The world is constantly changing and so is the marketplace. The competitive forces and increase in adoption of innovative and multifaceted business models are enforcing the Service providers to create and launch new products more rapidly and reduce product design and development cost. In order to achieve this ubiquitous business objective, many of the service providers are struggling to create consistent & effective product models in their product catalog and across multiple systems particularly CRM, Order Management, Service Design and Inventory and Billing systems.
The market trends also reflect increase in adoption towards a centralized dynamic catalog strategy by Service providers. However, in order to reap and realize true business benefits from an enterprise product catalog, the product designs needs to be reusable, componentized, modular and flexible, such that, instead of lying scattered across different systems, they provide a single agreed view between Business, IT , Network Engineering and dispense information efficiently across multiple layers of networks.
From the above we can infer that the main drivers for adoption of Centralized Catalog solution and the need to create effective Product Models in a Service provider's environment are competitive pressures, faster time-to-market, cost reduction, revenue enhancements, launch of new services and effective and improved managed product life-cycle and fulfillment.