Every communications service provider wonders if their product management is being optimized. You’re not alone. We surveyed CSPs around the globe and found that some CSPs are more satisfied than others with various parts of their product lifecycle management. Here’s what we found:
- 6 out of 10 CSPs are most satisfied with their monitoring of product performance
- But only 2 out of 10 are satisfied with the amount of time it takes them to launch new products
- 34% of CSPs are satisfied with the volume of products they launch
As for the 66% that are not satisfied with product volume: it’s not due to lack of productivity or innovation. Just under half of their viable product ideas come to fruition.
See figure 8 below for the full survey results:
- Surprisingly, the level of satisfaction a CSP feels does not correlate to how advanced they really are.
- Lack of PLM efficiency, more than lack of innovation or anything else, leads to unlaunched products and massive opportunity cost. (see figure 10 below)
- There’s some pretty wide gaps in performance: 6% of CSPs launch 80-100% of viable products, while an unlucky 9% launch less than 20% of their viable product ideas. This 9% will need to improve their PLM to compete, but fortunately the top 6% has already showed them the way with some best practices to adopt.
- An investment in PLM is well worth it. Even a modest improvement in product performance would more than pat for the cost of overhauling the PLM process.
Stay tuned for our next blog to learn about PLM satisfaction according to region and download our whitepaper.