There’s a fierce competition among Telecom companies to increase their customer base to push revenues and increase market share and for this each operator tries to lure the customers with unique Value added services, plans and prices. Also, conventional telecom operators are facing tough competition from the VOIP service providers. Retaining customers is the biggest challenge for the operators today and a great service experience plays a critical role in customer retention.
Since, customer demands are rising and customers are looking for more personalized and connected data services along with the typical mobile number, telecom operators need to align their subscriber management processes to meet the demands. This is where a robust and flexible Telecom Billing Solution plays a vital role in enabling the operators to configure various different products with pricing and charging as per the usage for the services. Additionally, an advanced billing solution must allow configuring both pre-paid and post-paid services, must allow multi-tax regimes, custom CDR’s and PCI compliant security. Other features include plug-ins support for additional application integration, handling complex billing scenarios and flexible architecture for quick customizations.
Subscribers feel more satisfied with the operator if the billing and charging procedures are transparent and they like to stick with the operator. With the increase in the number of VOIP providers, customers now want reasonably priced voice calls. Considering the situation a robust billing solution is utmost important to configure different pricing and product bundles to target different customer segments. Not only a robust billing system in place enables operators to manage bill and charge subscribers in a more transparent way but also improves revenues.
What factors does Telecom Operators and VOIP service providers must consider before selecting any Billing Solution?
The most important aspect of any efficient and robust billing application is its flexibility to support the complex and dynamic billing challenges that operators are facing today. Another, important aspect is that it should have Event-driven Architecture for capturing anything as an actionable status. Then comes the security and it must be PCI compliant to ensure industry standard encryption and other security norms.
Listed below are some of the factors that must be considered when evaluating any billing solution:
- Robustness with Flexibility: Telecom operators provide multiple services and not just typical voice calls. So, the billing solution must have a robust architecture to handle millions of invoices and must be flexible enough to support various services for which customers are billed. It must have robust design architecture to ensure availability of the system even in the most complex billing environment. E.g. Jbilling is an enterprise billing software based written in Java and is in use by over 100,000 small and large telecom, VOIP and internet service providers due to its flexibility, robust architecture and PCI compliant security.
- Accuracy of the System: Revenues depend on billing and charging the subscribers for the usage. So, accuracy in generating invoices is important and subscribers feel more satisfied with the operator when bills/invoices are accurate. Accuracy in billing the subscribers reflects transparency of the company and attracts more subscribers to sign up for the services.
- Feature rich and customer-centric: Billing is not just about generating invoices for the services usage. It goes beyond that and a full-fledged billing solution is capable of business intelligence reporting that enable operators to gain competitive advantage. An enterprise billing solution such as Jbilling can be integrated with big-data analytics solution Hadoop to have access to the insightful information in the form of dashboards and business intelligence reports. Business Intelligence integrated with the billing solution enable operators to align their billing and services as per the customers’ demands to become more customer-centric. Today, customers want more personalized services and they are ready to spend extra for better services.
ADVANTON Inc. enables some of the leading Telecom operators, VOIP and Internet Service providers across the globe implementing industry’s most advanced Billing & Finance Management Solution that supports most complex billing and finance management scenarios.