5 New-Age Convergent Charging and Billing Support System Requirements
Not so long ago, the success of telecom operators hinged upon their proficiency in delivering core network services. Business and operation support systems were useful but they were not as critical as they are today. This was due to the non-complex nature of telecom services, primarily call and SMS, which filled the monochromatic spectrum of telecom service delivery. However, with the evolution of new technologies like IoT and 5G, the telecom landscape has changed considerably. In the present, there are many services that need to be monetized, charged, rated and billed; and hence, the operational, business and Billing Support Systems are stretched to the limit.
Exigent Modern-Day Requirements
Telecom services subscribers of today are more finicky than ever. They have too many options to pick and choose from because of a rise in the number of telecom services providers in the form of MVNOs (Mobile Virtual Network Operators). Also, non-telecom OTT services provider are eating into the already marginalized revenue streams of telcos, which is creating even a bigger problem. However, it is still possible for telcos to up their game and stand up to the new challenges by employing a new-age business and Billing Support System.
5 New Requirements of Modern-Day Telecom BSS
Telecom business and Billing Support System is under extreme pressure due to the heightened need of convergent charging and real-time service delivery. Telcos of today want a completely convergent and scalable billing system. But even more importantly, they require new-age functionalities to gain an advantage over their competitors.
1. Unified convergent charging solutions
As the number of services delivered by telcos increase, the charging and billing functions have become more complex than ever. A single platform like Online Charging System (OCS) is required to charge all services at a common point, so as to allow for the generation of a single invoice that reflects all charges. Convergent charging function of OCS brings in new efficiency and transparency into the billing functions.
2. Assimilation of new technologies
New tech like 5G and IoT are beckoning, which is why; telcos need to be ready with a platform that can fulfill such unforeseen requirements. An IoT development and billing platform that supports innovations like OTA (Over the air) firmware upgrade and billing of large number of transactions is the need of the hour.
3. Embedded Artificial Intelligence
Artificial Intelligence is used for multiple telecom functions, which include but are not limited to: chatbots, cost and revenue predictions, analysis of subscribers, subscriber experience analysis, customer attrition, automation, optimization, simulations, process reengineering, IoT development along with fraud and anomaly detection. However, AI implementation in modern telecom billing systems comes from external software solutions, which is not financially efficient. A better way to implement AI in modern-day telecom billing is by embedding AI within the Billing Support System to make the process a lot more seamless and economical.
There are many telecom business use cases that require you to make wholesale changes to your telecom billing system continuously. However, the cost of customizing software is high, which is why; frequent customizations is not economically feasible. A better way to leverage your telecom billing without amending your billing system constantly is provided by the ubiquitous APIs. APIs offered by a competent billing platform like Telgoo5 can help you fulfill your evolving requirements in the most convenient manner possible. All you need to do is install an API on your system and you get full access to your vendors’ databases, partnerships and other services. With Telgoo5, it is possible to connect to major shipping carriers, payment gateways and even build customer information into the vendor system.
A telecom operator, regardless of its stature and type, requires complete reporting for analysis. By partnering with Telgoo5, you get access to a custom slave data base, which is directly updated by the master database of the vendor. This provides you the ability to run as many reports as you want, and at any time you want.
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