In a recent global survey conducted by Accenture across various sectors (one of which was the telecommunications market), 93% of corporate executives surveyed said the long-term success of their company’s strategy depended on their ability to innovate. However, only 34% believe their company has a well-defined innovation strategy.
Among the leading failure to innovate reasons were:
- Lack of customer relevance
- Slow speed-to-market
- Incorrect pricing of new products or services
- Shortage of new or unique value propositions
When asked, less than one-fifth of Communications Service Providers (CSP) stated that they plan to introduce new products and services on a regular basis in order to satisfy customers and be competitive.
As Unified Communications and Convergence continues to blur the lines between competitors and collaborators it is becoming increasingly more important for today’s CSP to start defining a dedicated process and budget to bring larger scale innovation to market.
EngageIP Billing for Communication Service Providers (CSP) can help you overcome some of the innovation challenges above by allowing you to deploy a single charging and billing system that is flexible, integrated and converged. Even your back-office functions like billing can benefit from innovation to be more customer-centric and capable of providing the digital products and services customers’ desire.