In the past, telecom operators’ focus mainly revolved around their core competencies, which included procuring radio frequency spectrum, laying down the network infrastructure and delivering the OSS and BSS services. Billing was also an important aspect of their day-to-day operations; however, it was not really as crucial as it is today. Subscribers were happy as long as their calls and SMS services worked and they routinely paid their almost-similar monthly bills. However, with the emergence of new technologies and services, a modern-day telecom bill looks very different from its elder cousins. The added complexity in today’s invoices is a direct result of the intricate functions that telcos need to perform these days.
5 Essential Functionalities of Modern-Day Billing Solutions
Convergence in billing and real-time charging
The biggest requirement of modern-day telecom software solutions is that they need to be convergent. This can be accomplished by partnering with a telecom billing specialist that uses an Online Charging System (OCS) for charging all services. An OCS that meets 3GPP-specified technical specifications prevents loss of revenue and allows you to create convergent invoices with charges of all services mentioned in a single document. This creates transparency in the billing procedure and helps you build a trustful bond with your customers.
Allows for innovative discounts
A telecom billing solution should give you complete flexibility in stacking up different services as per requirements. And more importantly, it should enable you to launch attractive plans with innovative discounts like cross-product discounts. For example, cross-product discounts can elicit interest of customers in your lesser-used services, when you pair them up with a service that is readily used. A discount on IPTV (lesser used service) when a minimum number of calls (frequently used service) are made, can familiarize your customers with the lesser-used IPTV service and also incentivize them to make more calls.
Provision for useful APIs
For an MVNO (Mobile Virtual Network Operator), APIs can be extremely useful. As APIs allow you to perform new functions without overhauling the already-bought software, you are able to enhance your workflow without spending mega bucks. For example, if you are in need of a shipping vendor to supply your SIM cards to the subscribers, you can simply download the API provided by the MVNE, login to it and start printing your shipping labels. This way, you won’t have to get involved in the hassle of forging new partnerships with new vendors and customizing your pre-existing telecom software solution.
Reports and analytics
Every operator requires analytics and reporting capabilities, especially in today’s highly competitive business environment. Therefore, you should analyze the telecom software solutions on their analytical performance before making an investment. Through analytics, you will learn more about your subscribers and hence would be able to create pertinent business strategies that are in tune with your subscribers’ interests.
Scalability and security
Whenever an operator grows its network, it also has to scale its billing capabilities. This can be done by procuring telecom software solutions like Telgoo5. Not only Telgoo5 allows for complete scaling, it is also encrypted to prevent information loss due to hack attacks.