The emergence of new devices, services, and applications enables customers to experience a digital reality. The new digital lifestyle has transformed end-users expectations as customers demand various types of services to be charged in real-time, consumed online, and be available whenever they want.
With the advancement of technology, the telecom industry is going through quick transitions. The workflow and requirements keep on changing according to customer and business trends. Any laxity in tending to the ongoing trends can be detrimental to a business operation, and in some cases even lead to the complete breakdown of a telecom operation. Hence, it is essential to incorporate vital functionalities into one’s telecom billing software to avoid failure at all cost.
Of late, telecom billing has become a battlefield filled with landmines. The frequent launch of new technologies coupled with a rise in competition has stretched telcos to their wits end. Emerging technologies like IoT have posed new requirements, which simply cannot be fulfilled with traditional telecom charging system architecture.
It is no secret that telecom operations are changing fast. The rise in competition has brought with itself new requirements that need to be fulfilled by telcos. Regardless of the scale of an operator, the requirements are the same for all. Therefore, everyone connected with the industry needs to pull up their socks and take the emerging challenges head on.
Service delivery value chain has experienced major transitions in the past few years. The rigidness of telcos and their over-dependence on traditional telecom solutions has caused them to lose their dominant position in the value chain.
Cloud-based computing has been particularly rewarding for the IT sector. Its ability to cut down on TCO (Total Cost of Ownership) has been the biggest driver for its mass employment by different companies. But there are other benefits of cloud platform as well, especially for the highly-competitive telecom industry.
Timing is everything in business. A business launched at the right time can be the difference between success and failure of the venture. When it comes to the telecom industry, we are seeing a rapid growth of companies with non-telecom background starting their own MVNOs. Financial institutions like banks are the torchbearers of this MVNO revolution. But for many, this revolution has come way too late.
In the world of telecom, a bill shock is the surest way to lose your customers. You can do everything right, from creating the perfect plan to delivering your services as per expectations, but if your billing is not in place then you are in a world of trouble. Especially for small-scale MVNOs that thrive on supporting small customer bases, an inefficient billing system can sound the death knell for their business. The biggest reasons why many billing systems fail is due to the inefficiency of the OCS. Hence, it makes all the more sense to fix the problem at its source.
The telecom industry is growing in leaps and bounds, and if you want to be on the cusp of all of the new innovation, it’s time to consider starting your own MVNO or MNO.
There are plenty of terms getting tossed around in the telecom industry these days, and one of them is MVNO.
MVNO or mobile virtual network operator is an alternative to traditional data and phone services providers. They act as a refreshing option for people who are sick of the red tape, excess fees and problems that come hand-in-hand with relying on the bigger companies. MVNOs provide data and cell phone services directly to their customers, which makes them a preferable option.