Economics Class Recap

Economics Class Roundtable

Every Market is a New World

The third week of Bicom Systems Summer School was inspiring! Our students attended ECONOMICS class where the discussion topic was: ‘Every Market is A New World.’ This topic could not be any more true for us! Every market is a new world, and it just so happens that Bicom Systems is deployed all around the world! 

To get a better appreciation of geographic differences, we asked three partners to join our moderators Sales Manager, Katherine Lloyd, and Account Manager, Philip Royden, in the discussion. 

Professor number one is all the way in Florence, Italy! Roberto Tordini is the Co-Founder and Co-Owner of CLK. Across the road from Italy we found our second professor in München, Germany. Fritz Welter is an Expert and Representative at NetInteract GmbH. Finally, we headed South for our third professor. Malcolm Turnbull, the CEO of Nova IX Technologies, is from Magaliessig, South Africa. 

We were interested to hear the differences and similarities in selling, regulations, and challenges in each of their specific markets. As well as the most significant differentiation to the market they serve and what they see being served globally.  

All three partners agreed that a challenge for them and their customers is connectivity. In terms of an adoption point of view, Nova IX shared that, compared to the rest of the world, SA is still a couple of years behind in improving connectivity. Roberto from CLK expressed that many users are hard-wire connected, so there is a conflict with the use of digital devices. Unfortunately, providing cloud telephony services in a country with lousy internet infrastructure is challenging. 

An interesting question that Phillip asked our experts was whether the lack of connectivity will increase reliance on apps like gloCOM GO? Or if the use of VoIP will force carriers to widen their reach? 

With the connectivity issues they all face, more and more users are relying on applications. The demand for apps is also driving the 4G/5G race in these underdeveloped internet areas because mobile networks are more reliable. Providers realize they can not compete with solutions like WhatsApp and are now looking at alternative ways to open up the environment, through a data perspective.

In Europe, data privacy is a critical concept, especially in the German environment. As per Fritz from Netineract, did you know that a Germany provider is better than anyone in the world because it is more secure? 🤔

The common denominator in all three regions is the lack of technological advancements. NetInteract shared the history of landlines and mentioned that phone lines in Germany have always been bad due to how everything was initially built and part of the government. Today, there are private systems, all in competition with one another.

Highlights

📍 Netineract found comparable products and solutions were sold in the USA for five to six times higher (per extension) than they were selling for in Germany!

📍 We are preparing for a time when people will not have to pay phone minutes because they will be using free applications.

📍 It is important to start looking at ‘feature’ revenue. If a company is relying on voice revenue alone, it will fold.

📍 Unified Communications, applications, and other services are fundamental to succeeding in the industry and give you a competitive edge.

📍 The market in Italy is very demanding with the desire for mobility services, like communication applications.   

Ultimately, each company is selling more than a telephone system. They are selling a solution! The companies provide a solution that works, and the features that come with it are the added benefit. Providing applications will drive the market share and give your solution the value that many customers are looking for. 

If you are interested in watching this session or want to join the next one, sign up for Bicom Systems Summer School today! Summer School is four weeks long, with an interactive session happening every Wednesday. It is completely FREE, and participants will have access to a full library of recorded content, case studies, blog posts, and more. 

Learn more about Bicom Systems Summer School and how you can sign up here.

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