Survey of nearly 350 enterprises reveals communications service providers are well positioned to build partnerships and grow revenues in areas such as e-commerce, cybersecurity and managed IoT, but need to provide a consistent customer experience and tackle shortcomings in service delivery
JERSEY CITY, NJ / ACCESSWIRE / June 1, 2023 / Communications service providers (CSPs) can unlock growth opportunities in the enterprise market by addressing gaps in delivery and ensuring levels of customer service don't decline after the initial sale and setup phase, according to new research conducted by analyst firm GlobalData on behalf of Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies.
The Every Move Counts: Enterprise Lessons and Growth Opportunities report found that CSPs outperform other ecosystem players when it comes to understanding and meeting enterprises' unique communications needs, with nearly half (43%) of respondents satisfied with their CSP in this regard. CSPs are also the least likely to be dropped from an enterprise's partner ecosystem.
The findings also indicate that the trust and value placed in CSPs by enterprises can be leveraged to increase revenues outside core communications services, for example through the provision of digital/e-commerce services and network-based value-added services such as cybersecurity and managed IoT.
The research, which gathered responses from decision makers at enterprises of different sizes across North America, Asia-Pacific and Europe, identified five distinct stages of the enterprise customer service lifecycle:
- Service exploration
- Provisioning and implementation
- Service performance
- Ongoing maintenance and support
Provisioning and implementation - including service orchestration, user/system setup and integration with existing infrastructure -was found to be the most crucial, with 35% of enterprises saying this stage had the greatest impact on their buying experience. Enterprises, however, attached importance to all five stages, underlining the need to take a holistic approach to service delivery and provide an excellent end-to-end enterprise customer experience.
Demonstrating the scale of the challenge, 38% of enterprises said CSPs had failed to deliver on their contracted service at least three times over the past year.
"Our research makes clear that, too often, CSPs aren't meeting enterprises' expectations around customer experience," said Gil Rosen, Chief Marketing Officer at Amdocs. "Such shortcomings could prove costly, with 59% of enterprises stating that incorrect service delivery would prompt them to switch provider, making this the main reason for churn followed by late service delivery (52%). Executing across all five stages of the enterprise customer lifecycle and ensuring an exceptional end-to-end journey will open the door to growth, enabling CSPs to drive new revenues, grow market share and build lasting relationships with enterprise customers."
"To compete against the myriad competitors offering IT and telecommunications solutions to enterprise customers, CSPs must offer a compelling portfolio, but also deliver an excellent experience at every stage of the customer journey," said Andy Hicks, Senior Principal Analyst at GlobalData. "They should invest according to customer requirements and pain points, and develop the ability to reliably and proactively address enterprise needs."
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Amdocs helps those who build the future to make it amazing. With our market-leading portfolio of software products and services, we unlock our customers' innovative potential, empowering them to provide next-generation communication and media experiences for both the individual end user and enterprise customers. Our 31,000 employees around the globe are here to accelerate service providers' migration to the cloud, enable them to differentiate in the 5G era, and digitalize and automate their operations. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.58 billion in fiscal 2022. For more information, visit www.amdocs.com
Amdocs' Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macro-economic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other global or regional events such as the COVID-19 pandemic, as well as the current inflationary environment, and the effects of these conditions on the company's clients' businesses and levels of business activity, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2022 filed on December 13, 2022 and our Form 6-K furnished for the first quarter of fiscal 2023 on February 13, 2023, and for the second quarter of fiscal 2022 on May 25, 2023.
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SOURCE: Amdocs Management Limited