Digital Transformation in Communications Industry Not Happening Fast Enough, Major Global Study Finds
IDC Survey* Highlights Lack of Digital Strategy and Skills Among Service Providers; Closer Engagement With Professional Services Vendors With Broad, Best-of-Suite Solution Portfolios Seen as Essential
ST. LOUIS, Feb. 11, 2016 (GLOBE NEWSWIRE) -- Amdocs (Nasdaq:DOX), the leading provider of customer experience solutions, today unveiled a new global survey conducted for Amdocs by top analyst firm IDC showing that service providers believe they are not transforming fast enough to meet the demands of today’s digital era. According to the survey, 50 percent of C-level and other service provider decision makers predict that it will take their companies more than five years to transform. This is not fast enough according to 64 percent of respondents who believe that the communications industry will be outpaced by other industries.
Additional key findings include:
“The majority of service providers today are actively working to deploy digital technologies to improve their businesses, but this is happening without a unifying top-level vision and strategy. They are also telling us they are struggling to re-align processes and re-train staff at the same time, further delaying real business outcomes,” said Andy Hicks, research director, Telecoms and Networking, EMEA at IDC. “They may be able to keep up with other service providers, but they don't think they can keep up in the broader digital world unless they address gaps in digital strategy, skills and leadership. Our research suggests they will source professional services to bridge some of these gaps.”
“Digital transformation is a critical enabler for capturing digital age opportunities and delivering The New World of Customer Experience. As digital transformation is made up of multiple projects and initiatives, it’s clear from this research that companies fear timelines are slipping, and that they have serious concerns as to whether they have enough strategic focus and digital skills to transform fast enough,” said Eric Updyke, group president of System Integration and Operations at Amdocs. “This is where a partner who brings the right digital skills, expertise, and solutions can come in to support current and new leadership and their IT and business teams to create and execute digital transformation strategies faster. At Amdocs, we are helping our customers accelerate their journey to become digital service providers with a broad range of industry-specific offerings spanning services and tightly integrated software solutions, innovation with our partner ecosystem including digital domain experts, and global business process best practices to simplify the complexity involved.”
The study surveyed decision makers at 81 service providers operating in Asia Pacific (26 percent), Europe (25 percent), Latin America (23 percent) and North America (26 percent). Nearly half of the respondents (46 percent) hold C-level roles.
* IDC study for Amdocs conducted Dec 2015 – Jan 2016
Amdocs is the market leader in customer experience software solutions and services for the world’s largest communications, entertainment and media service providers. Our portfolio powers The New World of Customer Experience™, where a wide array of innovative and personalized services are delivered seamlessly to end users, regardless of device or network. For more than 30 years, Amdocs solutions, which include BSS, OSS, network control and optimization, coupled with our professional and managed services, have accelerated business value for our customers by streamlining complex operating environments, reducing costs and speeding time to market for new products and services. Amdocs and our more than 24,000 employees serve customers in over 90 countries. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $3.6 billion in fiscal 2015.
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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. 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 economic conditions, 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, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2015 filed on December 10, 2015.
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