Differentiation through Contextualization is the need of the hour for CSPs
The telecommunications market has been transformed in the past decade by the commoditization of products, a proliferation of technologies, shortened launch cycles, and an increase in customer experience expectations.
While adopting new technologies, managing scalability and assuring rapid time to market remain key challenges for industry providers, telecommunication companies also need to possess a comprehensive Contextualization Capability in order to deliver a differentiated E2E solution. Currently, other industries such as banks, insurance and travel that offer a personalized experience are setting the benchmark and driving expectations on similar lines.
The key challenges that CSPs are facing today are:
- Siloed approach to offering products & services across channels
- Poor alignment between sales, technical & commercial catalogue
- Product life cycle management is largely manual with limited e2e governance
- Technology/data model constraints impeding reusability, configurability and leading to excessive variants and pricelists
- Long lead time in introducing new features
- Poor integration with partners’ products and services
- Limited to no integration of customer segmentation and product & service offerings
- Constrained to adopt standardization of products & services to reduce costs and drive consistency which suggests adopting a contradictory position to that of contextualization.
Contextual Real Time Offers
VirtusaPolaris consulting framework and methodologies can help in engaging with business, product, marketing, IT and operations stakeholders to assess the current state and recommend a plan to simplify the IT estate and optimize the current product & services to deliver a strategic contextual real time solution aligned to organization objectives.
VirtusaPolaris’ Contextual Real Time Offers (CRTO) delivers a comprehensive contextualization capability that includes dynamic product catalogue, BSS adapters, supplier integration & analytics.
- Dynamic product catalogue
- Hierarchical product model to support simpler to complex product structures
- Modular approach supporting inheritance capabilities as per demand
- Rule based platform supporting eligibility, orchestration, pricing, personalization etc.
- BSS adapters - Provides pre-built capabilities to update CRM, Billing & Inventory records post successful provision of CSPs and partners’ products and services
- Supplier integration - Seamless integration of CSP products & services and supplier Value Added Services (VAS) enabling recommendation & provisioning of contextual bundles based on customer segmentation. Also enables CSPs to operate on various business models (i.e. subscription, one time change and on-demand)
- Analytics – The solution will monitor the real time transactions (activities, orders and bills) of the customer to provide an insight on the customer segment
Features & Benefits
- Enhances the customer experience by delivering offers customized to Enterprise, SME and other market segments
- Increases offer uptake by up to 75%
- Improves cross-sell and up-sell opportunities by 10-15%
- Reduces churn rate by up to 8.5%
- Reduces time to market for new products & bundles by 30-40%%
- Ensures adherence to defined business rules and available products & bundles by market and geography
- Accurately synchronizes product/offer information in downstream BSS and OSS systems
- Uses a flexible data model that supports regional variants
- Includes a modular extensible framework - minimal need for new development to add products & offers
- Data-driven architecture reduces total IT cost of ownership by up to 30%
- Centralized convergent suite & product hub ensures a consistent cross-channel customer experience & governance
- Increases capacity to support changing customer needs & complex propositions
- Facilitates standardization of modular & reusable business processes speeding the launch of next generation products & bundles