Customers these days have become extremely choosy when it comes to picking their telecom services provider. With so many options available due to extreme competition in the industry, they look at both cost and quality of service to make up their mind. But, one lesser known fact that they secretly value and many telcos disregard, is the importance of telecom invoicing. The invoices that are sent across to the subscribers tell them a lot about your pedigree. Whether a customer would stick to your service or move on to someone else depends a lot on the phone billing software and the invoices it generates.
The Need for Convergence in Phone Billing Software
For a phone billing software to be successful at generating invoices that are actually liked by the subscribers, convergence in billing is a very important criterion. Convergence – implemented via a centralized charging platform like OCS – allows for the bifurcation of service charges into categories that are intuitively understood by customers. Also, convergence offered via a true real-time charging platform allows for complete transparency and builds customers trust in the service provider.
The Virtues of Successful Phone Billing Software
A phone billing software should be good at a number of things, in order to be effective. Below are some criteria your phone billing software must pass to have a positive impact on your customers’ mindset:
It should manage recurring subscription invoicing effectively
Subscription billing is the bread and butter of most telecom operations. With so many service offerings in the mix, the chances of error may increase with a substandard software solution. On the other hand, a quality phone billings software solution like Telgoo5 can handle recurring service charges, refunds, renewal of services and discounts effectively without putting too much pressure on the operator.
Automation is the key
One can’t expect to monitor telecom billing at every step of the way, when there are so many other core telecom operations to take care of. Telgoo5 is a fully-automated phone billing software that eliminates the errors commonly found in manual billing procedures and makes the task of MVNOs and MNOs considerably simpler.
Provide complete reporting
Analyzing customer behavior and billing performance over a service cycle allows telcos to create effective future strategies. Telgoo5 provides a custom slave database to its client, which is directly updated via a centrallized master database. The database provides all the reports and allows MVNOs/MNOs to run them as many time as they want.
Allows for easy integration
Every telecom operator is unique and has its very own software and databases platform that it requires to connect with the phone billing software. Telgoo5 makes this task simple by providing several user-friendly APIs, which can be launched quickly and allow for seamless integration. For example, NLAD database can be integrated conveniently into clients’ databases to access important customer details. Or, a client can employ an existing service delivery partnership for sending its SIM cards across to its subscriber base without going out searching or a new partner.
Monetization of emerging technologies and complete scalability
The innovation in telecom industry is at an all-time high, and telcos have to frequently launch new services about which they might not have sufficient knowledge. Technologies like 5G and IoT are humongous in their scope and require considerable expertise. So, to expand in these new and unexplored verticals, telcos require a phone billing software solution that can monetize such evolving technologies within a particular timeframe. A failure to monetize these services in time is fraught with the risk of losing out on revenue to competitors.
Summary
Telecom industry is in a state of flux due to an excessive rise in competition and launch of frequent service innovations. Therefore, telcos – both big and small – are trying to attract maximum number of subscribers in any way possible. Telecom billing/invoicing provides a great opportunity to MVNOs/MNOs as it immediately lets them win their trust.
Telgoo5 is an exceptional phone billing software platform that is designed to meet existing and emerging telecom industry requirements. It comes with multiple APIs and employs a centralized and real-time Online Charging System (OCS) to make billing tasks simpler for telecom operators.