Billing and charging are two of the most vital functions for MNOs, MVNOs and MVNE. While the bigger companies have vast resources to implement billing and charging system as per their specific requirements, the smaller companies struggle to keep up with them. Nowadays, the pressure is intense when it comes to the competition between different telecom companies. If you are not supporting your customers on time, and not providing them the required support, you are likely to lose ground.
Widen your Vision and Expand Service Catalog
Even the smaller players in the market are not safe unless they are ready to go the extra mile to meet customer demands. In the past, MVNOs used to succeed because they had a few core services that were economically priced and loved by a restricted but constant user base. But that is not the case anymore. With the coming of IoT and 5G, the telecom services catalogs are expanding at a fast rate. Even the humblest of customers are looking to subscribe to better offerings. 5G has great potential in terms of changing the game altogether as it comes with network slicing feature. IoT is making lives better as we speak. So, it is logical for customers to be drawn towards these services. If you are not growing and adding these services into your catalog, the chances are that the customers will leave you before you can ever imagine.
Considering the current situation, it is important to be long-sighted and add all the essential services in your catalog. With a convergent charging system, this is entirely possible.
Essential Features of Online Charging System in 2021
Whether you are an MNO or MVNO, the relevance of Online Charging System is there to see. An OCS performs charging of services in real-time and allows you to charge both event- and session-based services. As a result, it allows you to account for every telecom service at the same point, thereby providing you an option to send consolidated bills to the users. Not only that, it provides you another essential advantage in revenue assurance. In terms of revenue assurance, the OCS simply has no peer. Every service can be delivered as per the SLA because OCS is nearly flawless. A 3GPP compliant OCS like the one offered by Online Charging System has a real-time link with PCRF. Therefore, the chances of discrepancy in service used and service charged are next to nil.
Summary
The Online Charging System is catered to the requirements of modern-day subscribers. It performs real-time charging flawlessly, which ensures complete revenue assurance. OCS also ensures accurate credit limit implementation and allows you to sell next-gen technologies such as IoT and 5G.