Telcos to TechCos: How enterprises are reshaping telecom growth

As telecom markets mature and connectivity reaches saturation, the next phase of growth is no longer defined by scale alone. This shift was at the heart of a panel discussion on Telcos to TechCos: The Growth Agenda, moderated by Jaideep Ghosh, Former Partner at KPMG, during the Voice & Data 5G+ Conference. The discussion explored how telecom operators can transition from connectivity providers to outcome-driven technology partners for enterprises.

The panel brought together Salil Khanna, National Head – Customer Operations, Enterprise Business, Reliance Jio; Sukhjit Singh, CTO & Director – Technical, AT&T Asia Pacific; and Rakhee A Chachra, Global Research Leader (TME), Institute of Business Value, IBM.

Opening the session, Ghosh framed the core challenge facing the telecom industry. Historically, growth was driven by expanding coverage, adding customers and increasing capacity. That model, he noted, is now constrained. “Connectivity has become just the starting point and not the only solution that consumers, both retail and enterprise, are looking for,” he said. With customer acquisition largely saturated, the question is how telecom operators can monetise their networks, data and long-standing customer trust to unlock new, sustainable revenue streams.

From selling connectivity to owning outcomes

Rakhee A. Chachra set the context by highlighting a growing disconnect between enterprise expectations and telecom business models. Drawing from IBM research, she observed that enterprises are shifting their focus from point solutions to business outcomes, while many communication service providers still expect the bulk of enterprise growth to come from traditional fixed-line, mobility and connectivity services.

“In our research, CSPs still believe that 70 to 80 per cent of their enterprise growth will come from connectivity,” Chachra said. “But enterprise expectations have moved significantly in the last two to three years.” She argued that enterprises today expect telecom providers to take accountability for outcomes rather than simply deliver services.

Technology, particularly AI and automation, is central to this shift. Chachra explained that enterprises increasingly want network intelligence to be embedded into services, enabling real-time visibility into provisioning, performance and security. “They expect access to this information through dashboards and APIs,” she said, describing this as “table stakes” rather than differentiation.

From a buyer’s perspective, fragmentation is no longer acceptable. Enterprises want integrated solutions that work seamlessly without requiring them to understand the complexities of cloud, connectivity and security. “They want someone to take accountability and ownership for outcomes,” Chachra added, underlining the essence of the telco-to-techco transition.

Enterprise transformation beyond the network layer

Salil Khanna expanded on how this shift is playing out in enterprise engagements at Reliance Jio. He argued that telecom operators can no longer position themselves purely as providers of networks or bandwidth. “As a telco, you can do only so much for an enterprise customer,” he said. “The network layer alone does not deliver any business outcome.”

According to Khanna, real value is created when telecom capabilities are aligned with enterprise business processes. Whether it is store-to-shelf operations, supply chain workflows or plant-to-port logistics, the opportunity lies in reimagining processes using the ubiquity of 5G, cloud platforms and AI tools. “I am not here to sell you connectivity or a pipe,” he said. “I am here to deliver value into the business processes that you are running.”

Khanna identified four outcome areas that enterprises increasingly prioritise: revenue growth, market share expansion, operational efficiency and improved employee and customer experience. Delivering against these requires telecom operators to move closer to the enterprise, understand its workflows and co-create solutions rather than sell standardised services.

Rethinking Go-to-Market Models and Partnerships

The panel also examined how go-to-market strategies must evolve as telecom operators move into solution-led engagements. Khanna noted that there is no one-size-fits-all approach. Large enterprises may be served through direct, vertically specialised teams, while long-tail customers often require partner-led models. However, as solutions become more complex and ecosystem-driven, partnerships become essential even at the top end of the market.

“When you are selling solutions that rely heavily on AI, 5G and cloud, you need a unique ecosystem,” he said, emphasising that value creation increasingly depends on collaboration rather than isolated capabilities.

Chachra reinforced this point by challenging traditional segmentation models. According to her, enterprise demand is not determined by company size but by operational intensity and digital dependence. “A small financial firm can be more demanding than a large enterprise,” she said, particularly where reliability, security and uptime are mission-critical. Willingness to pay, she added, is driven by the importance of digital operations to the business rather than by scale alone.

Global perspectives and the limits of scale-led growth

Offering a global viewpoint, Sukhjit Singh reflected on how enterprise customers across regions are converging around similar expectations. While connectivity remains foundational, its standalone value is diminishing. Singh pointed out that growth through scale has natural limits, not just in India but globally. Enterprises are no longer satisfied with incremental improvements in speed or capacity; they expect measurable business impact.

The discussion also touched on capital market perspectives and valuation. With telecom businesses increasingly being viewed through a technology and digital services lens, expectations around growth, efficiency and innovation are changing. While the panel avoided specifics, the underlying message was clear: future valuations will be driven by the ability to create differentiated value rather than by subscriber numbers alone.

Sustainability, Data Growth and Infrastructure Constraints

Towards the close of the session, the conversation turned to sustainability and the infrastructure demands of AI-led growth. Panellists acknowledged that data growth, driven by AI and enterprise workloads, is placing unprecedented pressure on data centres, power availability and water consumption.

While green energy initiatives and efficiency improvements are underway, the challenge remains complex. As one panellist noted, data centres are expanding rapidly, but power will become a constraint at some point. Balancing growth with sustainability will therefore be a critical part of the techco journey.

Redefining the telecom growth narrative

Summing up the discussion, Jaideep Ghosh returned to the central theme that opened the panel. Growth driven purely by adding customers, locations, or bandwidth is no longer sufficient. The next phase requires telecom operators to reposition themselves as technology partners that deliver measurable outcomes, integrate seamlessly into enterprise ecosystems and take accountability for business impact.

As the panel concluded, it was evident that the telco-to-techco transition is less about technology alone and more about mindset, operating models and trust. For India’s telecom industry, the opportunity lies not just in building networks, but in shaping enterprise transformation at scale.