaaS to rapidly establish their own functional software applications.
Partnering with the right CPaaS provider
Telcos need to make a shift in mindset and become Digital Service Providers. By collaborating with CPaaS providers, telcos could turn defence to offence and offer carrier-grade, feature-rich communication offerings that bring more value to the customers. However, It is important to know that not all CPaaS service providers are alike. Partnering with the right provider that has the platform to support telcos today and in future is paramount.
One such CPaaS provider that empowers telcos with the right solution during their digital transformation is EnableX. Being a full-stack CPaaS-enabler, EnableX provides telcos with the flexibility to deploy comprehensive sets of APIs on their own network and data centres, giving them greater control and the ability to offer QoS. Its white-label platform allows carriers to customise billing, UI, documentation and more.
To learn more about how EnableX can help telcos expand their portfolio, regain customer loyalty, and grow revenues, download the whitepaper or watch this TWA talk.