In modern-day telecom operations, real-time charging is crucial. There are a plethora of benefits when you use a real-time charging system. The most important are as follows:
Security Updates
The billing solution needs to be protected with the latest encryption. It is important as your real-time charging system contains business-critical customer information that is vital to your business. Look for a real-time charging system that is serious about security. It should offer you regular updates that ensure hackers are kept at bay.
Improved Integration of Network Policies
A real-time charging system that has network policy integration means you can integrate it with PCRF. As a result, the charging system will directly communicate with PCRF — meaning it will consistently update the status of users. Additionally, this will ensure PCRF can enforce different policies according to your charging and billing rules.
This type of integration is useful when clients exceed their allocated minutes or data early in a billing cycle. PCRF’s updates make it easy to enforce throttling and learn about the expiration of allocated quotas. This ensures the client does not incur additional charges or overuse high-speed data.
Stay Relevant With Up and Coming Services
The telecom market has been made extremely competitive with the launch of 5G and expected IoT proliferation. Tracking and billing all telecom services has become a challenge. This means every telecom business needs to deploy a real-time charging system that meets current requirements and is capable of keeping up with any up and coming services.
For instance, upcoming services such as IoT need OTA firmware updates. These updates make sure the consistent operation of connected devices is maintained. At the same time, there are many requirements your telecom business will need to consider before moving to any new billing platform.
Real-time Promotions and Notifications
Imagine a young football fan watching a season game. He/she will get a notification of any games streaming right on their phone at an affordable price. The chance of this kind of client purchasing that service is higher than another individual who is not interested in football.
The only way to make easy this type of tie-up is by procuring a real-time charging system. When you do this make sure it comes with API functionalities. When you partner with a competent telecom services provider offering efficient real-time charging systems, you can sell all services, including OTT and increase your revenues.
Conclusion
The creation of new requirements is a result of increased competition between telecom companies and the evolution of the industry. Above everything else, you need to invest in a versatile real-time charging system. The best option is one that meets current requirements while having the capability of fulfilling upcoming requirements.
The procurement of a 3GPP-compliant real-time charging system is the first thing you should do to prevent revenue leakage. Make sure you also inquire about the above-mentioned features. Such a move will ensure your real-time time charging solution provides proper billing and charging at all times.
Feel free to contact us for any queries or solutions you may need. We have the expertise and experience to ensure your business gets the best real-time charging system in the market.
Note :- PCRF :- Policy and charging rules function