In today´s society, transmission of information, of whatever kind, is crucial and is the basis for development and progress for any industry in the world economy. Moreover, processes such as globalization oblige the interdependency between elements that are physically separate from one another to become more efficient, faster and more reliable. Therefore, telecommunications play a very important role in contributing to not just social activity but also business and industrial activity.
For many years, telecommunications was one of the most stable industrial sectors globally. However, it is now undergoing profound transformation with changes in its structural nature and is undergoing a transition period, the outcome of which is unknown. Nevertheless, these are very challenging times for the telecommunications industry.
Operators in the telecommunications sector are confronted with ecosystems which, in turn, require great reciprocity and dependency, in which technology and communications in all their forms become interconnected in ever more complex ways. No sector is immune to the forces of change such as continual technological evolution, market competition and the volatile consumer behaviour.
Each of these factors has the power to re-define the relationships that telecommunication companies have with their clients, distributors, and partners in the sector´s value chain.
Consequently, effective risk management is absolutely necessary in the field of telecommunications in order to confer stability and efficiency to businesses involving telecommunications and which are so essential in today´s world.
MAPFRE Global Risks offers advice and assistance from a highly qualified team of experts in the sector and that specialize in risk management associated with telecommunications, such as:
- Risks of compliance with existing regulations.
- Operational threats related to processes, systems, staff and everything affecting the business value chain.
- Strategic threats related to the analysis of customers, competitors and possible investors.
- Financial threats in respect of studies on the volatility of markets and its role in the actual economy.