30 Most Innovative Companies 2018
Telecommunication is an integral part of the modern business world. Companies all over the world have utilized the advancement in technology to revolutionize their day-to-day operations. Advancements in telecommunication technologies have greatly impacted on the way people interact with one another at the global level. Nowadays, individuals and businesses can communicate easily through voice calls, video calls and data sharing applications. Businesses have particularly taken advantage of teleconferencing, video conferencing and video calling systems to steer collaboration among employees. By adopting a sophisticated telecommunication system, many businesses have realized improved productivity, better customer service and increased growth.
Espying the benefits of telecommunications in today’s world, KWAK Telecom came into existence in the year 2004. The company started with Domestic Premium Rate Numbers. Facilitating services like hotlines. But rather soon the founders of the company, Ludwig Braum and Gottfried Schrempf, figured out that the business model limited to single countries was outdated and there had to be an internationally working solution established to satisfy the changing needs of the media and content market. That’s when KWAK moved into the field of International Premium Rate Numbers which we are developing since then.
Furthermore, Josef Bruckschloegl, CEO, will help us understand about the firm.
What was your first project? And how did you expand your offerings over the years?
I joined KWAK in 2009 and my first assignment as its Vice President Carrier Relations was to build a diversified portfolio of international number ranges to be used as a payment tool and to convince as many telecom partners as possible to collaborate with us in developing this new offer. Many of them was reluctant because of the potential of misuse and fraud. But also many realized the huge potential for telcos moving from classic communication into payment services. Meanwhile KWAK Telecom works with hundreds of telecom companies all over the planet and is considered being an important pillar of creating margin and revenue.
There are many pieces to the innovation puzzle, and they will come together differently for each organization. What is your culture of innovation?
We began early adopting our organizational structures along the needs of our clients. Since 2010 we are developing an international team with focus on diversity, education and a spirit of excellence. Despite the fact that we are a boutique firm with only 20 employees our team consists members from 14 different nations. This makes us understand the variety of languages and cultures in our global spanning market and enables us to adopt quickly towards changing needs of our clients. We emphasize life long learning and send our staff frequently on executive education programs to St. Gallen and Oxford to keep them inspired and open minded for new opportunities and trends. And maybe most important of all we cultivate a spirit of excellence. We are not satisfied by being mediocre but we strive to deliver excellence performance in anything we do.
Innovation is limitless, every company seems better than the other. How do you stay relevant to the consumer interests and hold their trust & loyalty?
I think there are two main pillars of KWAK Telecom’s success and relevance in the market: First and most important is that the interest of our clients always come first. Our experience shows us that if we treat our clients well our own success will follow. This approach formed our reputation within the market over the years and created a stable basis of trust. The most important aspect of payment business.
Secondly, growing up in Nigeria, India, Iraq or China none of us was raised with a silver spoon and we are pretty aware of the fact that success needs constant hard work. We are in a very competitive environment and only if the daily experience our clients have with us is better than the ones with our competitors, they will stay with us.
What are the products/services that bring most innovativeness out of your company, and how successfully did you carry-out?
The major achievement of KWAK Telecom is still the development of International Premium Rate Numbers as a globally accepted business model within the telecom segment and thereby establishing a totally new market for telcos and a new revenue stream for media companies! The vision of KWAK’s founders, Gottfried Schrempf and Ludwig Braum, to develop a globally working micropayment tool based on existing telecom infrastructure cannot be valued enough. This market is still developing alongside media becoming more and more international. We can only guess how big it will become during the next years when global media channels like Youtube and its players start identifying IPRN as a source of income and interaction.
How have you inculcated technology to better your services?
Technology is at the heart of what we are doing. No telecom company can be successful in the long run if not running superior tech. Our clients are relying on our service as a commodity and therefore is has to run without friction and as convenient as possible. For us this means continuous improvement of the quality of our service as well as of our customers experience. During the last years we have developed multiple applications which make it even easier for our clients to work with us.
What are your future business ventures?
Presently we are working on a new thing that might have an even bigger impact on global micropayment than International Premium Rate Numbers had. We are optimistic that we are going to present a totally new approach how to process media-recipient-interaction like votings on television. I don’t want to tell too much because we are currently in a pilot phase but my expectations on this new service are huge.
Where do you visualize your company in a couple of years?
Hopefully still very successful! At KWAK Telecom we know that no long term plan is good enough to survive touch with reality. That’s why our aim is to stay agile and flexible and develop along the needs of our clients and the market we are acting in. As CEO of a private company I am in the privileged situation that I don’t have to share forecasts and deliver along set plans. I am optimistic that as we have built a stable basis and reputation on which we can develop further businesses and I am also pretty sure that we will see further organic growth in our core business IPRN.
Josef Bruckschloegl joined KWAK Telecom in 2009 as Vice President Carrier Relations. Since 2013, Josef Bruckschloegl leads the company as its Chief Executive.
Josef studied Telecommunications and Media Economics at University of applied Science St. Poelten (Austria) and examined his master degree with distinction in 2000. In 2016, KWAK Telecom was awarded national champion in the category Business of the Year at the European Business Awards. And in the following at LeFonti Awards as Innovation of the Year and also recognized by London Stock Exchange Group as one of 1000 Companies to inspire Europe.
“We offer different audiotex services connected with its domestic and international payment solutions.”