Telecom
billing requirements go hand-in-hand with the emergence of new technologies in
the telecom industry. Depending on the complexity of the technology, the
complexity of the billing system also rises. This is why; most telcos feel the
need to overhaul or amend their current telecom billing software solution
whenever a new technology is launched.
New techs like OTT and IoT have
befuddled telcos with their sheer magnitude and resource requirements. To track
and monetize these services, the traditional telecom
billing and payment software solutions are found to be useless. The need
for modern cloud-based solutions is becoming more pressing than ever before.
The Importance of a Quality Telecom Billing Service Provider
As most
telcos are too busy in performing their core competencies, they have to rely on
a telecom billing service provider
for their billing tasks. Therefore, the selection of a billing provider should
be done with great care.
Considering
the current state of affairs in the telecom industry, APIs have become
extremely important. A good API can help you perform a complex task in an
instant without resorting to drastic steps. For example, if you do not have a
particular payment gateway partnership e.g. PayPal is not on your list but your
customers are insisting on using it, you can add it through an API without
changing or purchasing a new telecom billing and payment software solution. But
for this to happen, you need a capable telecom billing service provider.
Key Functions of Telecom Billing and Payment Software
Apart from
APIs, there are many other operations a billing solution has to perform for it
to be effective. 4 vitally important functions of a telecom billing system are
listed below:
1. Convergence in billing – With an increase in the number of services
provided by telecom operators, the complexity in billing has increased
considerably. Every customer wants a fully-itemized bill that has charges of
every service they are using reflected on a single invoice. Therefore, you
should always invest in a telecom billing system that has a centralized
charging system like an OCS (Online Charging System), which can charge all
service at the same place.
2. Comprehensive financial analysis – Today’s businesses are so
competitive that you simply cannot afford to relax. Even when everything
appears to be going smoothly, you should strive for more. Financial analysis
ability integrated into telecom
billing and payment software solutions can help you gain insights through
subscriber behavior, which can ultimately help you form better future
strategies.
3. Safety and security – A cloud-based telecom billing solution
stores subscribers’ billing and charging information at multiple datacenters.
So, when there is a natural disaster or manmade calamity at one particular
location, you can always access the subscriber information from another
location. Apart from safety against disasters, you should also look for
security. Always invest in a billing solution that encrypts the billing data
with strong encryption.
Scalability – The requirements of a telecom operation can
grow manifold in a short span of time. This could be due to the launch of a new
technology or addition of new subscribers in the database. Hence, you should
always employ services from a vendor that can scale its services according to
your ever-evolving requirements.
Comments
Post a Comment