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Why banks need to move or be run over…

Business and Enterprise

Posted on August 2, 2017

3 min read

I read with interest Telstra’s new report, entitled ‘Exponential Performance – In a Millennial, Mobile and Programmatic World’ which looked closely at the ways millennials want to use their money.

The report’s author, Rocky Scopelliti, says in the first paragraph that disruption to the financial services industry over the past decade “can only be described as ‘exponential’”.

He is bang on the money, excuse the pun.

Change has always been with us and will be a constant going forward but one of trends we’re definitely seeing is that the pace of change is increasing.

Over the past decade disruption has impacted a number of industries and financial services is certainly feeling the heat.

However, with that competition comes challenge and we are certainly up for that. We know we have plenty of work to do and are up against not only traditional sector competitors but new competitors from our outside our sector looking at ways to eat into the traditional financial services space.

We know we need to adapt and to adapt quickly. Our customers, and not just millennials, judge our service not only against other financial institutions, but by how they order food, pay bills and find healthcare services.

As the report says, we are up against it and to keep pace with the rate of change in financial services banks need to undertake significant digital transformation.

At NAB, I feel we are heading in the right direction and I explained some of how we’re addressing that with Telstra.

We are bringing together dedicated and specialised teams to redesign specific end-to-end customer experiences; we call these our Customer Journey teams.

They are rethinking the ways we can better support our customers as they go through life experience like buying a house, getting a loan or a credit card, or perhaps starting their own business.

Those customer experience improvements are mirrored with our technology and digital teams who are focused on engineering our digital platforms to be fully agile, to increase efficiency to get changes quickly into customers’ hands.

All of these parts of our 150+ year old organisation are working together to help us move more quickly for our customers than we ever previously have.

But we have plenty more to do and we have big ambitions which I’m really excited about. Stay tuned.

Learn more from our whitepaper and a range of interesting content from our Exponential Performance in a Millennial, Mobile, and Programmatic World report.

Early progress in building the networks for the future


Posted on August 1, 2017

5 min read

Telstra’s Chief Operations Officer, Robyn Denholm, highlights the progress being made in building Networks for the Future with enhancements to the reach, capacity and capability of Telstra’s networks.

With the explosive growth that is underway in the number and variety of smart devices, online services and digital applications, we are expecting five times the traffic and more than quadruple the number of devices across our networks over the next five years.

These figures sound impressive but this is about more than raw numbers.  It represents connecting you with friends and family; enabling Australian businesses to take advantage of cloud computing, machine to machine communications and artificial intelligence; supporting the development of a host of new startups; and giving you control over the smart home of the future.

To make this future a reality in Australia we are undertaking a once-in-a-generation program in building the Networks for the Future.  This will see Telstra build networks that underpin the way our customers work, learn and play for years to come.  Networks that will usher in 5G and make the Internet of Things a reality.

With the hard work of our leading engineers, developers and technicians bringing the best technologies from around the world to Australia and collaborating with our technology partners, we have made some exciting progress on this journey.  By increasing the reach, capacity and capability of key parts of our networks in recent weeks we have put the foundational building blocks in place for the connected world of the future.

Increasing capacity

Only 20% of the capacity we are going to require on our networks by 2020 existed at the start of this year.  So clearly we have a lot of work to do!

A critical part of delivering our services is our transmission network. These are the big pipes that form the backbone of our national network and support everything from mobiles and home broadband, to data for our business and government customers.  So upgrading the capacity and capability of this network is a key early step in building Networks for the Future.

We are currently rolling out optical transport technology across our transmission network, which will increase both capacity and flexibility of the network as well as improve resilience.

Tasmania is the first place to benefit from this new technology.  We have lit up the optical transmission technology across the state and on the cable routes running across Bass Strait.  The upgrade will increase Telstra’s network capacity on each of Telstra’s two subsea cables running across the Bass Strait from 400 Gigabit to 1 Terabit per second – the equivalent of 200,000 HD videos being streamed simultaneously.*

Importantly, the next generation optical transport technology offers huge upside for supporting growth.  With future system deployments we anticipate we can scale up to 100 Terabits per second or more.

We will now be progressively upgrading our optical transport capability around Australia, with Victoria, New South Wales and South Australia the next in line to benefit from from inter-capital upgrades.

Telstra’s 4G coverage now reaches 99% of the Australian population

With new mobile sites being completed in Woongenellup, Western Australia and in Kongwak, Victoria as well as 4GX upgrades in Cardwell, Queensland and in Grace Plains, South Australia among several other towns in recent weeks, we have now expanded our 4G coverage to reach 99 per cent of the Australian population.  This means more regional and remote communities than ever before have access to mobile services using the latest technologies.

We now offer 4G across more than 1.4 million square kilometres, which is more than five times the landmass of the United Kingdom and means more Australians have access to our world leading network where they live, work and play.

Australia’s largest Internet of Things footprint

Telstra has activated Cat M1 across our 4GX coverage footprint, becoming the first network operator in Australia to offer the technology and accelerating the growth of IoT-based businesses and applications across the country. We will shortly deploy range extension capability which will take the Cat M1 coverage footprint for compatible Cat M1 devices to more than 3 million square kilometres.

Cat M1 enables low cost IoT devices, like sensors and monitors, to have greater reach in distance and depth into buildings.  It also offers the opportunity for battery life measured in years rather than hours and days.

This is great news for a range of industries.  We see this as an investment in the IoT ecosystem in Australia that will support new start-ups across multiple sectors, including agriculture, transportation, healthcare and mining.  We are working with the sector to develop products and service that can take advantage of our IoT capabilities.  Telstra has also commenced the rollout and testing of software that supports the NarrowBand IoT standard and we expect to enable that capability later this year.

* Based on a 5Mbps per streamed HD video

If you want to learn more about the types of work you can do in technology at Telstra you’re already in the right place.

Podcast: A big step forward for your small business

Business and Enterprise

Posted on August 1, 2017

2 min read

Despite Australians being among the biggest users of digital technology in the world, just half of the country’s small businesses have an online presence, meaning commercial opportunities are passing them by.

We know there’s a perception amongst business owners that getting online will be costly, complicated and time consuming.  But what if there was a simple way to help make sure opportunity knocks?

As part of the Be ‘That’ Business radio show, we spoke with Jae Hawkins, the general manager of the Wollongong Hellenic Club, who put her apprehension aside and embraced a new digital strategy to help her company flourish.

When Jae was approached for the position at the WHC earlier this year, the first thing she did was Google the company, but unfortunately the website was under construction at the time.  This hit a chord with Jae; “I knew nothing about the club, so I couldn’t expect our customers to know either” she said.

Jae realised she needed to establish an online footprint immediately, but without any experience in web development, she didn’t know where to begin.

With the help of Telstra Online Essentials, Jae had a new website up and running within 48 hours, and new customers soon followed. Now, the club is taking bookings and function enquiries online, with its live entertainment and mezze platters proving especially popular with patrons.

Here’s why having an online presence is so important:

The first step to a sale

The National Online Retailers Association says almost 10% of retail sales are made online, but many other sales begin online with customers researching options before they make their final decision in store.

Connect and grow

As Jae discovered firsthand, an online presence is one of the most cost-effective and rewarding ways to start a conversation with new customers and grow a small business.

The barrier to entry is lower than ever

It’s understandable to feel intimidated and unsure about where to start with setting up your online presence.  With Telstra Online Essentials, we can help you every step of the way.

Listen to our chat with Jay here:

For more on how to be ‘that’ business, visit Smarter Business.

Welcome to the (Bay Area) Jungle– what startups need to know


Posted on July 28, 2017

4 min read

The ultimate goal of a good technology company should be to change the way things are done, at a large scale, for the benefit of humanity. Think Tesla transforming energy use and road safety, and Apple building a bicycle for the mind.

Some of the most effective people at doing this are concentrated in the San Francisco Bay Area. The Bay Area is made up of Silicon Valley, as well as San Francisco and Oakland where many new companies are now basing their efforts.

Much like the TV show Silicon Valley, the Bay Area is filled with houses of people building things. The first house I stayed in there was called Chez JJ, and is the actual house that the TV show features. Unlike the TV show however, people generally aren’t that interested in trivial applications. Typical people at Chez JJ came from NASA or Google. They were working on products to improve education, share access to scientific facilities, or develop new kinds of computing hardware.

Most people in the Bay Area are working on products to improve efficiency that will deliver a small improvement to a large number of people. Typically these products help automate extremely boring work, like filling out forms, or checking part of software. This isn’t that exciting to hear about but our lives are much better for being able to avoid these tasks. Some founders are open to taking bigger risks and these are the inspiring startups you will hear about. These people are working on fundamental improvements to human capability, our reach in the universe, our health, and the hardest social, financial and environmental problems of our age.

At muru-D we work hard to give technology company founders the skills to make an impact. This year our group of founders went to the Bay Area to improve themselves and the prospects for their companies.

There are two main opportunities in the Bay Area for a founder to consider:

  • Develop your EQ. The greatest opportunity for a founder in the Bay Area is to develop their management, leadership, and communication. The goal is to build the techniques for empathy and to use them to relate better to your staff, your customers and your investors.
  • Develop your Hustle. You will not make valuable connections just by arriving. You need to work hard to stand out and to reach the people whose guidance will be most valuable to you. The Bay Area is one of the most competitive places on earth and you will need to prepare and put in an effort to be noticed.

The opportunities we arrange for muru-D founders to develop their EQ on our trip to the bay area include:

  • Communication Coaching run by people who facilitate the Stanford MBA program.
  • Improv – improvisation workshops and experiences by people who are experts at developing startup communication.
  • Meditation run by startup coaches.
  • Marketing and branding workshops, tailored specifically for launching new technology products.
  • Conferences so they can see how other founders show up and get a sense of what local investors and customers expect.

The opportunities for muru-D founders to develop their Hustle include:

  • Extensive pre-trip planning, where founders identify people who could advance their company.
  • Email hacking sessions where we form a group late in the evening and share techniques for writing cold emails for new meetings.
  • Mentor meetings where founders meet with and try to impress people from the local industry.

My biggest personal wins in Silicon Valley have come from EQ development and getting meetings with people I never dreamed I would meet. This second part is an attitude I see a lot of in Australia and one I’ve now shaken off.

There is a tendency I’ve noticed in Australia for us to view ourselves as somehow different to the most successful people and feel inadequate around them.

This is an attitude that takes a while to break down. Once you realise everyone else is more or less like you, meetings will flow more comfortable, negotiations will reach fairer outcomes and your business will move forward much more easily.

Helping founders form this confident attitude is one of the most rewarding parts of being involved with muru-D.

eCommerce and interactive gaming exploding, shows digital report

featured Business and Enterprise

Posted on July 27, 2017

4 min read

The Internet is in better health than ever. There are about 3.4 billion Internet users globally – about half the world’s population – many of whom are living a digital life. They are going online to watch movies, listen to music, play video games and they’re buying more than ever – so says leading Silicon Valley venture capitalist Mary Meeker in her annual Internet Trends report.

Each year, Meeker gives a breathtakingly comprehensive overview of the state of the Internet covering topics from smartphone growth and media habits to online advertising and how digital is influencing industries such as healthcare.

One key highlight that emerged is interactive gaming – a US$100bn business with 2.6bn gamers. In the 80s, gaming was about a solo gamer playing Pacman or Mario. Today it is a shared experience, with more people playing online than ever. Gamers take part in competitions, held in arenas watched by 1000’s with millions more tuning in online. 161m fans watch eSports monthly, a 40% hike from 2015. Meeker highlights gaming in particular, as techniques learnt can impact people’s lives. Games can be used in simulations to train fighter pilots and hone athletic skills, teach pattern recognition or let people learn by repetition.

Other highlights of the report include:

  • Voice searches are on the rise, with 20% of all queries made this way with an accuracy rate of 95%.
  • Global growth of smartphones is slowing, up only 3% from last year, down from about 27% and 11% in 2014 and 2015 respectively.
  • E-commerce continues to skyrocket, as demonstrated by parcel volume. In the US it topped 10bn last year, up 9% year on year. In fact, the unboxing of parcels has become entertainment in itself with the top 5 unboxing channels on YouTube attracting 33m subscribers in May 2017.
  • Eating in is the new eating out. Many high-end restaurants are now providing home delivery service.

Developing countries embracing digital innovation

In China, huge leaps have been made in online transportation and mobile payment technology.

  • The number of on-demand trips booked online reached 250m for just one quarter, more than anywhere else in the world.
  • China also leads the way in mobile payment innovations, with the big players Alipay and WeChat allowing customers to make everyday transactions with their smartphones.

India has experienced huge growth in eCommerce and in the smartphone space.

  • New mobile players have been opening up competition, with carrier Reliance Jio giving away free data and stealing millions of customers in the process. This has helped overall smartphone adoption in the country.
  • It’s also competition that is making eCommerce a huge business in India, with local players like Flipkart and Snapdeal going up against global giants Amazon.
  • What distinguishes India from the rest of Asia is the government’s pro-digital policies. Among them is a rollout of high speed broadband. Digital authentication via a smartphone for the 1bn+ population has been introduced (ahead of developed countries like Singapore), with 16 million authentications being carried out each day for transactions such as the opening of bank accounts.

While the report is silent on the rest of Asia, the trends are similar. Every Asian country has seen growth in Internet usage and users. As a result bricks and mortar retailers are struggling, replaced by e-commerce, where Asian brands like Taobao and Lazada rival Amazon. On-demand video and music has replaced TV and CDs and all countries are moving to high speed broadband with governments leading the way in digitising services.

For Asian observers, there are three areas that could be interesting to global brands and entrepreneurs.

  • Ad blocking is high in Asia. Indonesians block more ads than any other country (58% of mobile users), followed by Pakistan (38%). ‘Lite’ web and app versions of ads should be developed to avoid hogging bandwidth. They must also be optimised to work on slower 2G and 3G networks, which are still operating in Asian emerging markets.
  • Traffic congestion in major Asian cities like Kolkata, Mumbai, Dhaka, Manila and Jakarta present opportunities for entrepreneurs. Consumers are likely to be discouraged from out-of-home shopping, opening up e–commerce opportunities from home delivery to health care.
  • As a spin-off from the popular on-demand transportation services, other areas like handyman services, personal shopping and fitness are areas with potential.

Carriers will play a crucial role for digital services to work smoothly and without interruption. Who wants a dropped wifi connection just before buying the new pair of shoes? For digital services to work smoothly, network bandwidth is key. Carriers must ensure good coverage, offering high reliability and scalability especially with the explosion in digital entertainment and on-demand services in transportation and home services.