What Digital Transformation Looks Like for the Telco Industry

Digital transformation refers to many things, but when it comes to customer-facing processes it’s marked by a switch to paperless forms and contracts. New and improved systems and solutions are put into place with the overall goal of making processes simpler and easier for both the business and its customers. Aspects of digital transformation include eSignatures, eForms, ID verification, and more. The telecommunications industry is pushing for this transformation for a large-scale market change and worldwide digitization. Digital changes are driving a new reality that pushes the industry to face a quickly changing economic and competitive environment. But, the industry is facing large benefits as a result of the digital transformation.

What is Digital Transformation?

During a digital transformation, a business uses new digital technologies to create or change existing business procedures, culture, and customer experience. In turn, they are keeping up with the changing demands in the market. It is a very customer-focused process — one that is all about customer engagement during the transformation. There are various factors that go into a successful digital transformation. In order to completely get rid of endless paperwork, in-person visits, and tedious processes and transactions, there has to be a line of new solutions to replace it all. This is where Lightico’s eSignature, eForm, and ID verification tools come in. All of these solutions combined are what give telcos the extra push to transform.

Digital Transformation for Telcos

Telco companies that implement eSignature solutions have seen strong benefits that guide them to improve their customer experience and bottom line. On the surface, these solutions seem like one simple fix, but in reality, they are much more than that. The newer eSignature solutions have additional features such as eForms, photo ID verification, and visual order summaries. By implementing all of these features from one, single platform, telcos can:

• Increase ARPU & Upsell: Ease the customer buying process with in-call media sharing, so customers can instantly visualize devices, accessory options, plans and pricing.
• Simplify Compliance: Reduce AHT, simplify auditing, and improve customer experience by eliminating agent scripts and having instant acknowledgments of the offer summary and terms & conditions (T&C) with one click.
• Boost Compliance: Collect payment instantly via credit card with mobile-friendly, PCI compliant payment forms.
• Accelerate Contract Signups & Renewals: Make the new customer onboarding process easier with secure end-to-end contract management. Customers instantly complete their details with smart eForms, real-time approvals, and T&C acceptance with eSignatures.
• Legally recognized: eSignature solutions go beyond legal requirements like the ESIGN Act and the Uniform Electronic Transactions Act.
• Integrated: Initiate and complete end-to-end contract processes directly from your website, IVR, CRM, in-store POS, or call center solution. Collaborative, real-time sync ensures that back-end systems stay current.
• Sign once: Rather than signing numerous pages on a phone screen, customers can copy and paste their signature to use it in any required space on the document.
• Tamper-proof: All signatures are safe when businesses use technology-based timestamp records for all activities. This allows for complete compliance and eliminates any legal risks.
• Efficient Customer Service: An agent-guided experience allows customers to sign everything correctly the first time around.
• Flexible: Top eSignature solutions allow businesses to provide options for their customers-they can give signatures through the typical mobile device, or alternate channels and devices such as email, the company’s website, Alexa, IVR, or in-store terminals.

Telcos Streamlining the Customer Journey

When telcos use platforms like Lightico’s, call centers and customers can work in real-time to quickly solve problems.

• Shared Review: Review documents and bills together in real-time to adjust any billing issues, increase customer satisfaction, and reduce agent callbacks.
• Instantly update customer information by sending a web-form to their cell phone and stream the data right to your CRM.
• Verify customer identity in real-time to complete KYC and decrease the risk of fraud.
• Collect payments in an instant, secure, and PCI compliant way.

Telcos Need a Digital Transformation More Than Ever

Undergoing a digital transformation not only helps the telco industry itself, but also the global economy as a whole. Between 2012-2015, global flows of goods, services, and finance could triple from $26 trillion to over $80 trillion. During this time period, the telco industry becomes even more important. As companies in any industry integrate cloud-based mobile digital services, they rely even more on the telco network to get ahead and make a profit. As a result, the telco industry is playing a key role in the digital transformation of other sectors. According to World Economic Commerce, over $10 trillion of value from digital transformation in five key global industries over the next 10 years are fully dependent on applications and improvements brought by the telco industry.

How Digital Platforms Work for Telcos

More often than not, telco sales experiences go in the wrong direction because of overcomplications. It is challenging for agents and customers to work together the entire time because the process quickly becomes overwhelming, making the customer feel unsatisfied. When customers end the call frustrated, there are lost sales, added costs, and less customer loyalty. So, telcos have adopted eSignature solutions as a part of their digital transformation to simplify processes and retain customers. Communication between reps and customers involves a lot of multitasking to accelerate the process. While on the call, reps share product images, visual order summaries, T&Cs, and quickly collect eSignatures, digital consent, payments, etc. Here’s how it works with Lightico:

1. Customer receives a text message from the rep with a Lightico link. Now the rep and customer are in a live session to complete the purchase.
2. Rep shares images of products for the customer to choose from.
3. Once the customer chooses everything they want, the rep creates a full order summary.
4. The summary gets sent to the customer immediately for review and approves in real-time.
5. The customer reviews documents about their order and submits an eSignature.
6. The rep collects payment information and completes the process.

All of the customer’s information and documents are automatically synced into the business’s system with a full audit trail. Customers can also review PDFs of their documents later on.

Benefits of Digitization For Telcos

The tangible benefits of digitizing customer-facing processes through eSignature solutions for telcos include:

• Streamlined onboarding process
• Accelerated Sales & Increased Offer Take Rate
• Improved NPS & Customer Retention
• Automated Customer Workflows to Reduce Errors & Variability
• Expedited Service & Boost FCR
• Instantly Completed Onerous Billing Tasks
• Greater Agent Satisfaction and Retention

Digital Transformation is Critical For Today’s Telcos

Overall, some of the largest companies and industries in the world rely on telcos to digitally transform. When telcos use Lightico’s solutions, they can use eSignatures and eForms to create a better customer experience. It’s time to eliminate heavy paperwork and time-consuming purchasing processes and start digitizing more. Learn more at Lightico.com.