Last week, Twimbit and F5 assembled 25 leaders across two cities in two roundtables to discuss the future of the telecommunications industry. The group was appointed as the board of directors of a fictional telco, and challenged to define the "Measures of Success" for this board and CEO as they build the TechCo of tomorrow.
The diversity of experiences from multiple continents and across fixed, mobile, enterprise and consumer markets helped to create a compelling document. Here are the eight critical requirements for every board and CEO:
1. Establish with clarity the vision as a TechCo and its implication on each segment of the business.What are the unique capabilities that a TechCo can offer? How will this impact the enterprise, consumer and wholesale segments of the business?
2. Reduce cost to serve by 50 percent over 3 years.This is a bold goal, but it is essential for a TechCo to remain competitive. How can the company reduce costs without sacrificing quality?
3. Realign the IT budget towards innovation projects.In today's rapidly changing world, innovation is essential for survival. Ideally achieve an equal split between innovation and maintenance.
4. Build a talent pool that is 50/50 innovation and maintenance.The company needs to have the right mix of people with the skills and experience to drive innovation and maintain the existing infrastructure.
5. Generate 30 percent of revenue from non-connectivity services.The company needs to diversify its revenue streams beyond connectivity. Asia Pacific average today is 20 percent.
6. Ensure enterprise non-connectivity 50 percent of enterprise business.The enterprise market is a major opportunity for growth.
7. Launch new services in 2 months or less.The company needs to be agile and responsive to market changes. How can it accelerate the launch of new services?
8. Generate 10-15 percent of revenue from services launched less than 5 years ago.The company needs to be constantly innovating and launching new services. How can it ensure that these new services are successful?
These are just some of the critical requirements for a successful TechCo. The specific requirements will vary depending on the company's unique circumstances. However, these eight requirements provide a good starting point for any TechCo that wants to succeed in the future.
Thank you to the honorary board members for their insights and contributions.