Thanks to the economic downturn and rising interest rates, leading financial industry stalwarts such as Accenture, BlackRock, BNY Mellon, Goldman Sachs, and PayPal have already laid off hundreds or thousands of employees. And these are just the big names; banks, credit unions, insurers, and private equity firms of all sizes worldwide are carefully reviewing their headcount and trimming their workforce in order to stay competitive.

Last month, the Singapore bank DBS experienced a 10-hour outage of its digital services. Not only was it massively disruptive to customers, but it caused the bank’s stock to lose 1.4% of its value in a single day. And it’s not the first time DBS has had to deal with the fallout of an IT snafu; in November 2021, Singapore’s finance regulatory body imposed significant additional capital requirements on the bank after its digital banking services were disrupted for two days.

Navigating the fast-paced, highly competitive telecommunications industry calls for a proactive approach to stay ahead of the curve. As customer expectations soar and technological advancements continue to shape the sector, telcos must embrace IT automation to remain relevant. Delving into 5 top use cases for IT automation in the telco industry, let’s uncover the key drivers that empower businesses to thrive in today's market and be well-prepared for the demands of the future.

The unexpected collapse of Silicon Valley Bank (SVB) in March served as a wake-up call for financial institutions, depositors, shareholders, and regulators alike. If a seemingly-solid bank like SVB can go under almost overnight, everyone has begun to wonder if any financial institution is safe, with banks and regulators worldwide analyzing the continued risk to the entire banking system.

Too many IT tickets, not enough time. That’s just one problem that comes with a poor employee onboarding experience, and it’s one that causes deal-breaking difficulties for new employees, and just as importantly, IT leaders in the IT service management (ITSM) department. Ninety-three percent of employers said that a good onboarding experience is critical for retention of new employees, according to market share data from Finances Online. The total cost of voluntary turnover in 2020?

While network automation tools can help infrastructure and operations (I&O) teams improve their agility, lower their costs, and reduce the risk of manual errors, network management stubbornly remains a largely manual process. According to a recent Gartner report, less than 35% of enterprise network activities are automated today, forcing enterprises to run largely using a ClickOps model.

While your approach to network operations (NetOps) is critical to business performance, the challenges of managing the needs of a modern network can keep Infrastructure & Operations (I&O) teams from helping their organization reach its full potential. Here’s what you need to know about NetOps to meet those challenges head on.

As 5G technology advances in power and sophistication, telcos are encountering a new span of challenges. 5G network complexity, coupled with a spiraling volume of data traffic, raises barriers for telco companies seeking to smoothly manage their networks and sustain consistent quality of service (QoS). But a solution is now easily within reach.

Today’s Cognitive Network Operations Center (Cognitive NOC) is a significant advancement that employs artificial Intelligence (AI) and machine learning (ML) to dramatically modernize and improve network management and operations. Working together, the NOC and IT Process Automation (ITPA) propel superior efficiency and effectiveness of network operations, minimize downtime, lower operational costs, and overcome additional challenges in optimizing network performance.

The true financial harm of downtime is significant. As of Aug 11, 2022, each minute costs an average of $9,000, according to the Ponemon Institute, raising the downtime cost per hour to over $500,000. It goes without saying that network outages hurt revenue, kill productivity, and harm the corporate brand, as well as the reputations of professionals who may be dragged into the mess.