Why Quality Billing Software Solutions Are the Heartbeat of a Telecom Operation?

Telecom billing is one of the most important tasks in a telecom operation. It is one domain that directly influences customers’ love or hate for a particular service provider. Therefore, billing software solutions should be selected after considering their pros and cons.

The Sudden Rise in the Importance of Telecom Billing Software

Over the last few years, the competition in the telecom industry has increased considerably. The number of players in the market has risen gradually and alongside that there has been a consistent influx of new services. The profit margins have receded and it has become harder to differentiate one operator from the other based on service delivery alone. The need for better monetization and packaging of services is at an all-time high, which is why; telecom billing software solutions have become extremely important, almost as significant as heartbeat is to life.

5 Aspects of Telecom Billing Software for Boosting Telco Performance

Whether you are an MVNO with a small subscriber base or a full-fledged MVNO, the importance of a billing software solution is second to none. Have a look at 5 aspects of a telecom billing software solution that can transform your business for good:

1.      Simplify the management of subscriptions: Subscribers of today have a plethora of telecom services to choose from. The subscriptions they are on are much more complex to manage than yesteryears’ voice and SMS based service subscriptions. A convergent billing platform with an OCS at its heart can simplify the process of billing subscribers and allow for the creation of detailed invoices. It will also bring in more transparency in the billing procedure and foster customer trust.

2.      Quick monetization of offerings: Many a times, telcos have the same plans, but the ones who launch them fast are the ones who generate maximum customer interest. Therefore, it is important to invest in a telecom billing software solution that allows for quick monetization of services.

3.      Launch of attractive discounts: Cross-product discounts and attractive offerings can increase customer interest in your services. Telecom billing software should allow you to offer discount on one service when the customer opts for another. Such discounts allow you to popularize your lesser-used services and increase Average Revenue per User (ARPU) at the same time.

4.      Security of customer information: Billing software and database store large amount of customer information that simply cannot be compromised. Therefore, a billing platform should be bolstered with cutting-edge encryption to prevent hackers from stealing vital customer information like account number, bank information, phone number, email address etc. Only when the platform is secure, telcos can operate freely with complete peace of mind.

5.      Application Program Interface – As telecom operations keep on changing with every newly launched technology, it is important for telcos to accommodate new services. But, the cost of buying new billing software or customization is quite high, which is why; APIs are needed. An API allows telecom operators to deliver new services and enter into fresh partnerships across verticals without making wholesale changes to their day-to-day operations.

Telgoo5 is one of the best telecom billing software solutions that can help you improve your outreach and deliver better services to your existing customer base.