Growing Workforce, Increasing Options, Shifting Requirements, OH MY!
The world of telecom is in a constant state of growth and change, but in the last few years, the rate of change has increased exponentially. Perpetuated by four trends: the increased importance of telecom; network growth and diversification; workforce growth, diversification and expectations; and shifting internal requirements, companies are tasked with understanding these trends and overcoming the challenges they present.
Trend 1 | Increased Importance of Telecom
Telecom is more than merely a business expense, it is a necessity of any high-performing business. When managed effectively, telecom enables businesses to operate efficiently and drive growth. As businesses across the world embrace globalization, they need to ensure they have the right technology, for the right people and locations, at the right price.
Trend 2 | Network Growth and Diversification
The Internet of Things (IoT) is growing at an unprecedented rate. Boston Consulting Group predicts that by 2020, $267 billion will be spent on IoT technologies, products and services, and many analysts predict that by that same year, the number of connected devices will exceed 50 billion. This trend is being felt in organizations large and small, as they experience massive growth and diversification in their IT infrastructure and what that infrastructure must support.
Networks have grown from simple fixed networks with landlines, to add wireless networks with cell phones and hotspots, and continues to grow with cloud-based services like voice over internet, point-of-sale wireless device use and much, much more.
For example, retailers have ditched dated technology to complete transactions and track inventory via mobile devices. Telecom portfolios look drastically different than they did 20, 10 and even five years ago, presenting major challenges to IT managers that are looking to manage the operations of their network while deploying the best technology, and finance managers looking to manage more complex expenses.
Trend 3 | Workforce Growth, Diversification, and Expectation
Since the start of the 21st century, there’s been a growing expectation from employees to have more flexibility in their work environment, while maintaining the same level of connection and collaboration with their teams. Basically, employees want to work from anywhere, with the option to be connected 24/7 via a variety of channels. Ask almost any workforce analyst why this is the case, and commonly you’ll get an answer pointing back to Millennials. The earliest Millennials entered the workforce in the mid-90s and according to the PEW Research Center, as of 2016, Millennials are currently the largest generation in the U.S. labor force. With Wi-Fi, smartphones and social networks at their fingertips since adolescence or even birth, their expectation of how they get work done is vastly different than past generations. Centralized offices, dated technology platforms and endless emails don’t align with their values, approach or vision of an effective work environment. It’s no wonder, then, that this generation has had a massive impact on IT networks and how companies operate day-to-day.
Trend 4 | Shifting Internal Requirements
As the workforce grows and diversifies, and as new technologies emerge into the market, internal requirements become a moving target. Not just year-to-year, or month-to-month, but week-to-week and day-to-day. For IT managers who are trying to keep their networks running smoothly, they must anticipate these changes and be nimble enough to evolve quickly when they come.
Across these four trends, the disruption they’re producing and the resulting challenges are vast. Whether you’re in finance managing the expenses, or you’re in IT running the network, you’re feeling the effects. But understanding these trends and their effects on your program, keeping a pulse on what’s happening in the market and within your organization, and identifying partners to support in solving both the near-term and long-term problems, is key.
Telecom Lifecycle Management (TLM) is a holistic and strategic approach to managing your telecom program. It covers vital tasks from creating and implementing a strategic procurement program across fixed and wireless networks, to continuously auditing services and having a clear view into inventory, to paying bills on time and understanding where there’s opportunity to reduce costs, and so much more. ENGIE Insight’s TLM solution includes three primary components that alleviate the challenges of managing telecom and delivers savings to your bottom line. For example, GameStop embraced a fully-implemented TLM environment, saving in excess of $4 million in just three years. To discuss your own challenges and learn how a TLM solution could benefit your business, contact us today.