5 Reasons to Choose New Telecom Billing System

Catalina Joseph, Telecom Tech Outlook | Tuesday, November 12, 2019

Telecom companies have suffered to reach a major point which changes the functioning and operations of the entire system

FREMONT, CA: Telecom billing solutions have been a significant pressure point for telecom service providers as they pose great difficulty while functioning. Below given are the reasons to go for a smart telecom billing system

1. Faster Time to Market

Speed is the primary reason for choosing a modern telecom billing software. A future-friendly telecom billing solution provides an easy-to-use, rapidly configurable, and personalized plans. These factors assist in transforming BSS from being considered as a bottleneck for innovation into its source for revenue generation.

2. Lower TCO

Total Cost of Ownership (TCO) is high, especially while running a telecom billing solution. The newer billing systems will have their open APIs, and their potential to launch new services devoid of the changes in the ongoing business flows. This approach allows CSPs to work with a smaller operational staff, thus lowering the Total Cost of Ownership.

3. Dynamic Business Rules

Top Telecom Billing and Revenue Management Solution Companies

Another crucial option of having an up-to-date billing platform is the leeway to define existing business rules. Telecos can immediately trigger actions to bring-in more subscribers or followers for a specific event.

4. More Options for Relationship Management:

CSPs adapt to the ever-changing necessities of their customer base. CSPs might not need to cooperate with partners as they do not have all the knowledge they require in-house. A modern solution will easily allow interaction with all the partners within their ecosystem, whether they are IoT providers, interconnect, mobile virtual network enablers or operators, and roaming partners, payment service providers, or any other type of partner.

5. Revenue Sharing:

CSPs should share revenue and interact smoothly, seamlessly with all partners within their ecosystem regardless of what role it is fulfilling. If the CSP works with a car charging infrastructure, the billing solution will allow automatic revenue sharing for each endpoint. This is one among the many other ways in which CSPs are co-operative in creating revenue streams and monetizing from today's digital lifestyle and IoT. To think about it, these technologies were never really part of the systems.