TM Forum CEO Nik Willetts challenged communication service providers (CSPs) to capitalize on the value of digitalization and shared how companies can effectively transform digitally during his keynote speech at the recently concluded Globe Innovation Forum held in The Globe Tower, Taguig City.
Willetts, as head of the leading association driving digital business transformation in the communications industry, noted that CSPs today are failing to leverage the value of digitalization to their own advantage, most evident in the decrease of wireless and wireline revenues despite the upsurge of total industry earnings.
For instance, although the total industry revenue increased from $3.3 trillion in 2010 to $3.8 trillion in 2015, wireless and wireline revenues declined from 58% to 47%. While total industry earnings is projected to climb to $4.4 trillion by 2018, wireless and wireline operations would only account for 45%.
To fully realize the benefits of the digital revolution, Willetts urged CSPs to embrace transformation in two directions, namely Digital Ecosystem Enablement (DEE) and Digital Services Provisioning (DSP).
“Service providers must not only rely on traditional sources of revenue or on provider-controlled customer interaction but must also develop a highly-automated digital infrastructure where customers are able to self-serve in rich multi-play capabilities and provide digital channels that dominate customer interactions,” Willetts said.
He also stressed the worth of recognizing and confronting customer demand for holistic transformation of the entire business as telcos embark on their own digital transformation journeys.
He emphasized that Open Application Program Interfaces (APIs) constitute an essential element of digital transformation and rapid growth. He asserted the relevance of TM Forum’s suite of Open APIs, which are currently enabling various business scenarios. These scenarios include internal transformations within CSPs to enhance their IT and operational agility, making them more customer-centric. Externally, they facilitate a practical approach to co-creating and seamlessly managing complex digital services from end to end.
In step towards enabling digitally connected ecosystems across the industry, Globe recently signed the Open API Manifesto which is expected to result in better customer experience and improved cost efficiency.
The Globe Innovation Forum (GIF) is one of the three major events that mark the annual celebration of the Globe Innovation Month. The forum is a two-day event where Globe employees can learn new and emerging technologies to strengthen the culture of innovation within the company.
On its fourth year, with the theme, Beyond Technology: The Road to Digital Transformation, Globe once again joined hands with its trusted technology partners to bring cutting edge innovations and insights on how strategy, technology, and people can come together to create a Globe of Good thru stirring exhibits and activities, a thought-provoking plenary, and over 50 breakout sessions.
Globe Chief Information Officer Pebbles Sy-Manalang emphasized the company is keen on creating a culture of continuous innovation from within as this translates to strategies on how to best serve customers in today’s fast-changing digital world.
“The ongoing digital revolution redefines how we provide relevant products and services that will allow our customers to harness existing technologies to their own advantage. And the challenge is to constantly reinvent ourselves so we can continue living up to our mission of creating wonderful experiences for people,” she said.
Globe Innovation Month also featured Mindbrew Sessions, a series of talks to keep Globe employees abreast with disruptive technologies delivered by thought leaders that shape today’s digital landscape.
These thought leaders include Innovantage CEO Gian De La Rama, Ericsson Business Development Head Edwin Ubalde, Zalora CEO Paulo Campos, Grab PH Country Manager Brian Cu, Mynt CEO John Rubio, GXI CEO Abet Tinio, and Virtualahan beneficiary Gerry Gelle.
In addition, the event also served as the launching pad of several interactive prototypes thru its Hack for a Nation, a 24-hour hackathon aimed at building mobile and web applications that would support nation building initiatives from a telco-oriented approach.
Team OhMyGenie, composed of Jomar Luguit, Christopher Fernandez, and Rodrigo Aquino, Jr., bested over 40 other contenders and took home the grand prize of P75,000 plus mentorship from Globe Telecom for developing a cloud-based platform that lets users outsource everyday task while at the same time providing job opportunities.