Imagine a situation where your marketing team comes up with a great plan to attract new subscribers for your telecom business. You want the plan to be implemented within a week to make the most of the present market situation. However, your current telecom billing system is old and does not have the flexibility to accommodate the new scheme your marketing team has come up with after intensive research. Due to the time you spend in amending the current billing software, the small window of opportunity that you had passes you by. What a loss? All that effort went in vain! However, there is a solution to bring your plans to market quicker and it is there all thanks to modern convergent telecom billing systems.
Problems with Old Telecom Billing Systems
The telecom billing systems of past were IN-based billing systems that were primarily devised for handling voice and SMS billing. Although they had provisions for accommodating new services, the billing system needed to be altered for making any change. Some of the major problems faced by companies still using IN-based billing systems are:
- Inability to support all types of charging
- Closed service management model
- Slow time to market
Due to the limitations of old IN-based systems, it is a good decision to move to the newer and much improved convergent telecom billing systems.
What to Look for in Your Next Telecom Billing System?
If you have suffered enough due to a lacking telecom billing system, it’s time to make a switch to the new-age convergent telecom billing system. However, not all telecom billing systems are equal, which is why, you need to know about the features it should have for it to be effective:
- Multi-faceted convergence should allow for different payment methods, network and services. Without these options, it becomes hard to carry out a seamless operation.
- The capability to handle postpaid, prepaid and hybrid accounts with real-time charging and billing. A state-of-the-art OCS (Online Charging System) – considered the heart of the billing system – is essential for efficient billing in the present times.
- Scalability and flexibility in a telecom billing system allows for the plans to be changed as per requirements at any time you want. This ensures quicker delivery of newly-created products and offers.
- Report generation and data management features integrated in the software solutions that allow for better reporting.
- Ability to address the billing requirements of newer technologies like IoT
How Convergent Billing Systems Can Be Useful for a Business?
When a market is in its earlier stages, it offers multiple opportunities to telcos. Telecom operators – who make their move sooner rather than later – succeed in attracting new customers. Hence, for a telecom operator to make maximum profit, it is essential to formulate quick plans that are aimed at different customer groups. This is only possible if the telecom billing system is convergent and allows for complete flexibility in launching new services.