No other utility sector has experienced more worldwide innovation and growth in recent years as the telecommunications industry. Data rates grow with breath-taking speed and require investment in new networks and technologies.
More than ever, telecom operators need to focus on their customers' needs.
In this rapid development process, existing regulations, the continuing fierce competition and the need to make business processes more profitable, are now the norm. Other key themes that straddle this industry include:
A need to reinvigorate legacy business models to adapt to this new world (pricing, services, customer relationships) and remain competitive in the face of new, more nimble players entering their markets.
Communications operators are among the most data-rich of all businesses, with opportunities to capture and store a vast array of potentially valuable customer data. Yet to date they have not capitalised on their “big data” assets as fully as they could. The underlying reason lies in the difficulty of turning an operator’s diverse mass of data into useful insight – a task that depends critically on having data that’s trustworthy, timely, and of a consistently high quality. To achieve these attributes, operators need to build a data quality competency – a dedicated, specialised unit responsible for maintaining, safeguarding and ensuring the quality of data across and beyond the enterprise. In a world where business decisions are increasingly dependent on data, building such a competency is critical.
Investment decisions also require a closer assessment of the skill sets required to thrive in this new environment: a company's agility, customer relationships, pricing models, its product life cycle, and whom it partners with. And where investments involve third party providers of debt or equity, how can they get comfortable with the company's ability to execute successfully in this new world, and how quickly can it make the transition, and make it stick?
Successful companies will be those who on the one hand control their costs consistently and on the other hand turn technical innovations into marketable products quickly and effectively.
PwC assists clients in the field of telecommunications not only to solve business issues, help with regulation, compliance and risk but also to develop and achieve long-term strategic objectives. Our specialists deliver top class service thanks to their industry expertise and global perspective. That is one of the reasons why more technology companies choose PwC than any other professional services firm.
To meet the challenges, companies in the industry need PwC’s breadth and depth of understanding of the financial aspects and of the business sector.
Head of Assurance, PwC Malta
Tel: +356 2564 7292
Advisory Partner, PwC Malta
Tel: +356 2564 7091