There is no denying the fact that the telecom industry is evolving at a rapid rate. The influx of newer services is happening quickly, and with it, the competition is growing manifold. To address the challenge posed by the competition, telcos have changed their approach from product-centric to customer-centric. In the present state of the telecom industry, customers hold all the power when it comes to making a brand or destroying it completely. This is the main reason why; it is essential to invest in a telecom billing software solution that helps you launch innovative services that can evoke interest in customers.
Digitalization: The Future of OSS and BSS Services
In the present, the millennials combine to form a major chunk of the telecom subscriber base. People in this age group saw the rise of digitalization in their adulthood, which is why; they want faster-digitalized services without any compromise. During this section of your subscriber base is a tough task, especially if you are still using traditional OSS and BSS services.
OSS and BSS services worked well at a time when voice and SMS were the only telecom services in circulation. However, nowadays, the requirements have changed…and that too in a big way. With an ever-rising threat of OTT platforms that are eating away at the profits generated by telecom operators, the need for innovative telecom billing software has risen.
The Important Characteristics of Your Next Telecom Billing Software
The breathtaking pace at which the telecom industry is evolving requires you to think on your feet and think fast. The best way to counter the competition is by evolving into the role of a digital services provider from your current role as a traditional telecom operator. However, to become a digital services provider, you need a telecom billing software that has the following characteristics:
- 1. Support for future technologies – With traditional billing systems, it is tough to bill accurately for the current services. And, as the future appears filled with new opportunities and technologies, you require a solution that has provisions for billing IoT, OTT and 5G services. There is a need to overhaul the traditional OSS/BSS paradigm and employ a flexible solution that expedites your new plans and offerings. It is a well-known fact that a telecom billing software that helps you launch your services before your competitors provides a quick-fire way to success.
- Customizability – Each customer base has its own preferences. To ensure that you are able to offer tailor-made services to meet the requirements of your customers, it is best to procure a telecom billing software that can be customized as per your requirement.
- Analytics – In this age of information, data analytics are crucial for understanding the preference of customer. Hence, you should always procure a software solution that has good analytics capability, so you can improve your offerings as per customer interest.
- Security – As OSS/BSS holds critical customer information, you need to make sure that your telecom billing software has the necessary security measures to counter the threat of hackers.