The application of electronics and software technologies is spreading to new areas, because they offer new feature possibilities. Consequently, these technologies require more validation and verification (V&V) efforts, resulting in increased costs and slower time-to-market for new products. The ICT industry has been forced to significantly improve its V&V processes. In this study, major Scandinavian telecom companies have been interviewed to clarify the challenges of V&V, and to identify ways to tackle them. The management of traditional industrial sectors could use the experiences from the ICT sector as a benchmark, as the same challenges are to be faced by them.