Failed transactions cost telcos $38m annually

Fifty-four percent of telcos lose up to 10% of their annual revenues, or around $38 million, due to failed transactions, according to research commissioned by Progress Software.

As many as 95% of those polled say they also lose money owing to transaction failures. Driven by a spike in the number of transactions, telcos worldwide are experiencing more and more order fallouts.

Three-quarters of those surveyed say they have seen transactions surge by 26% in 2008. Of these, 73% saw the number of transaction failures jump by 42%.

Customer demand for new products and services and having to deliver bundled offerings are seen as the main culprits for higher transaction volumes and, in turn, more order fallouts.