The global telecoms market is always changing. For enterprises that operate on a global scale, overseeing and managing your telecoms estate can be difficult without an in-depth understanding of the market. Our new insight explores the challenges that you might face.
The Changing Global Telecoms Market
It's predicted that the global telecoms market will expand at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028. This is due to a myriad of factors; increased reliance on telecoms due to the COVID-19 pandemic, consumer demand for new technology, and growing infrastructures, to name a few.
For example, developments in 5G are now considered a critical strategic interest in some national markets. Demand for 5G doesn't stop at the consumer's endless desire to consume more data at faster speeds, the availability of ultra low latency, enhanced network capacity and increased bandwidth mean 5G can impact and change how people live and work all over the world.
What Challenges Do Enterprises Face?
Enterprises must keep up with the change of pace within the global telecoms market. However, without telecom expense management, many businesses don't have the visibility and skills they need to manage their telecoms costs.
Lack of internal expertise, resources, and regional knowledge are all barriers to getting the most from your telecoms. This makes it easy to lose control of your telecom spend, especially in a complex and growing global market. If you want to effectively manage the entire communications lifecycle, get devices in the hands of end-users fast, and minimize costs – you need to optimize your methods of telecom expense management.
Here are some of the most common challenges for enterprises:
Local Understanding
Global organizations have teams all over the world. However, if your internal teams need to dispute telecom billings or talk to an end-user in another country, it can become complex. Time zones, language barriers, and cultural understanding can slow down the process of managing your telecoms, with greater room for error.
Currency
Understanding the correct terms and rates of your telecoms can be difficult if you don't understand the regional currency. Are your internal teams confident they are getting the best deals or the best value from a telecom contract without vital in-region knowledge?
Compliance
If your telecom infrastructure spans multiple countries, you must ensure compliance with country-specific privacy laws. Not doing so could have costly implications for a large, global business.
Telecom Inventory Management
You need real-time data to achieve an accurate view of your telecom inventory. Especially if your enterprise operates on a global scale. You also need to track MACD activity if you want to spot every savings opportunity - meaning you could be missing out.
Choice of Telecom Provider
Choosing telecom providers can be a challenge, especially if your teams have limited knowledge of a country. It can become difficult to create a global agreement with one, or two, providers without central visibility of your telecoms data, and the resources to do so.
Read Our Free Insight: How Complex is Global Telecoms?
To regain control of your enterprise telecom costs, you must first understand the challenges of global telecom management in 2021. Our new insight includes a global overview of the current telecoms market, and how you can overcome its complexity. See how complex global telecoms is today.
