Telecom billing software has off late been the topic of intense discussion in board meetings undertaken by various CSPs (Communication Service Providers) across the globe. The ever-evolving billing requirements of telecom companies have forced telecom vendors to look for a billing solution that can simplify and streamline the billing process. While some MNOs (Mobile Network Operators) are looking to dump their legacy billing systems for newer billing software, others want a versatile telecom billing software solution that can address the complex requirements of modern-day telecom billing.
Making a Switch from Legacy Telecom Billing Systems
Legacy telecom billing systems employed by telecom operators have become a headache for them. Moving over to a new and advanced system not only bears additional cost on the vendor but also complicates the present billing structure of a company. Hence, it is important to hire a telecom billing software provider that can make the transition simple. Some of the advantages of making a switch from a legacy system to an advanced telecom billing software solution are listed below:
- Ability to manage all operations with a single team – Legacy billing diversifies the operations of a telecom vendor and makes it hard to create a centralized product catalogue. On the other hand, a modern telecom billing system can help a company in offering services, pricing and discounts using one team only. It also paves a way towards CRM (Centralized Resource Management), which allows the management of several products on different platforms through a single interface.
- Better prepaid billing – It is a well-known fact that prepaid services are favored by telecom subscribers over postpaid services. However, for accurate prepaid billing, one requires a real-time BSS that is not found in legacy systems. On the other hand, a cutting-edge telecom billing software solution not only allows for real-time prepaid billing, it also lets a telecom vendor to provision digital services and apply tariff changes with considerable ease.
- Improved analytics – In this age of information, no telecom operator can afford to stay behind in the field of data analytics. A telecom billing software solution from an accomplished vendor can help you in mining data in a better way, so you can use customer insights for formulating future strategy.
- Ability to manage OTT platforms better – With the advent of services like Netflix and Amazon Prime, we are seeing telecom vendors trying to capture the OTT (Over the Top) market. However, it is only possible by digitizing services and product through an ecommerce portal. This simply cannot be done through a legacy telecom solution, which is why; a move to latest telecom billing software is required.
For truly capturing the market, a telecom billing software that facilitates lifeline telecom billing is required. Conceptualized in 1985, lifeline program provides telecom services at a cheaper rate to people from lower-income group. This plan was formulated to ensure that all American citizens get the chance to use essential phone services and internet for accomplishing their day-to-day tasks. To carry out the process of disseminating this service, the importance of lifeline provider software has risen greatly. A good telecom billing software integrates the requirements of lifeline billing and makes it easier for a CSP to capture the market.