Report cites four guiding principles for shifting to an outcomes-oriented business model
New York, 24th February 2017 – Many factors are driving evolution in the technology, media, and telecommunications (TMT) sector, but one thing is for certain: software is the grease that turns the TMT wheels.
PwC’s new report, Software greases the wheels, provides a survival guide for TMT companies that face daunting challenges in shifting to services-driven business models. Key takeaways from PwC’s report include:
“It is clear that new digital companies, startups and even non-traditional competitors are challenging the supremacy of established TMT enterprises,” says Brad Silver, PwC's Global TMT Leader. “Large TMT companies need to focus on organizational and cultural tools to quickly pivot in response to technological change.”
Four steps toward a ‘software and services’ business model transformation
As companies increase the pace of technology adoption and industry walls continue to break down, TMT companies making the shift to a services-oriented business model need to address multiple areas such as strategy and structure, offerings and operations, and must also establish a framework for responding to risks and regulations. In Software greases the wheels, PwC identifies four principles to help guide the transformation:
A new TMT order on the horizon
The next few years will be crucial in determining which TMT companies stay ahead or get left behind. As emerging technologies and software become the lifeblood of business, transforming to a services-and outcomes-driven business model will be the way forward not only for TMT, but for all industries.
The bottom line: TMT companies need to prepare now for the seismic shifts collapsing and transforming industry ecosystems and value chains. Amid our increasingly interconnected and “smart” world, customers continue to demand speed and simplicity—the most direct and trusted route to a desired outcome. Click here to read PwC’s full article.
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