Telgoo5

Telecom industry is frequently going through transitions after transitions. New services are flooding the market and forcing telcos to evolve quickly. Both billing and operation support are under great pressure. The scale of resource utilization for 5G and IoT services is immense. Therefore, it is crucial that telcos improve their operations support system and billing and provisioning software solutions to deliver better services to their subscribers.

Traits of the Best Billing Software in 2021

In today’s time, it is imperative that you use convergent billing solutions that are empowered by a true real-time online charging system. Such a system has the following traits that can come in really handy:

Adherence to evolving telecom billing system architecture as per 3GPP

Meeting the requirements posed by 3GPP technical specifications is paramount. A telecom operator that meets these requirements can ensure complete revenue assurance. At Telgoo5, you get a compliant telecom billing software that delivers on every front.

Powered by APIs

Most billing and provisioning software are similar but differentiated by their APIs. Telgoo5’s APIs are geared to meet the immediate and futuristic requirements. It delivers on every front including business support and operational support.

Intuitive interface for quick plan deployment

Stagnation is the worst enemy of a business operation. In the telecom industry, stagnation can cause you to lose out to the competition. For an MVNO mobile services vendor, it is even more important to evolve constantly as the competition is immense. Unlike bigger players in the market, MVNO has smaller margins and limited outreach. So, stagnation becomes its biggest enemy when it comes to business empowerment.

Invest in New Services for Best Results

MVNO can only be profitable if they are able to attract customers with their unique plans. Therefore, it is important for them to invest in new technologies such as IoT and 5G. But these technologies pose a huge requirement in terms of resources such as B/OSS and billing management.

To meet these exigent requirements, a telecom services provider needs a proven online charging system (OCS). Also, it needs to have the computational power that can manage millions and millions of transactions each day. The best way to achieve this is by using the services of MVNO service providers who have pre-existing resources.

Essential Attributes and Resources of MVNO Service Providers

MVNO service providers need to be agile in terms of fulfilling the requirements of MVNO. If they have these essential resources and attributes, they can be a huge asset for your business:

3GPP compliant Online Charging System

When compared with OFCS (Offline Charging System), an Online Charging System (OCS) is way better. But for it to be really effective, it needs to be compliant with 3GPP specifications. A 3GPP compliant OCS has a direct link between PCRF and OCS, which means every service is charged in true real-time, ensuring 100% revenue assurance.

Analytics

Preventing losses is very important and analytics as part of the billing system are necessary for that.

Ingestion from different systems

The billing system should be able to take in data from different systems. Ingestion from different systems is an absolute must for an MVNO.

Support for futuristic technologies

In order to attract customers, you need to provide them the latest and greatest services at a cost-effective price point. A quality billing platform, like the one offered by Telgoo5, can act as a proven IoT billing systemthat can help you serve your customers better.

Security of data

Telecom billing is slowly emerging as the most critical aspect of telecom operations in the world. Customers are knowledgeable and know exactly what they want. More importantly, they don’t want to spend a single penny more on the services that they are using than what is necessary. Almost every customer is comparing plans online and going with vendors who offer the most bang for their buck. Therefore, as a telco, you need to focus exclusively on telecom billing and meet customers’ requirements immediately.

Real-Time Billing for Revenue Assurance

Real-time billing implemented via an Online Charging System (OCS) ensures complete revenue assurance. Hence, the transparency between the customer and the operator is always maintained. Not only that, if it comes with Business and Operation Support System functionality, it becomes a one-stop solution for every problem.

One thing is for certain in the telecom domain, innovation is the key to achieving success in the market. However, due to compliances and regulations, one needs to walk the line very carefully and not make any errors while innovating telecom offerings. A billing software not only has to be flexible but also operate within the confines of FCC (in the US) and 3GPP (globally). For example, an online charging system that does not has a real-time link between PCRF and itself can lead to revenue leakage. So, even if you are marketing services innovatively, the debacle of revenue leakage would hamper your progress.

Deliver Futuristic Services with Greater Care

Most MVNOs have their operations sorted out when it comes to standard voice, data and SMS services. Nowadays, it is essential to focus on futuristic services such as IoT and 5G. With the help of MVNO service providers, you can easily grow across multiple verticals, which is an essential requirement for developing a solid IoT and 5G platform for end-users.

Telecom billing solutions are expected to be a major driving force for telecom businesses. Almost every operator is selling similar services to its subscribers and the difference is often created by not what the services are but how they are delivered. Small gestures like discounts, transparency, self-care option, better customer experience etc. can make huge difference in attracting customers. While the bigger players in the market have the finances to implement their very own telecom operation and billing systems, it is the smaller MVNOs who find it tough to innovate their services. Oftentimes, they are restricted by the telecom billing software solution that they are using.

Why Telecom Billing Software Is So Important?

Telecom billing software limits the entire scope of what you can do innovatively as a telecom operator. The best software solutions receive constant updates. They are always in sync with new technical specifications (e.g., the ones laid by 3GPP) and compliances created by regulatory bodies (e.g., Federal Communications Commission in the US).

Any laxity in adhering to the new updates or compliances can have a major bearing on the results that you get. The success mantra for telecom operators like MVNOs is to find telecommunications billing software solutions that are cost-effective and multi-faceted in terms of features.

Choose API-Powered Telecom Billing Solutions for Staying Abreast of Changes

Application Program Interface (API) is an integral part of modern-day telecom software solutions. Whether it is about managing the point of sale or various B/OSS functionalities or revenue assurance; APIs allow telcos to be always one-step ahead. Nowadays, you can access cutting-edge APIs well after purchasing a telecom billing solution. These APIs are tailor-made to fulfill specific functional requirements. For example, you can venture into a new vendor partnership or integrate a completely new database such as NLAD in a matter of seconds.

Not only APIs are functional, but if they are intuitively designed, they offer greater control over services for non-technical operators. If an MVNO entrepreneur is not very tech-savvy, it can use billing support systems such as the ones provided by Telgoo5 for simplifying work. You can combine multiple services in different bundles, configure discounts and expedite monetization in a few easy steps.

Telecom billing software solutions have come a long way in the recent years. Monolithic billing systems have given way to flexible and much more hands-on telecom billing systems that allow for quick monetization.

You can even launch pilot plans to gauge the response of customers before you actually start selling your services to the real buyers. It is high time that you switch to a real-time charging system that leverages the computational aspect and allows you to serve customers in a better way.

The Role of Billing and Provisioning Software

The entire dynamics of a telecom operation revolve around charging, billing, business system management and operational support system. Every aspect is linked with one another, which means it is much better to operate your services via a single intuitive platform.

Billing and provisioning software solutions need to have a single centralized charging platform with real-time charging capabilities. It can help you in:

· Monetizing prepaid, postpaid, IoT, broadband, video streaming and other relevant telecom services at a single point

· Unification of billing charges under a single invoice

· Improved provisioning and delivery of services

· Better account management

· Elimination of redundant customer records

· Better screening of vendors

Harness the Power of Intuitive APIs in Best Billing Software

Application Program Interface (API) has become an inseparable part of telecom billing and other operation. It allows even non-tech telcos such as business-minded MVNOs to manage the extremely intricate telecom process. All the complexity of the code is hidden behind the wonderfully easy to operate APIs.

The APIs prevalent in the telecom industry can be classified into three categories:

· Internal APIs that provides services such as location, identity and messaging

· APIs for partnerships that allow you to access business services from different vendors

· Public APIs that allow consumers to use different technologies in a useful way

The fact that these APIs can be supplied and initialized long after the telecom billing software is created makes them that much special for a telecom operator. As most MVNOs do not have the finances to pull off huge software customizations, APIs become an essential requirement for performing future business activities.

Focus on Customer Service and Support for Making the Best Impact

From a telecom operator’s perspective, it is very important to model services according to the changes in the market. On one hand, it is important to excel at your core competency, and on the other, you need to adapt as per the industry norms. Covid-19 and lockdowns have brought with themselves a lot of systemic transformations in the form of regulatory changes and compliances. In order to stay one-step ahead of competitors, it is important to feel right at home with these changes. Only then you can drive forward and stay innovative.

Access a Truly Adaptable Platform that Drives Innovation

With dynamic telecom billing solutions at your disposal, you can stay innovative and competitive. The best billing support systems such as Telgoo5 come with all the functionalities, but also offer a level of abstraction. Hence, you do not have to worry about all the technicalities.

With simple and straightforward APIs, you can have complete control over the system. All the updates and compliances are updated in the background, so that you can focus on creating the best plans for your customers.

Setting a benchmark is not easy, especially in an industry as competitive as telecom. However, you can set a benchmark for yourself that can be followed as a roadmap for future services. Most subscribers love consistent services. It is the most important fact in the telecom industry. If you can keep a high level in service delivery, revenue assurance and accuracy of billing; you will be rewarded in the end. Despite knowing this fact, many companies are unable to stay in the good books of their customers, and in most cases, a lacking billing solutionis the reason for their downfall.

Stagnation is the End of a Telecom Business

Consistency doesn’t mean that you do not have to evolve and peddle the same services. In fact consistency can only be brought about by changing the workflow constantly, and aligning it with current strategy.

In terms of billing, telecom companies have evolved from traditional prepaid and postpaid model to convergent model. The telcos who took longer to make the switch to real-time charging systems either lost their customer base or simply faded away into oblivion.

Implementing a 5G and IoT Billing System

Two of the most prominent technologies in today’s world are 5G and IoT. Both have the promise and power to change the way the whole world functions. IoT can offer utter convenience and 5G provides blinding speed. 5G allows for network slicing, which means telcos can offer several connections over a single physical network connection. QoS based services are a dream made true by 5G. One can implement 5G properly with a monetization system that allows flexibility and an ability to mix and match various plans. For example, telcos can create specific bundles for gamers, video-streaming lovers and low-latency connectivity seekers.

IoT presents a huge challenge because of the sheer number of transactions that take place via IoT connections. A competent IoT billing system is needed to calculate charges and provide bifurcated and accurate bills to the subscribers. Another critical element of IoT is security. As the devices transmit data without direct governance, strong encryption is an absolute must.

Nowadays, it is hard to deliver telecom services to a customer base by using age-old telecom billing system. Customers of today are no longer satisfied by traditional offerings like voice calls and SMS. They want video streaming, IoT, 5G, digital money and above all complete transparency in billing. It is not ideal to improve one aspect of telecom operation and expect good results. A comprehensive strategy needs to be implemented that encompasses every aspect of telecom billing, BSS and OSS telecom software.

Transform Business with One-Stop Telecom Billing Services

Telecom billing services that are powered by a real-time charging system are an absolute must. You also need enhanced performance with your B/OSS, so that the business requirements are handled dynamically and in an efficient manner.

The most important aspects that a telecom billing system should focus on are:

Revenue assurance

Ensuring that customers are getting exactly what they paid for. You can’t shortchange the customers and expect to stay in their good books.

Point of sale

An easy-to-use point of sale is required to sell one’s telecom offerings.

Reporting and analytics

An MVNO Mobile Virtual Network Operator has many responsibilities. Although the technological aspect is taken care off by MVNE, the MVNO mobile services distribution is completely the responsibility of the virtual operator.

Become MVNO, but Make a Plan First

To Become MVNO, you need a solid plan. It is essential that you have the right monetization strategy, so that your services are sold in the best way possible. There are loads of roles and responsibilities that need to be filled in, which is why; there is a need for specialist MVNO Providers.

With the right partnership, you are able to access a telecom charging system along with OSS/BSS functionality. It is possible to automate these tasks and focus elsewhere. Everything in the backend is handled by the MVNO service providers such as Telgoo5.