Mumbai, Dublin – May 27, 2020 – Tech Mahindra Ltd. a leading provider of digital transformation, consulting and business reengineering services and Openet, a leader in the supply of digital business support system (BSS) solutions, today announced a global strategic partnership to enable digital transformation for customers globally. This partnership will leverage 5G and cloud technologies to accelerate digital transformation for communication service providers (CSPs).
As a global leader for CSP IT services, Tech Mahindra is the chosen transformation partner for many of the world’s leading CSPs, helping them transform their Business and Operation models to “Run- Better”, “Change Faster” and “Grow Greater”. Tech Mahindra sees a huge need to transform customer management and monetization platforms across CSPs as they get ready to create application aware networks and build new revenue lines in 5G and the post-COVID era. Tech Mahindra’s transformation services coupled with Openet’s best in breed BSS capabilities provides market leading capabilities to solve the most difficult monetisation, customer experience and commerce challenges that CSPs will encounter as they look to build profitability from 5G.
Manish Vyas, President, Communications, Media and Entertainment Business, and the CEO, Network Services, Tech Mahindra, said, “We have always been committed to build a robust set of strategic partners to deliver an enhanced experience to our customers. Openet is an important member of our ecosystem, we have already delivered several innovative solutions with them to CSPs of the world. Their software and our delivery models ensure exceptional outcomes to our customers. We are looking forward to rolling out this strategic partnership on a global basis. As a part of our TechMNxt charter, our focus is on providing solutions that enable digital transformation and meet the customers’ evolving and dynamic needs.”
5G is driving change for CSPs to upgrade their BSS systems. According to Chantel Cary, Senior Analyst at Omdia, and author of recent report IT Investment Essentials for 5G Monetization, “The ability to charge for 5G services is the single most important factor when it comes to monetizing 5G. However, existing charging systems are not up to par and must be upgraded to 5G-ready convergent charging systems.” However, the system change is not limited just to charging as Cary explains, “As CSPs invest in areas such as revenue management and policy control in their efforts to monetize 5G, they should also remember the value of customer management and engagement tools. Investing in improving the omnichannel customer experience and the customer lifecycle and in incorporating analytics into front-end systems can allow CSPs to maximize monetisation opportunities”.
The need for change is not just about having the ability to capitalise on new digital and 5G opportunities. John Abraham, Senior Analyst at Analysys Mason explained, “Upgrading BSS for digital and 5G services can help drive a lot of redundant costs out of a business. For example, around 65% to 70% of global revenue management system spend goes on support and maintenance of existing systems. Digital transformation and the introduction of 5G is a catalyst for systems change and as such presents a significant opportunity for service providers to cut a lot of legacy overheads and costs.”.
Niall Norton, CEO, Openet, said “We are very pleased and excited to formalise a global partnership with Tech Mahindra who we have worked closely with over many years to provide our joint solutions and services to CSPs. At Openet we made the investment to re-write our software to be cloud-native, open and digital several years ago. With this partnership, Openet and Tech Mahindra will be able to scale our collaboration, adding a few major CSPs to our client list as our solutions produce results that are driving change and growth in the telecoms industry. With this formal collaboration, we intend to add a lot more. I look forward to working with Tech Mahindra to accelerate this growth in our customers”.
As part of the TechMNxt charter, Tech Mahindra is committed towards creating a partner ecosystem to deliver enhanced cutting-edge, next-generation technologies like Cybersecurity, Artificial Intelligence, Blockchain, 5G, and Internet of Things, to disrupt and enable digital transformation for customers globally.
Headquartered in Ireland with operations across the globe, Openet is the leading independent software and services provider to communications companies. Our deep domain expertise & understanding of complex systems, underpinned by the tenacity and determination of our people, enable us to radically transform how our customers do business, providing best in class digital and 5G business support systems.
In an industry where the only constant is change, our open and innovative technology is built for change. For the last 20 years we have helped the world’s most innovative communications companies manage and monetise their business and evolve from communications companies to digital service providers. This gives our customers the power to enter new markets, open new revenue streams and increase profitability.
About Tech Mahindra
Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 5.2 billion company with 125,200+ professionals across 90 countries, helping 973 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is the highest ranked Non-U.S. company in the Forbes Global Digital 100 list (2018) and in the Forbes Fab 50 companies in Asia (2018).
We are part of the USD 21 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.
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For more information on Tech Mahindra, please contact:
Abhilasha Gupta, Global Corporate Communications and Public Affairs