The communications service providers market, as most know, is vital. Things like voice calls, messaging and internet connectivity are vital for all communications. Traditional and mobile providers in the market (such as AT&T, Verizon, Vodafone and Orange (News - Alert)) are focused on expanding service portfolios to include data services, cloud solutions and digital communications. That only means market competition is fierce.
So, CSPs must find a way to unlock further growth opportunities. To do that, they need to address gaps in delivery and ensure levels of customer service don't decline after the initial sale and setup phase, according to new research conducted by analyst firm GlobalData on behalf of Amdocs. (Amdocs (News - Alert) is a provider of software and services to communications and media companies.)
The report, titled "Every Move Counts: Enterprise Lessons and Growth Opportunities," sheds light on the performance of CSPs in meeting the unique communication requirements of enterprises. CSPs are leading the pack in understanding and satisfying enterprises' distinct communication needs. According to the report, 43% of respondents expressed satisfaction with their CSPs in this aspect, making them the least likely to be dropped from an enterprise's partner ecosystem.
There is still room to grow, of course. The research findings highlighted the potential for CSPs to expand their revenue streams beyond core communication services by leveraging the trust and value placed in them by enterprises. For instance, providing digital/e-commerce services and network-based value-added services like cybersecurity and managed IoT can be lucrative opportunities for CSPs.
In the realm of digital/e-commerce, CSPs can leverage their infrastructure and customer relationships to provide services like cloud solutions, e-commerce platforms and digital marketing. By offering these services, CSPs help enterprises enhance their online presence and drive revenue growth.
In the realm of network-based value-added services, CSPs can provide cybersecurity solutions and managed IoT services. These offerings address the growing needs for robust security measures and effective management of IoT devices, allowing CSPs to capitalize on enterprises' increasing reliance on connected technologies.
Expanding into these areas not only diversifies CSPs' revenue streams but also leverages their existing infrastructure, expertise and customer base.
The study also identified five crucial stages in the enterprise customer service lifecycle: service exploration, contracting, provisioning and implementation, service performance, and ongoing maintenance and support. Enterprises attached significance to all five stages, emphasizing the need for a holistic approach to service delivery and the provision of an exceptional end-to-end customer experience.
"To compete against the myriad competitors offering IT and telecommunications solutions to enterprise customers, CSPs must offer a compelling portfolio, but also deliver an excellent experience at every stage of the customer journey," said Andy Hicks, Senior Principal Analyst at GlobalData.
However, among these stages provided in Amdocs' study, provisioning and implementation emerged as the most critical (with 35% of enterprises affirming that it had the greatest impact on their buying experience). This stage refers to activities such as service orchestration, user/system setup, and integration with existing infrastructure. Ensuring a smooth transition and effective integration of services during this stage can greatly influence customer satisfaction and the overall success of the partnership.
Additionally, approximately 38% of enterprises reported that CSPs had failed to deliver on their contracted services at least three times within the past year, indicating room for improvement in meeting service expectations. This finding underscores the need for CSPs to enhance their service delivery and meet the expectations set in the contractual agreements. Consistency and reliability in fulfilling contractual obligations are critical for building and maintaining trust with enterprise customers. Addressing this issue would not only improve customer satisfaction but also reduce potential disruptions in services that enterprises rely on for their operations.
"Our research makes clear that, too often, CSPs aren't meeting enterprises' expectations around customer experience," said Gil Rosen, Chief Marketing Officer at Amdocs. "Such shortcomings could prove costly. Executing across all five stages of the enterprise customer lifecycle and ensuring an exceptional end-to-end journey will open the door to growth, enabling CSPs to drive new revenues, grow market share and build lasting relationships with enterprise customers."
The findings of this comprehensive study provide insights into the evolving dynamics between enterprises and CSPs. By capitalizing on their understanding of enterprise communication needs and addressing challenges in service delivery, CSPs can foster long-lasting partnerships and drive growth by offering additional value-added services.
Edited by
Alex Passett
