For many of us, the way we communicate has evolved tremendously over the years. From landlines to mobile, snail mail to email, and face-to-face to face time, the transformation has been substantial. This disruptive technology is paving the way for new companies to develop and deliver new products and services to enhance the lives of consumers. It’s also becoming more important to pay attention to the future of technology and its impact on communications.
As personal communication transforms, the communications industry as a whole has seen some major shifts. According to Deloitte, the communications industry continues to be at “the epicenter for growth, innovation and disruption for virtually any industry.” This is because the way we connect directly impacts everything – from mobile, to wearables, to IoT, to Voice over Wi-Fi (VoWiFi) and so much more.
While it’s impossible to predict the future, here are three technologies carving a clear path to shape the future of communications:
IoT is the ability of a device to connect, collect and exchange data with other devices. Smart products are on the rise and soon enough, consumers will wonder how they ever lived without IoT products and services. IoT has truly opened the door for companies to develop new business models and push a technological revolution to the forefront. This increased connectivity represents a major opportunity for the businesses ready and able to handle its massive backoffice implications.
While IoT is presenting major opportunities for growth, the internet will remain as a key component of the communication landscape. As IoT grows, stability and speed will be a key driver for internet connectivity. 5th generation mobile networks will become the next standard in the communications industry. According to The Next Generation Mobile Networks Alliance, 5G should be rolled out by 2020.
Modern technology is changing the way businesses interact with their customers, as well as what consumers have come to expect from their service providers. From painless activation to streamlined management, new and highly accessible platforms are empowering end-users to take more control over their buying and billing experience. Whether you’re focused on client retention, winning multi-location customers or reducing churn, check out our recent whitepaper: “Is Your Billing System Ready for Modern Business?”
It means that in order to compete in this ever-evolving market, communications companies must make a choice: adapt or get left behind. With a mission to be the best back office company in the world, we are privileged to work alongside with leaders in the communication industry to prepare for the future. If you have questions about how we can help you stay ahead of the curve, contact Rev.io.