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KPMG Finds Telecom Industry Facing Tough Challenges Ahead
August 18, 2012
By Kalen Smith, Big4 Blogger
A new report from KPMG has shown that the telecom industry is starting to slow down. Telecom companies have been providing services for decades and have already saturated the market. Additionally, they face increased competition from other technology providers offering more state-of-the-art solutions.
KPMG said that companies will need to deliver higher quality solutions in order to retain their existing customers and encourage more growth in the coming years. Their best opportunity will be offering higher quality customer service to their patrons, KPMG said.
Johan Smith is KPMG’s director of ATG. Smith said that telecom companies have come to realize the value that improving customer satisfaction is the most important way to retain their customers.
Joaquim Ribeiro agrees that improving customer satisfaction is important, but will need to be strategic with how they improve customer service. Ribeiro said that many companies are investing much more helping their customers, but without a noticeable improvement in customer satisfaction.
Telecom companies are also looking for other approaches. These include investing in more innovative technology and improving infrastructure. They will need to continue to develop new products and services if they intend to grow their market in the coming years.