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CSG and Analysys Mason Study Reveals Growth Opportunities and Potential Pitfalls Facing Communications Service Providers Post COVID-19

·5-min read

DGAP-News: CSG
08.07.2021 / 14:30
The issuer is solely responsible for the content of this announcement.

DENVER, July 8, 2021 - CSG(R) (NASDAQ: CSGS) and Analysys Mason today released the results from their research collaboration examining how well-positioned communications service providers (CSPs) are to meet future enterprise demand for communications and IT services post COVID-19. Key to the report was the finding that a significant 80+% of the largest global enterprises surveyed will consider buying edge, 5G-slicing and private network services within the next five years. Though opportunities abound, disparities between CSP and enterprise views on the importance of technology solutions and billing and invoicing for supplier selection could lead many CSPs to fall short on capitalizing on the post-pandemic economy.

The report - Large Enterprises' Demand for Communications and IT services - surveyed 16 CSPs and more than 200 multinational corporations between February and May 2021. The report focused on three core areas: identifying changing patterns of enterprise demand for communications and IT services; the opportunity for CSPs; and the role of billing and invoicing.

Looking more closely at the findings, 92% of enterprise respondents have accelerated their plans to use more IoT, security, cloud and unified communication services. Though connectivity still accounts for the majority of current revenue for CSPs from large enterprises, cloud, security, edge and IoT services have come out on top as the main drivers of future revenue growth. In fact, 66% of enterprises surveyed expect to increase cloud services spending in the next 12 months, reflecting the growing importance of the cloud for business continuity.

'There is significant appetite among enterprises to buy additional IT services from their main communications provider,' said Catherine Hammond, principal analyst, Analysys Mason. 'Up to 50% of enterprises today say they already buy cloud, security and IoT services from their main CSP and another 30% would consider buying these services from their CSP in future. This poses an opportunity for CSPs to continue investing in leading edge technologies that not only broaden their portfolio but enable them to deliver a one-stop-shop to meet enterprise IT needs.'

'5G, cloud and IoT are disrupting the CSP market in profound ways,' said Ken Kennedy, COO and global head of revenue management and digital monetization for CSG. 'It's no longer purely about voice and data. Today's enterprises look to their communications provider to deliver a broad ecosystem of products and services that will allow them to unleash the full potential of their business. To deliver on this promise, CSPs need to modernize their technology stacks to create scalable processes that enable them to bring new products and services to market faster and lead to new revenue streams.'

Additional key report findings include:

For more insights into enterprise trends impacting CSPs and to view the full report, visit https://www.csgi.com/resources/large-enterprises-demand-for-communications-and-it-services-survey-results-2021/.

# # #

About CSG

For more than 35 years, CSG has simplified the complexity of business, delivering innovative customer engagement solutions that help companies acquire, monetize, engage and retain customers. Operating across more than 120 countries worldwide, CSG manages billions of critical customer interactions annually, and its award-winning suite of software and services allow companies across dozens of industries to tackle their biggest business challenges and thrive in an ever-changing marketplace. CSG is the trusted provider for driving digital innovation for hundreds of leading global brands, including Airtel Africa, América Móvil, AT&T, Charter Communications, Comcast, DISH, Formula 1, Hutchison 3 Indonesia, Inmarsat, Mastercard, Maximus, Microsoft, Mobily, MTN, New Leaf Service Contracts, State of California DMV, TalkTalk and Telstra. To learn more, visit our website at csgi.com and connect with us on LinkedIn and Twitter.

Copyright (c) 2021 CSG Systems International, Inc. and/or its affiliates ('CSG'). All rights reserved. CSG(R) is a registered trademark of CSG Systems International, Inc. All third-party trademarks, service marks, and/or product names which are referenced in this document are the property of their respective owners, and all rights therein are reserved.

Contacts:

Tammy Hovey

Global / North America / Asia-Pacific Public Relations

CSG

+1 (917) 520-2751

tammy.hovey@csgi.com

Kristine Østergaard

CSG

Europe / Middle East / Africa Public Relations

+44 (0)75 0051 8412

kristine.ostergaard@csgi.com

John Rea

Investor Relations

CSG

+1 (210) 687 4409

john.rea@csgi.com

Contact Details

CSG

Tammy Hovey

+1 917-520-2751

tammy.hovey@csgi.com

Company Website

https://www.csgi.com


News Source: News Direct


08.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

CSG

United States

ISIN:

US1263491094

EQS News ID:

1216865


 

End of News

DGAP News Service

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