Tuesday, November 07, 2006

No time for evolution in telecommunications

No time for evolution in telecommunications

Only revolutions need apply

There is a revolution taking place in the telecom industry. Not an evolution - we don't have that much time. Today, a dynamic shift is being driven by technological advances that, in turn, drive a convergence of many formerly discreet industries into one; that, in turn, create hyper-competition among long established and brand new companies; that, in turn, reward retailers that can form alliances with the value chain.

Consumers and businesses are changing their demands for products and services far faster than any market research could fathom. They are empowered by information. They devour it and need constant access to it.

The telecommunications industry is not for the faint of heart. Businesses that are committed to winning will be rewarded if they have the ability to change and adapt to consumer preferences and are willing to cross pollinate with industry newcomers.

The changes the industry is experiencing each year seem to be as great as the previous five years combined. A decade ago, we thought the industry was made up of telephone companies, cable companies, long-distance providers, and the manufacturers selling their products to both end users and service providers. Back then, we were just beginning to recognize cellular companies as a complement to telephone service.

Exciting times

One thing is for certain, the next decade in the telecom industry will be the most exciting ever by a wide margin. New leaders will emerge, trusted leaders will guide the way, and businesses will look different in the end. However, the strength still lies with the customer and the companies that can meet their demands day in and day out with solid customer service and valued products will win.

As consumers work harder to balance the rigors of work, school, volunteerism, and family obligations, the companies who develop telecommunications solutions to drive efficiencies will persevere. I'm confident Prepaid Cellular Services & Bill Payment Services Money Solutions will continue to respond to these changing dynamics as we move forward and take part in the telecommunications revolution.

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