Telecom industry has changed considerably over the years. In the past, voice calls and SMS were the staple of this industry. Subscribers were happy calling their friends and relatives from time to time, and an SMS once in a while during festivities or birthdays used to do the trick for most. However, with the launch of the smartphone and better data connectivity services, everything has changed. Subscribers have found new ways to make calls and send messages using OTT (over the top) services like Skype and WhatsApp.
These new methods utilize minimal data and get the job done without incurring significant expenses on the user. These low cost alternatives have reduced the revenue of telcos considerably and they are looking for cutting-edge telecom billing solutions, so they can launch innovative plans and attract new customers.
Essential Characteristics of Competent Telecom Billing Solutions
Whether you are an MNO (mobile network operator) or a small-scaled MVNO (mobile virtual network operator), you need telecom billing solutions that can help you in your endeavors. Flexibility is the key to success in the world of telecom today. You need a billing solution that helps you charge, rate and create itemized bills for your customers. Convergence in billing is also vital for ensuring that your subscribers get their bills for all services in a single invoice. Comprehensive OSS and BSS solutions are needed for successful accomplishment of billing tasks, customer care processes and everything done in-between ordering, provisioning and order fulfillment. A total telecom solution can help you in avoiding the hassle of hiring different vendors for different tasks. Below are some important features of a quality telecom solution:
- Helps you forge OTT partnerships – Partnering with an OTT service provider is very important for ensuring that you get your share of revenue from OTT platforms. Good telecom billing solutions help you in charging and rating various OTT services without taking your focus away from managing your core process.
- Service delivery through different channels – Without a sound distribution channel, it won’t be possible to reach out to your customer effectively. You require OSS and BSS solutions that provide you different routes to deliver your services to your customers.
- Customizability – Every telecom business is different and requires a billing solution that can be customized to meet its unique requirements. Hence, your telecom billing solutions should be customizable, so you can create innovative bundles and service packages for your subscribers to garner their interest.
- Business analytics – Analyzing your customers’ behavior is very important as it allows you to understand what they want. With data analytics integrated into your telecom billing solutions, you can get insights that can be very useful for altering your business strategies to meet the requirements of your subscribers.
- Better security – As a telecom operator keeps a large amount of his customers’ information, he needs secure OSS and BSS solutions that can keep subscribers’ information safe.
A telecom billing software like Telgoo5 by Vcare has all the aforementioned features and hence, can be a great addition to any telecom vendor’s operation.