As new technologies disrupt and transform telecom operations, the only constant in the world of telecom is ‘change’. For those that do not ‘change’ according to the changing requirements, the subscribers punish them by leaving their services.
Amongst the many transformations that are beckoning the telecom industry, IoT is definitely the biggest. IoT is a truly revolutionary tech with great potential and amazing forecasts. According to a survey, the number of IoT devices is anticipated to reach over 20 billion by the year 2020. Such a vast growth is expected to generate trillions in revenue for telcos that are teetering due to excessive competition from all fronts and need a respite in any form. But, a move to IoT does have its challenges that need to be addressed by telecom operators both big and small.
IoT Checklist to Beat the Challenges
- Proficiency in different verticals – For a telecom vendor to be successful in delivering IoT services, it is essential to have expertise in different verticals. As internet of things companies are required to provide services that cut across service level agreements, connectivity, telecom services, virtual cloud technology, QoS, and also vertical enablers; there is an exigent need for versatility. However, it can be very difficult for a single operator to manage everything, which is why; IoT necessitates a partnership with a capable IoT service enabler.
- Smooth and continuous customer experience – Customers of today are knowledgeable and want a secure, smooth and personalized experience while using digital offerings. The same is the case with IoT. A telecom operator can only expect to be successful in its IoT venture if it has the capability to roll out brand new services that meet the aforementioned criteria laid down for digital services. Also, the success of an IoT vendor depends on how fast it can bring the services to market. Beating the competition in service launch is an absolute necessity to assure consistently positive returns from an IoT venture.
- Vendor partnerships – An IoT development and services provider can put a telecom operator directly in touch with vendors with whom it has pre-existing partnerships. These partnerships are essential to meet the demands posed by IoT hardware and software requirements. An IoT venture requires access to connectivity equipment like: antennas, batteries, units with SIM cards, sensors, wireless monitoring cameras, payment terminals etc. Procuring all the equipment can leave an operator completely stretched, which is why; multiple vendor partnerships are needed. Accomplished IoT services providers can make partnerships simple and hassle-free for a new IoT operator.
- The right connectivity – One IoT business use case can be very different from another. While one may require the highest internet connectivity speed and low latency, another may require low-speed connection to prevent quick battery discharge of sensors. Also, in some scenarios e.g. an underground parking lot use case, you may require internet connection that can traverse through thick walls. High speed will be completely redundant in this scenario as for a parking process even a low-speed connection can work well. Therefore, it is essential to partner with a service provider that can offer IoT connectivity that is relevant to your particular business model and requirements.
- IoT transaction tracking and billing – With so many online interactions between so many different devices, tracking transactions and then billing the user accurately is extremely important. Also, modern-day customers do not want to pay any extra charge for the services they are using. Hence, the charging and billing platform that you are employing should be convergent and offer complete transparency in telecom billing.