Convergent charging is an essential requirement of modern-day MVNOs (Mobile Virtual Network Operators). It is the holy-grail of billing as it can empower your monetization and billing strategy. The inherent strength of a convergent charging platform lies in its real-time charging functionality, which ensures all the services delivered by an operator are charged accurately.
Covid-19 pandemic outbreak has impacted the fate of many businesses in 2020. However, telecom industry has stood strong in these times, and has allowed people to stay in touch via technology. It does deserve special credit for mitigating the impact by allowing companies to operate via work-from-home model. Despite all the work, telecom industry is still experiencing a trend of reduced revenues, which can be attributed to the excess use of OTT platforms like Skype, Whatsapp, and more recently ‘Zoom’ calling. To counter these OTT platforms, there is an exigent need for convergent charging and more flexible monetization solutions.
In 2021, the telecom industry has high hopes from 5G. The amount of options that 5G presents is endless. Never before, there has been a technology as versatile as 5G. Network slicing allows a single 5G connection to be used for multiple QoS-based networks. Also, the connectivity via 5G has the highest speed and immense potential. But the potential of 5G and other emerging technologies can only be harnessed if you monetize the services via a reliable convergent charging platform.
As we move towards a new year after Covid-19 stricken 2020, the challenges are expected to rise for MVNOs. An MVNO would need an MVNE and a proven telecom billing and charging services provider that can help it in its day-to-day functions.
2021 is a year that promises hope after the disastrous 2020 for the whole world. Telecom industry has stayed a constant factor in the lives of the people, connecting them to each other when they cannot go out. Despite their positive roles in the crisis situations; MNO, MVNE, MVNO have suffered greatly. 2021 offers a chance to get back the lost revenue, but it requires billing and charging platform of the next generation.
The wide array of changes made in the Covid-19 era have been hard to acclimatize to for every single player in the market. Whether it is MVNA, MVNO, MVNE or the big-budget and independent MNOs; everyone has faced great challenges. The outcomes for the entire telecom industry haven’t been positive, which mirrors the situation of other struggling industries.
Modern-day telecom operations have become extremely complicated. The new entrants into the market like MVNO and MVNE often do not get their billing right and suffer in the end. Out of every 10 MVNOs, only 1 makes it big and the rest falter. This can be attributed to their lack of insight in the telecom process and failure to understand the value of a convergent charging system.
Convergent charging has become the basis of almost every telecom business. As billing remains crucial for a telecom business, the role of convergent charging and OCS system is rising in significance. Almost every business strategy that a telecom operator conceptualizes has to be readily supported by the billing system.
Billing and charging are two of the most important functions of a telecom operator. When they are not done right, the results are immediate and you start losing customers faster than you can ever imagine. Therefore, every player in the market including MNO, MVNO and MVNE should get their billing and charging on track, if they want to derive the best results from their efforts.
An Online Charging System (OCS) is the most essential resource for telecom operators. Given the rate of rising competition, it is vital that telcos monetize services in attractive packages and have complete accountability of every single customer service usage.