The way the telecom industry works these days, launching the best service does not always translate into profits. It is your ability to understand the pulse of the market and launching plans at the right time – before your competition – is what clinches the deal with the customers. Especially if you are an MVNO or a small player in the telecom industry, you do not always have to spend millions before you taste success. The sweet recipe of success lies in partnering with the right telecom billing systems vendors who have top telecom billing systems to back your vision.
Top Telecom Billing Systems: What to Look For?
All telecom billing systems vendors promote their billing systems in the best possible way, which makes it very hard for anyone to select the one that fits their requirements. Below is a guide that can help you make the right decision:
- A billing system that allows for monetization of all the present and future services/partnerships – Telecom industries’ major revenue stream i.e. calls and SMS have almost reached a saturation point in terms of growth. Data speed is also supposed to reach its apotheosis with the full-fledged launch of 5G. With vertical growth almost complete, it’s time for the operators to look elsewhere. As OTT (Over the Top) services grow in appeal, this is the right time to partner with vendors that have rich media content. Also, it is time to focus on rampant technologies like IoT, which is supposed to grow leaps and bounds in the coming decade. Hence, you need a telecom billing software solution that lets you monetize your future partnerships. The quicker your billing solution can be tuned in with the new services, the faster you will be able to launch your plans.
- A billing system on the cloud – Cloud computing has become a major phenomenon in the IT industry and it is high time that the telecom industry makes the most of it. Moving your billing to the cloud has two major advantages: scalability and security. A scalable telecom billing system allows you to launch multiple combinations of services in different packages to different regions. You can even test the impact of your plans by first launching a pilot plan for a restricted user base and then upon tasting success, you can increase the scale to meet the requirements of a larger base. On top of scalability, top telecom billing systems provide you more security than any in-house billing system. In case, one of the sites where your billing information is stored is compromised, you always have the option to fall back on another site.
- Backward compatible and quickly launch able billing system – Unlike bigger players in the market, MVNOs do not have the luxury of biding their time and being non-operational while they migrate to a new billing system. Therefore, you should associate with telecom billing systems vendors that can hold your hand and offer support while you change your billing system. Also, it is essential that the billing system is backward compatible with your older services, so you do not suffer losses during the switch.