BSNL to pay Rs. 132 Cr. to BCG
2024-06-07BSNL (Bharat Sanchar Nigam Limited) has faced significant challenges, including a lack of professionals, which has impacted its performance and competitiveness. Hence, BSNL is set to pay Rs 132 crore to Boston Consulting Group (BCG) for advisory services aimed at revitalizing the telecom company's operations.
The consultancy's focus areas will include:
Reducing Operational Costs: Identifying and implementing strategies to streamline BSNL's operations, thereby cutting down unnecessary expenses and improving overall efficiency.
Improving Revenue: Suggesting initiatives and strategies to enhance BSNL's revenue streams, which may involve new business models, product offerings, or optimizing existing services.
Providing Better Customer Experience: Developing customer-centric approaches to ensure better service quality and satisfaction, which can lead to improved customer retention and acquisition.
Leveraging Emerging Technologies: Advising on the adoption of new and emerging technologies to boost sales, optimize operations, and stay competitive in the fast-evolving telecom sector.
Sales & Marketing Strategies: Aligning BSNL's sales and marketing efforts with industry benchmarks to ensure they are effective and in tune with market demands and trends.
To align Boston Consulting Group’s interests with BSNL's goals, the consultancy firm will receive performance-based incentives. This means that part of Boston Consulting Group's compensation will depend on the successful implementation and measurable outcomes of their strategies, ensuring accountability and motivation to achieve the desired results.
The initial contract with Boston Consulting Group includes a provision for extension by one year. If needed, the contract can be extended on the same terms, conditions, and cost, providing continuity and stability in the advisory and implementation process.
To execute the operation, Boston Consulting Group will establish a project management office at BSNL’s corporate office in the Capital to facilitate their advisory and implementation services.
Going forward, BSNL is also looking at strengthening its business in the enterprise segment through cloud solutions, 5G captive networks and internet of things (IoT) solutions.
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