The same company also had over 1000 products, 20 ad agencies, and 41 buildings in Sydney and Melbourne alone.

Trujillo's vision to "integrate the company and its services" providing consumers with a seamless "one touch" experience across every type of device will all be enabled with the "fundamental restructure that is needed". All of this will be enabled with "next generation" IT and networks, or "the plumbing".

"There is a whole lot of network that has been added onto the existing switched network" he said. "It was bolted on over the last few decades in terms of how this business has evolved."

Despite the enormous challenge ahead, Trujillo isn't kidding and estimates between $2.5 billion (US$1.83 billion) and $3.5 billion will be required to transform the business, networks, and IT.

"So when you think about new services, new capabilities you always have to think about how you can execute and implement it, and with that comes more cost," he said, adding vendors will also be more accountable as Telstra looks at which suppliers "can bring the greatest capability to help us do and execute on the vision we have for this business - it is about technology."