CSG Systems International, Inc. ( NASDAQ: CSGS), a global provider of software- and services-based business support solutions that help clients generate revenue and maximize customer relationships, collaborated with STL Partners, founders of the Telco 2.0 Initiative and Digital Entertainment 2.0 Initiative, to successfully produce and present the New Digital Economics Executive Brainstorm 2011 in Singapore recently. This is the first-ever event of its kind in the Asia-Pacific region (APAC).
Co-located with CSG’s APAC Executive Forum, the ‘executive brainstorming format’ of the New Digital Economics & CSG APAC Executive Forum 2011 looked at telcos’ strategic options, the future of the core communications products telcos rely on for much of their revenue, and how they can improve customer experience both to reduce churn and attract new customers in the telecommunications, media and technology sectors.
The two-day event enabled over 100 invited senior executives from across the communications, media, banking and technology sectors to focus on strategies that accelerate new growth opportunities and business model innovation using the unique ‘Mindshare’ interactive format. Also included in the event was an Innovators Showcase by CSG, bringing to life some of the concepts under discussion.
Some of the preliminary key findings from the brainstorm include:
- 84% of APAC participants believed that ‘Telco 2.0’ strategies – leveraging assets to create new B2B and B2C services and more sustainable business models - were either already important or would soon be important to their organization.
- APAC delegates believe that more operators will be successful with Telco 2.0 ‘Full Service’ Strategies/Smart Services – which create more sophisticated platforms for ‘two-sided’ business models.
- Innovation in two-sided business model is still in its nascent stage. Investors still eye telco innovation with some suspicion. There is significant room for telcos to make changes in such a way that they enable new business models.