Finetwork Selects Amdocs to Modernize its Systems, Enabling Spanish Operator to Provide Fiber, TV, and Mobile Services
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Insights
The partnership between Amdocs and Finetwork marks a significant development in the telecommunications sector, particularly within the context of digital transformation and cloud-based solutions. The move towards serverless architecture and a pay-as-you-grow model reflects a broader industry trend towards cost efficiency and scalability. By leveraging AWS's robust cloud infrastructure, Finetwork aims to enhance its service offerings, which could potentially lead to increased market share and customer satisfaction.
From a market perspective, the adoption of AI-based solutions like the Amdocs Digital Brands Suite as a Service can be seen as a strategic investment in technology that can drive operational efficiencies, reduce time-to-market for new services and improve customer experiences. These factors are critical in the highly competitive telecom industry, where customer retention and the ability to quickly adapt to market changes can significantly impact a company's financial performance and stock valuation.
Investors should note that Amdocs' announcement could be indicative of growth potential in its cloud and AI service offerings. The collaboration with Finetwork, a Spanish service provider, may open up new revenue streams for Amdocs and solidify its presence in the European market. The emphasis on a flexible, cost-effective delivery model suggests that Amdocs is positioning itself to cater to a wide range of service providers, from established players to emerging virtual network operators.
Financially, the pay-as-you-grow model could lead to a more predictable and stable revenue stream for Amdocs, as it aligns costs directly with Finetwork's growth. This could be attractive to investors seeking companies with scalable business models. Furthermore, the ability of the Amdocs system to manage multiple network providers and resellers indicates a potential for network effect benefits, which could enhance the long-term value proposition of Amdocs' offerings.
The deployment of Amdocs' AI-based suite via a cloud-native serverless architecture is a testament to the technological advancements being made in the field of telecommunications. Serverless computing allows for the building and running of applications without managing infrastructure, which can lead to significant reductions in operational costs and complexity. The AI component of the suite is likely to provide advanced analytics and automation capabilities, enabling Finetwork to offer personalized and efficient services to its customers.
Moreover, the mention of mobile virtual network enabler (MVNE) capabilities is noteworthy. MVNEs provide network infrastructure and related services to mobile virtual network operators (MVNOs), which are companies that offer mobile services without owning the wireless network infrastructure. This enables MVNOs to focus on branding and customer service. By providing MVNE capabilities, Amdocs is facilitating Finetwork's ability to support MVNOs, potentially expanding the market for Finetwork's services and creating a more diverse telecom ecosystem.
Amdocs' AI-based Digital Brands Suite as a Service, powered by AWS, will empower Finetwork to enhance its offerings and provide end users with a simpler, digital customer experience
JERSEY CITY, NJ / ACCESSWIRE / February 6, 2024 / Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced that Spanish service provider Finetwork has selected Amdocs to transform its core business systems, enabling it to offer triple-play options for end-users encompassing fiber, TV, and mobile services in a more flexible, cost-effective way.
Delivered through a cloud-native serverless architecture and pay-as-you-grow business model to ensure maximum flexibility and scalability, the AI-based Amdocs Digital Brands Suite as a Service, powered by (Amazon Web Services) AWS, will provide Finetwork with a ready-to-go solution for quick onboarding and managing the entire customer lifecycle.
The new system will create a complete digital experience for Finetwork customers and will allow the operator to seamlessly scale up and react quickly to changing market dynamics. The Amdocs system will also enable Finetwork to connect multiple network providers as well as manage resellers and provide Finetwork with mobile virtual network enabler (MVNE) capabilities to manage mobile virtual network operators (MVNOs).
"We are thrilled about the impact this digital transformation will have on our customers and, crucially in today's ever-evolving landscape, with Amdocs' SaaS-based Digital Brands Suite we are paving the way for a sped-up transformation versus a traditional project," said Carlos Valero, Chief Technology Officer at Finetwork. "As one of the leading telco operators in Spain, with over one million subscribers, the new system will play an important role in our ambitious growth plans, and will enable us to expand the range of our offerings and tap into new domains to meet our customers' expectations, seamlessly delivering these new services to provide a simpler, more engaging customer experience."
"Customers expect simplicity and immediacy in every digital interaction, whether it's booking their next vacation or activating their new phone," said Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs. "Finetwork understands the importance of creating engaging, seamless experiences and we are thrilled that our Digital Brand platform, enhanced with the latest AI and generative AI capabilities, will serve as the foundation for accelerated growth and new service offerings to their customers."
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About Amdocs
Amdocs helps those who build the future to make it amazing. With our market-leading portfolio of software products and services, we unlock our customers' innovative potential, empowering them to provide next-generation communication and media experiences for both the individual end user and enterprise customers. Our approximately 29,000 employees around the globe are here to accelerate service providers' migration to the cloud, enable them to differentiate in the 5G era, and digitalize and automate their operations. Listed on the NASDAQ Global Select Market, Amdocs had revenue of
Amdocs' Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macro-economic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other global or regional events such as the recent attacks in Israel and evolving conflict and the COVID-19 pandemic, as well as the current inflationary environment, and the effects of these conditions on the company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the company's customers, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the company's offerings and operations and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2023 filed on December 13, 2023.
Media Contacts:
Mario Hajiloizi
Amdocs Public Relations
E-mail: mario.hajiloizi@amdocs.com
Holly Abbott
Babel PR for Amdocs
Tel: +44 (0)7527 521057
Email: amdocs@babelpr.com / holly.abbott@babelpr.com
SOURCE: Amdocs Management Limited
View the original press release on accesswire.com
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