By Ian Runyon, Vice President of Product, Mobile – Tangoe
5G is a shiny new offering, and enterprises will be tempted to go all-in with the technology to reap the benefits it promises. The challenge, however, is that without a proper strategy in place, businesses will incur unplanned consumption costs and could quickly see their spending spiral out of control.
The number of 5G connections is projected to grow 217%, from roughly 10 million in 2019 to more than 1 billion in 2023, according to IDC. This is due in large part to the network being poised to deliver vastly faster speeds and lower latency to help businesses run faster and more efficiently, enhancing the capabilities of the workforce. 5G will also allow businesses to take greater advantage of the Internet of things (IoT), connecting even more smart objects.
As businesses deploy more 5G connections, they’ll not only need to invest in hardware and infrastructure upgrades; the need to plan for an increase in bandwidth consumption and associated expenses will also be critical for successful adoption of the new network.
To avoid unplanned budget overruns and burgeoning cost structures as a result of 5G, here are three considerations for companies to implement today:
- Understand the existing inventory. Before developing a plan to roll out 5G, it’s important to track and manage existing IT assets. As new technology proliferates, the only way to maintain control over spending is with complete visibility into inventory.
- Identify cost savings. It’s undeniable that 5G will require a level of investment in new devices and infrastructure, but as businesses are planning this investment, it has an opportunity to find cost savings by optimizing existing expenses and removing redundant or unnecessary technology.
- Take a strategic approach to deployment. Mitigate potential risk by starting with a plan for a deliberate and strategic 5G rollout. Based on where the technology adds the most business value, determine where it makes sense to slowly start introducing the technology within the organization.
There’s no doubt 5G promises a bounty of opportunity for the enterprise. But with great power comes great fiscal responsibility, so organizations that strategically plan for, and manage, its plethora of new infrastructure and devices will be the ones successful — especially those making the considerations critical for cost-effective deployment.