Telecom industry is going through fast transformations. Many telcos are lost for ideas as they look for new billing systems to meet their emerging requirements. However, frequent changes are not ideal for a telecom operation. Not only it leads to instability, it also impacts the financial wherewithal of an organization.
In this day and age, choosing an inept telecom billing system is a big sin. The biggest reason why telcos struggle to launch their services in time is a lacking billing system that does not let them stack up services as per their choice.
7 Telecom Billing Sins and How to Avoid/Fix Them
More often than not, telecom operators are swayed by the price of a telecom billing OSS system, which is why; they end up with a sinful telecom billing software solution. It is best to identify these sins to ensure your monetization of services and telecom billing is performed as per expectations.
- Lack of security – Vital subscriber account information is stored in the ABMF (Account Balance and Management Function) of the OCS (Online Charging System). With your OCS on the cloud, this information is susceptible to hack attacks. Therefore, you need to choose a telecom billing system fortified with the latest security measures. There is simply no compromise on this feature. Never commit the sin of undervaluing security.
- No scalability – A billing system that seems sufficient today may not be good enough tomorrow. If it does not scale with your growing customer base, you would not be able to address the requirements of your new customers. Any chance of growth will be neutralized with a non-scalable telecom billing system, so avoid such systems at all cost.
- No itemization and convergence – Customers of today are choosier than ever before. They want their invoice to come with all charges printed on a single piece of document. This enhances transparency and ensures better dispute resolution. Without this feature, your customers and customer support system will suffer a great deal. Refrain from committing this sin and enjoy good customer relationships.
- Lack of analytics – With AI emerging as the next big thing, you cannot afford to not use its power. If you are not using AI-powered analytics and your competitors are, then you will not be able to make intelligent decisions based on valuable market-related insights. A huge sin in this day and age!
- No support for future technology – As IoT and 5G boom beckons, you need to be prepared with effective monetization strategy for your new services. A billing system that is not designed to meet the new requirements is nothing but a waste of money. Think ahead and avoid partnering with short-sighted telecom billing vendors. Eminent telecom billing services provider like Vcallglobal are whole-heartedly dedicated to the cause of supporting future technologies.
- No provision for innovative discounts – Innovative discounts provide a sure-shot way to evoke customer interest in your subscriptions. Do not settle for a telecom billing system that does not allow for flexible and creative discounts. Ensure that your billing system has the capability to provide any type of discount you want.
- No 24×7 support for billing system – Regardless of how good your billing system is, there will be times when you would need support on urgent basis. At such a time, you would need someone to fix the issue quickly. Therefore, never commit the sin of employing a billing system with anything less than 24×7 support. With a telecom billing partner that is willing to answer your call at any time, you can reduce the uncertainty that goes hand-in-hand with a telecom billing operation.