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Innovating to Adapt to a Post-Pandemic World

Innovating to Adapt to a Post-Pandemic World

Plume
Published by: Research Desk Released: Nov 04, 2021

The International Finance Corporation expects CSPs to face uncertain growth and business development for the foreseeable future.1 Industry analysts have also downsized previous forecasts and predict slower progress in the number of new subscribers.2 Consumer spending, in general, is down to the levels of the Great Recession,3 meaning that—like many sectors—recovery for CSPs will take some time.

Cutting costs will help offset some of the losses incurred due to the pandemic. But cuts only go so far. To emerge successfully from the economic downturn and continue to expand, CSPs must innovate. New technologies provide some of the best opportunities to gain a competitive edge. This paper explores untapped areas where technology can boost competitiveness. By becoming forward-thinkers, CSPs can greatly improve their customer satisfaction, promote loyalty, and decrease churn rates.