Although digital transformation has advanced the telecom industry in ways we couldn’t imagine even a decade ago, the pain points of this same transformation continue to grow.
Configure, price, and quote (CPQ) software has helped sellers quote complex and configurable products, automating and optimizing the selling process along the way. Accompanying this incredible advancement are long-standing problems experienced by many professionals in the telecom industry, and these issues have continued as telecom infrastructure becomes more complex.
In order to keep pace with customer expectations and manage complex tasks, new IT telecom solutions that use an algorithmic and rules-based approach are entering the market to make processes simpler.
In this blog post, we’ll touch on some of the most common pain points experienced by telecom professionals and how IT telecom solutions are addressing these pressing challenges.
The Most Common Pain Points in Telecom
When our customers come to us looking for a solution, many of their pain points are focused on two primary areas: data and tooling:
- Most of them are receiving plenty of data but aren’t managing that data properly.
- All of them utilize software to manage the data, but that software either isn’t intuitive or isn't providing the services they actually need.
Let’s dive a bit deeper into these pain points:
1. Inconsistent data is managed differently across departments.
One of the biggest challenges telecom sellers face is the lack of centralized data. Without a single source of truth, sellers are looking at an incomplete data picture, putting the customer at risk of purchasing connectivity that isn’t what they need.
2. Current tooling is either difficult to use or lacks UX principles.
Every telecom company uses some form of data collection and retention software, and several others likely have some type of tooling that assists with gaining insight into the types of connectivities available.
However, tooling designed with the user in mind is becoming increasingly more important. High-level tooling is no longer for just data analysts—they need to be responsive, easy to use, and functional for all users.
3. Companies feel stuck with a lack of resources.
Whether companies have limited resources or the wrong tools for efficient integrations with helpful IT telecom solutions, it takes a lot of time and energy to manage these challenges.
It can also become expensive to use each of these tools, which means companies need to implement a solution that encompasses the services of multiple tools or allows for easy integrations.
How CPQ Technologies Address These Pain Points
As mentioned, many of the pain points experienced by telecom professionals are due to either a lack of data, misuse of data, or utilizing the wrong resources.
With this in mind, here is how CPQ technologies resolve these issues:
1. Algorithmic solutions optimize the research process.
Telecom companies using a manual CPQ process are often wasting time and resources only to experience inefficient pricing and insufficient service packages.
With algorithmic CPQ services, sales agents and the telecom companies they serve are able to create fair pricing optimized for both close rates and profitability.
Additionally, algorithmic IT telecom solutions can ensure that customers have quotes that are tailored to their service requirements as opposed to generic service offerings.
2. Data is aggregated across all sales activities.
Modern telecom sales solutions aggregate disparate public and private data streams to centralize data into one place. This improves evaluating serviceability and challenges related to lead engagement, service packaging, and other pain points.
Data aggregation provides users with:
- The ability to build comprehensive solutions in a single step rather than several
- Reduced quoting intervals from hours or days to a few minutes
- Real-time assessment of third-party supplier data
- Removed manual processes that often take a significant amount of time
3. Research tools are data-driven.
Ultimately, the CPQ process is intended to bring value to both the provider and the customer.
In the past, manual serviceability research created labor-intensive processes that resulted in unreliable, incomplete, or out-of-date data. With modern serviceability research tools, these issues are addressed by combining public and private datasets to improve data accuracy.
Automation has played a significant role in performing this research faster than ever before. This has helped telecom businesses deliver a consistent, satisfying customer experience for potential customers.
4. Automation cuts down corrupt time.
When a sales agent is stuck dealing with proposals, paperwork, and other administrative tasks, they aren’t focused on selling. A CPQ solution cuts down on—or in some cases completely cuts out—the administrative work that has created corrupt time for sales departments.
Automate Your CPQ Process with MasterStream ERP
Innovative digital technologies are disrupting the telecom industry all the time. Don’t fall behind and let your CPQ telecom problems pile up.
By implementing MasterStream ERP into your operations, you’ll have the tools to overcome major obstacles and capture new sales opportunities with:
- An automated research process
- Aggregated data across all sales activities
- Data-driven decision-making
- Reduced corrupt time
Don’t wait a minute more—request a demo of MasterStream ERP today!