The rapidly evolving digital consumer trends have led several Telecom Service Providers (TSPs) and Communication Service Providers (CSPs) to diversify their revenue streams and expand the scope of their offerings which in turn bring about disruption across industry verticals. As mobile instant messaging providers add voice services and mobile payment capabilities to their platforms, they are fast emerging as threats to both legacy and new services offered by Service Providers. Telecom companies must therefore reinvent themselves in the era of smartphones and impeccable OTT services. Undoubtedly, organizations in the telecom industry that can connect their network and service capabilities with changing customer needs will stand to gain the most.