Telecom firms need agility to innovate: KPMG

INTERVIEW Telecom firms need agility to innovate: KPMG

As an energy guzzler, the industry must address its impact on the environment and society.

Darren Yong is the Asia Pacific Head of Technology, Media & Telecommunications at KPMG in Singapore. He is also the Asia Pacific Head of Clients & Market Development and part of the ASPAC Leadership team. A highly accomplished executive with over 20 years of experience in telecom and information technology, Darren is passionate about emerging technologies that enable clients’ digital transformation.

Darren has led key technology engagements at KPMG covering strategy, data migration, cloud, blockchain, and use case builds. He also advises C-suite clients across the telecom, technology, banking, insurance, life sciences, energy and resources, consumer industries on strategy, transformation, cyber security, data and analytics, and cloud.

Prior to joining KPMG, Darren worked in industryleading companies, such as Orange Business Services, Verizon Business, Sprint International, Lucent Worldwide Services, Siemens, and Nortel, where he held key positions.

As a judge in the Asian Telecom Awards, Yong provided his thoughts on how the telecom industry needs to transform and his personal goals of bridging the digital gap and supporting education for the less privileged.

What are the trends that you are currently seeing in the telecommunications sector?

We are seeing an increasing trend with telecom players focusing on new emerging revenue streams. With technologies such as 5G, IoT, and the connected home, the need for a telco to operate more like a technology company has resulted in many telcos moving into adjacent spaces such as banking, insurance, health, and other platforms. As telcos look at being a smart city enabler, capitalising on smart home revenue or moving into payments and micro-insurance, we see an increasing focus on how telco monetise and democratise data within and outside their business. This focus takes telcos “beyond connectivity” and has resulted in a number of telcos taking clear steps towards this new way of working.

What challenges do you typically foresee amongst telcos that undergo digital transformation and what is your advice for them to resolve those challenges?

The typical challenges we see for telecom companies in digitally transforming themselves link back to the tech giants and rising digital natives. With these new tech companies starting to challenge telecom revenues, there is a need for telecos to look to reinvent how they work. The biggest challenge relates to the fundamental way telecom organisations think, organise, and operate. Given there isn’t the luxury to start from scratch, they need to evolve their way of working into organisations that can develop new products, make decisions, and innovate at the same speed as a tech

Darren Yong, Asia Pacific Head of Technology, Media & Telecommunications, KPMG

There is a need for telcos to reinvent how they work

company. This change also requires a shift internally around the future skills and capabilities that the company needs as they look at being more data-driven to provide real-time insights and opportunities to drive enhanced efficiencies internally as well as externally in how telcos operate.

As a judge in the Asian Telecom Awards, what do you think sets the winners apart from other contenders?

Those that show innovation and thoughtfulness in applying their ideas to real-world problems would be at the top of my list. We know technology alone can’t solve world problems. Those that have connected this to solve a major need or targeting a specific opportunity would be high up on my list. Extra brownie points if it has a social or environmental impact!

What can you advise tech professionals and students who aspire to have a similar career as yours?

Always stay open to new ideas, be agile in how you learn and never lose sight of the customer. The world will continue to move at a pace, so being able to adapt and keep up will be a critical skill. Above all, do something you enjoy and love and find purpose in it!

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