Globe Telecom shifts gears, transforming into a full-fledged tech enterprise

The Philippines-based telecom giant moves to solve human problems by helping build a truly digital nation.

Globe Telecom is transforming itself from a traditional telco to a full-fledged tech enterprise, a development anchored on the company’s desire to help Filipinos build a digital nation. According to the company’s President and CEO Ernest L. Cu, this move means a complete transformation for Globe, given that the telco industry is maturing, and opportunities for growth are becoming limited.

The company has built a significant set of assets, including a large customer base of over 80 million, data about customers, distribution capabilities, human capital, and strong partnerships. Globe Telecom has also been a very profitable company with good cash flow. However, transformation is necessary to enable the company’s capabilities to build new businesses that solve human problems and create value for shareholders, said Cu.

One of the innovations that Globe has launched is GCash, which was born inside the company and satisfies the criteria of solving a real problem for Filipinos, specifically, the problem of financial inclusion. GCash has oversight of more than 76 million people who actively use it.

“And that was really to help the country improve, help the lives of our customers improve, you know, and truly build an admired nation that’s quite digital in nature,” Cu said.

He added that the transformation is not a reaction to a decline in the traditional telco business, but rather an anticipation of the industry’s maturation. He also mentioned that the telco industry has seen one disruption after another, which means that it is necessary to anticipate and prepare for changes.

The pandemic has also accelerated the adoption of digital technology, which has resulted in a shift in the industry. Cu said that the industry is now headed towards solving more human problems, such as healthcare, education, and media. It has moved from voice to data and has become a lifestyle industry that is more than just connectivity.

Cu’s leadership

With Globe Telecom as one of the leading telecommunications companies in the Philippines, Cu’s leadership and vision have been critical in guiding the company’s growth and transformation journey. By recognising industry trends, leveraging existing assets, and developing innovative solutions, Cu has positioned the company to thrive in the evolving tech landscape and contribute to building a digital nation for the benefit of all Filipinos.

Cu has been instrumental in leading the company’s transformation from a traditional telecommunications provider to a full-fledged tech enterprise. Recognising the maturation of the telecom industry and the need for growth opportunities, Cu has spearheaded this strategic shift.

Under Cu’s leadership, Globe Telecom has leveraged its significant assets to facilitate its transformation. The company boasts a large customer base of over 80 million, providing a strong foundation for its digital initiatives. In addition, Globe has accumulated valuable data about its customers, enabling them to better understand consumer behavior and tailor their services accordingly. The company’s distribution capabilities, human capital, and strong partnerships have also played pivotal roles in facilitating its evolution.

Cu firmly believes that transformation is necessary to unlock the company’s potential in creating new businesses that address real-world problems and generate value for its shareholders.

With a strong background in finance and business management, Cu has played a pivotal role in transforming Globe Telecom into a full-fledged tech enterprise, focusing on digital innovations and addressing real-world problems faced by millions of Filipinos.

Cu’s tenure as CEO has been marked by strategic vision and adaptability in response to industry changes. Under his leadership, Globe Telecom has undergone a significant transformation, diversifying its services and embracing digital technologies to cater to evolving customer needs. Cu has been instrumental in spearheading initiatives such as GCash, a mobile wallet platform that promotes financial inclusion and has gained widespread popularity among Filipinos.

Known for his forward-thinking approach, Cu has emphasised the importance of anticipating industry trends and preparing for disruptive changes. He recognises the profound impact of digital technology and has positioned Globe Telecom to explore opportunities in areas beyond traditional telecommunications, such as healthcare, education, and media. With his extensive experience and visionary leadership, Cu continues to drive Globe Telecom’s growth and position the company as a key player in building a digital nation in the Philippines.