Amsterdam / London, June 27, 2019 –BearingPoint today launched new research conducted by BearingPoint//Beyond, its digital platform solution unit, that validates the multi-trillion-dollar enterprise ICT sales opportunity facing Communication Service Providers (CSPs). The study surveyed 250 decision makers in enterprises in Europe, Asia and the USA, and found that 97 percent of organizations were willing to purchase ICT services from CSPs. The study also investigated the approach and changes 100 CSPs are making to address this massive opportunity with their enterprise customers.
The research discovered that if CSPs are to successfully claim their share of a market estimated to be worth USD$3.6 trillion by 20221, they must re-align their investment strategies and offer reassurance to enterprises that they will accelerate innovation and speed to market, invest in better understanding their customers’ business needs and improve collaboration with other valued partners.
Enterprise IT spending is huge, growing fast, and one of the last untapped growth engines for CSPs in saturated markets. Enterprise will be pivotal to 5G and IoT. The research makes for positive reading in the main – there is an obvious opportunity for CSPs to capitalize on - but there are obstacles they must overcome. Among them, they must prioritize investment in enterprise, junk overly bureaucratic legacy processes and policies that slow them down and commit to understanding and engaging with enterprise customers differently. Critically, CSPs must act quickly – if not, they stand to lose out to more agile and open competitors.
Angus Ward, CEO BearingPoint//Beyond
The study identifies six critical areas of improvement for CSPs, the more prominent three are:
CSPs must make some tough decisions. 5G’s arrival in the next year or so means they have to make the enterprise segment their top priority and allocate the necessary resources to support it - even at the expense of their consumer businesses. CSPs are already losing enterprise business to more agile digital players. This trend will continue unless they act now. They must abandon traditional, restrictive product development and replace it with leaner, more agile operations that encourage innovation, speed and experimentation. CSPs need to significantly improve their understanding of enterprise customers and the industries in which they operate, in order to become legitimate partners. The goal for CSPs must be to become the orchestrators of diverse technologies and third-party solutions that fulfil the varying technology needs of different enterprises. Partnerships and, in particular, ecosystems plug CSP knowledge, technology and solutions gaps, and also encourage fresh ideas and new ways of thinking.
Angus Ward, CEO BearingPoint//Beyond
To download a free copy, please visit “Mind the gaps: six reasons why CSPs could miss out on the multi-trillion-dollar enterprise IT opportunity”.
1Gartner [Enterprise IT Spending by Vertical Industry Market, Worldwide]
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in four units: Consulting, Solutions, Business Services, and Ventures. Consulting covers the advisory business; Solutions provides the tools for successful digital transformation, advanced analytics and regulatory requirements; Business Services provides managed services beyond SaaS; Ventures drives the financing and development of start-ups. BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 75 countries, engaging with them to achieve measurable and sustainable success.
BearingPoint//Beyond is a solution unit of BearingPoint, focused on helping organizations reinvent their business model and grow their revenue by utilizing digital platforms.
For more information, please visit:
BearingPoint//Beyond homepage: www.bearingpointbeyond.com
Annual Report: https://www.bearingpoint.com/en/about-us/annual-report/
Alex Sowden or Hannah Davies
Tel.: + 44 (0)203 906 6192
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