Singapore telcos expect partner ecosystem boom
Half of communications service providers in Singapore expect to improve revenue by at least 16% in just two years by leveraging partner ecosystems, according to a new study from BearingPoint.
Over 80% believe that partner ecosystems can help them remain competitive and 70% expect that ecosystems can improve the customer experience.
But most operators are yet to embark on the execution of ecosystem strategies due to a series of technological challenges, including lacking the right technology in place to manage monetization across the partner ecosystem.
Other significant challenges include overcoming complex IT environments that may not be able to support minimum viable products and having the right technology to manage the partner ecosystem.
Only 30% of operators in Singapore have embarked on partner system execution, while 40% are about to do so, 10% are analyzing their options and 20% are at the very start of their journey, the survey found.
“Based on our research, companies leveraging digital platform-based business models have already doubled their growth rate compared to businesses that have stayed stagnant in their CSP transformation efforts,” BearingPoint Asia Pacific senior representative Dr Chris Stephenson said.
“That only a fifth of CSPs appear to be in the initial stage is a matter of concern. A lot of CSPs today continue to rely on rapid product commoditization rather than proactively taking steps to create new more compelling products that will drive profits now and in the future.”
Quah Mei Lee / Frost & Sullivan
But this will require mobile payments solutions that truly disrupt the payments ecosystem