There was a time when telecom industry was a really profitable domain. It was the time when voice and SMS were staple services with a few VAS offerings providing the much-needed variation. Every telecom operator was making profit without making any excessive efforts in its telecom billing services or OSS and BSS services. Not anymore though…
With competition increasing from every direction, and Over the Top (OTT) platforms becoming a reality, the situation has turned for the worse for operators. While subscribers are enjoying services at a slashed price, the telcos are busy looking for worthy alternatives.
Need to Exploit Every Advantage Possible
The situation is so competitive that every second MVNO is fading away before completing its first year after launch. Only those survive that have an innovative strategy and are backed by a telecom billing specialist that knows what it is doing.
Below are some aspects of modern-day telecom operations that need to be exploited to their fullest, if you want to turn profit in the competition of today:
Quick time to market with convergent billing
It is always about how fast you are able to take your services to the market, which ultimately decides how you will fare in the competitive industry. Convergent billing enabled by top-class telecom software solutions that are themselves powered by a real-time OCS are key requirements. Not only that, convergent billing is also more accurate than traditional methods and brings in transparency into billing. The only catch with convergent billing is that it takes time to implement. If you are moving over from legacy systems, ensure that you have a capable telecom services vendor as your partner.
Covers the scope of emerging technologies
It is expected that new technologies and services will inundate the market anytime soon. With 5G and IoT bearing down, you need a system that can adapt to the rapid changes in the future. For IoT, you would require a telecom support provider with cloud-based telecom services who is capable enough to crunch millions and millions of transactions. For 5G, you would need a vendor that can implement network slicing as per QoS, and help you expand the outreach of your MVNO.
APIs for integrating new systems, databases and vendor partnerships
In future, you would require new partnerships in order to stay competitive. Application Programmable Interface (API) provides the answer to unforeseen requirements, as it lets you connect with the required vendor via a plug and play installation. For example, you can connect easily with a shipping vendor for distributing SIMs or add a new payment gateway as and when required.