5 Best Features of Telecom Billing Systems for Business Success

Every aspect of telecom operation is getting convoluted due to new technologies and a rise in unexpected demands. As competition rises, one cannot dwell on the challenges in front. Any time wasted in bringing new services to market or addressing emerging customer requirements can be fateful. Especially for small and virtual operators (MVNOs),the time to respond to customers’ needs is very small. They need all the support they can muster. Amidst all the resources available to them, hi-tech billing systems can be a major difference maker. The best telecom billing systems can aid in achieving higher customer satisfaction levels and simplifying the whole business process.

Why Telecom Billing Services Can Be Crucial?

A small-scale operator does not have in-house resources to come up with cutting-edge OSS/BSS and telecom billing solutions. One needs to access telecom billing services that are suited for quick monetization and achieving transparency in billing. Below are some reasons why modern billing services can prove detrimental:

·         Access completely convergent billing for printing descriptive invoices with bifurcation of charges. Sending bills that clearly state every service charge, tariff, discount, tax etc. can foster customer trust in your services.

·         When your marketing team devises a strategy, it is as per the current situation in the market. But due to lack of flexibility in telecom billing and monetization, telcos often waste a lot of time. And hence, the opportunity goes by. But with the best telecom billing systems, you can stack up multiple services as per your choice and launch them immediately.

Access best telecom billing systems via Telecom Billing Services

If you are looking for a billing partner, then you need to find the best one in the market. The better your billing is, the more revenue you are likely to generate. An experienced billing partner can provide you a feature-filled billing system. Some of the important functionalities of the best telecom billing systems are:

Intuitive design

A billing system needs to have an intuitive design, so that your employees can use it without any problem. A complex design can hinder the utilization of a software. It is often seen that MVNOs are unable to use many features, because their staff is unable to comprehend the intricacy of the system. The best telecom billing systems have a simple design with an intuitive dashboard.

Analytics

The power of analytics is no secret. And, it has to be leveraged in the telecom industry for beating the competition. Not using analytics is like giving an edge to the competitors. With regular insights about buying trends, classification of user segments and knowledge about competitor strategies, you can stay ready to meet the challenges of the future.

APIs

If you have to overhaul telecom billing services frequently, then you would have to spend a large sum of money. This is simply not justifiable, especially for MVNOs with limited financial resources. Access telecom billing platforms that come with APIs, so you can fulfill any need in future without customizing or replacing your existing telecom billing system. For example, an API can give you instant access to a shipping vendor, a payment gateway or even allow you to integrate databases (e.g. NLAD) with just a simple installation at the client end.

Multi-Tenancy

Multi-tenancy that allows for multiple logins is critical. The best telecom billing systems allow for multiple logins with different user rights. In the multi-tenant environment, access needs to be restricted according to the type of user and security parameters should be defined clearly.

Single-point charging environment

You do not want to charge and rate different services via different systems as it creates confusion in billing tasks. A centralized charging platform like the Online Charging System (OCS) provided by Telgoo5 is needed to perform single-point and convergent billing. Not only that, an OCS can charge every service (prepaid, postpaid, broadband) in real-time and eliminate revenue leakage.

At Telgoo5, we offer the best telecom billing systems to our partners. Our billing platform is robust, real-time, secure and supported by a 24x7 NOC team.

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Stay Compliant with Regulations by Employing Trustworthy MVNO Billing Solutions

In the last few years, Mobile Virtual Network Operators (MVNOs) have become an integral part of telecom operations. These virtual operators form a very important link between the MNOs and subscribers by serving those customers who look for services with a difference. As it is impossible for mega operators i.e. MNOs to cater to the interests of each and every subscriber located in a particular region, a window of opportunity opens up for these virtual operators.

The Importance of Compliance in MVNO Operations

Although MVNO business is lucrative and has some perks, it also comes with many obstacles that need to be overcome for safe operation. The first and foremost requirement of MVNO and MVNE success is to create a differentiation in their services with respect to their competitors. And, equally important is their ability to follow the rules and regulations i.e. compliances that are laid down by the regulatory bodies. 

All telecom operations across the globe are controlled by the regulatory bodies e.g. FCC (Federal Communications Commission) in the USA. FCC lays down the compliances and has sovereign jurisdiction over areas such as fair competition, broadband access, radio frequency utilization, media operations, along with public and homeland security. Hence, it is fundamentally important for MVNOs to have the right OSS Telecom and MVNO billing solutions at their disposal, for which, it is crucial to have the right MVNE supporting your business.

Essential Features of B/OSS telecom and MVNO Billing Solutions

B/OSS telecom model of telecom operation keeps on evolving and so does the telecom billing. Hence, it is essential to employ a telecom services platform that comes with all the essential features to support modern-day telecom operations. Have a look at some of these features:

1.      Compliance adherence – Compliances conceptualized by FCC or other regulatory bodies keep on changing frequently. Therefore, your telecom services software should be able to update itself accordingly and make provisions for the new compliances.

2.      Cloud-based billing system – Nowadays, a cloud-based charging and billing system has become a necessity for telcos. With a virtual environment, you are able to scale exactly as per the requirements and handle peak charging requirements with considerable ease. Also, a cloud-based billing system stores vital customer information at several datacenters, which ensures the safety of information even when one site goes down.

3.      Convergence in billing – A convergent billing platform allows you to create a single invoice that reflects charges of all services. A single invoice is preferred by modern-day customers, especially millennials. Also, it brings in a new transparency into the billing procedure and evokes subscriber interest.

APIs – At any time MVNO and MVNE may require new functionalities to perform new tasks. In such cases, software customization can be quite an expensive proposition. A better option is to partner with an OSS telecom and MVNO billing solutions provider that offers APIs for different business use cases. In situations when you need a payment gateway partnership or a shipping service, you can simply launch the API and instantly start using services of your partnering vendor.

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