We outline benefits and challenges of enterprise asset management implementation, and how the Internet of Things offers a wave of opportunity for telecommunications.
Enterprise asset management
M2M in China
Decoding mobile financial services
Sharpening revenue assurance in the digital space
Top 10 risks in telecommunications revisited
Capital Confidence Barometer, June 2016: Telecommunication | 14th edition
Effects of IASB’s new leases standard on telecoms
Inside Telecommunications - Issue 17
Global telecoms digital playbook
Telecommunications: transforming our society
Telecommunications operators are mastering the demands of technological and regulatory changes while illustrating transparency, customer innovation and bringing new services to the market. Are you keeping up? Whether your goals consist of adjusting your business model or boosting your market share, we deliver on our promises so you can be at the forefront of change.
Tap into our industry-focused knowledge on emerging and expanding telecom issues:
- The growth in mobile money
As the telecommunications sector turns to a new growth agenda, mobile money services are becoming more important than ever.
The acceleration of mobile remittance services alongside new mobile payments highlights the opportunities for the mobile phone to redefine the movement of money by:
- Lowering costs
- Increasing convenience
- Reducing fraud
Interestingly, many of the most successful services worldwide have originated in developed Asia, where mobile contactless services are well established, alongside money transfer services in emerging markets such as the Philippines and Kenya.
However, opportunities have yet to be uncovered in many developed markets, where financial inclusion is higher and where there is a greater diversity of existing payments channels.
Ultimately, flexibility in terms of policy approach, customer proposition and stakeholder management, should be top of mind for all players as the handset catalyzes a more efficient customer payments experience, and one that brings with it greater advantages in terms of information richness and location sensitivity.
Discover how we can help you lay the groundwork for tomorrow’s mobile money solutions.
- The need for data privacy and security is growing
Privacy remains a significant issue for many telecommunications operators and poses ever-increasing challenges. This should come as no surprise; operators capture and hold enormous amounts of data on their customers.
Factors such as new services, the continued digitization of information, as well as more accessible and ever cheaper digital storage, have only increased (and will continue to increase) the amount and level of sensitivity of the personal data operators accumulate.
More generally, as operators invest in building deeper two-way customer relationships, their growing dependency on customer data will increase the associated risks. Efforts to limit illegal file sharing are under way in many countries, yet the range of stakeholders involved means that debate often continues at the expense of policy consensus.
Operators should work closely with governments to clarify their responsibilities in areas such as anti-terrorism and content for children, and collaborate with suppliers and partners to tackle privacy and security issues in new service areas such as cloud security and mobile apps.
Our approach, grounded in industry-specific experience and committed to delivering measurable, sustainable results, can help you adapt and succeed.
- An industry in transformation
The telecom industry is transforming before our very eyes. And in many instances, there are no hard set rules for the new digital platforms, tools and lifecycle in which they live.
In this industry more than any other, therefore, embracing a strategic, forward-looking business model is critical to survival and success. The transformation that has gripped the landscape presents you with challenges, risks and opportunities as never before.
With continued pressure from new players entering the market, operators must continually find ways to stay ahead of the game. Strategies include investment in next-generation technologies and alternative network sourcing arrangements.
- Managing risks and seizing the opportunities
Despite, or in some cases, because of the continuing uncertainty and volatility in the global economy, there are major opportunities for telecom operators. Each company’s ability to identify and seize these opportunities depends critically on its ability to understand and manage risk. Unless your growth strategy has a solid underpinning of risk management, it will never be truly sustainable.
There are new opportunities emerging, provided companies are willing to take those risks and make the bold strategic choices that are required.
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Our bimonthly publication addresses key industry topics and their impact on IFRS reports.
EY’s Holger Forst discusses the impact of the new revenue recognition standard and why this is a C-suite level imperative.
If you’d like to learn more about revenue recognition, you can watch the on-demand webcast.