Set the Right Benchmark for Your Telecom Business with a Versatile Billing Solution

 

Setting a benchmark is not easy, especially in an industry as competitive as telecom. However, you can set a benchmark for yourself that can be followed as a roadmap for future services. Most subscribers love consistent services.

It is the most important fact in the telecom industry. If you can keep a high level in service delivery, revenue assurance and accuracy of billing; you will be rewarded in the end. Despite knowing this fact, many companies are unable to stay in the good books of their customers, and in most cases, a lacking billing solution is the reason for their downfall.

Stagnation is the End of a Telecom Business

Consistency doesn’t mean that you do not have to evolve and peddle the same services. In fact consistency can only be brought about by changing the workflow constantly, and aligning it with current strategy.

In terms of billing, telecom companies have evolved from traditional prepaid and postpaid model to convergent model. The telcos who took longer to make the switch to real-time charging systems either lost their customer base or simply faded away into oblivion.

Implementing a 5G and IoT Billing System

Two of the most prominent technologies in today’s world are 5G and IoT. Both have the promise and power to change the way the whole world functions. IoT can offer utter convenience and 5G provides blinding speed. 5G allows for network slicing, which means telcos can offer several connections over a single physical network connection. QoS based services are a dream made true by 5G. One can implement 5G properly with a monetization system that allows flexibility and an ability to mix and match various plans. For example, telcos can create specific bundles for gamers, video-streaming lovers and low-latency connectivity seekers.

IoT presents a huge challenge because of the sheer number of transactions that take place via IoT connections. A competent IoT billing system is needed to calculate charges and provide bifurcated and accurate bills to the subscribers. Another critical element of IoT is security. As the devices transmit data without direct governance, strong encryption is an absolute must.

Telgoo5 is one of the best billing software solutions in the market that promises a great future for both IoT and 5G services. We also provide turnkey APIs that bring in new functionalities into an existing telecom platform. Our telecom support solutions are constantly supported by a team of experts.