Timing is everything in business. A business launched at the right time can be the difference between success and failure of the venture. When it comes to the telecom industry, we are seeing a rapid growth of companies with non-telecom background starting their own MVNOs. Financial institutions like banks are the torchbearers of this MVNO revolution. But for many, this revolution has come way too late.
In the world of telecom, a bill shock is the surest way to lose your customers. You can do everything right, from creating the perfect plan to delivering your services as per expectations, but if your billing is not in place then you are in a world of trouble. Especially for small-scale MVNOs that thrive on supporting small customer bases, an inefficient billing system can sound the death knell for their business. The biggest reasons why many billing systems fail is due to the inefficiency of the OCS. Hence, it makes all the more sense to fix the problem at its source.
The telecom industry is growing in leaps and bounds, and if you want to be on the cusp of all of the new innovation, it’s time to consider starting your own MVNO or MNO.
There are plenty of terms getting tossed around in the telecom industry these days, and one of them is MVNO.
MVNO or mobile virtual network operator is an alternative to traditional data and phone services providers. They act as a refreshing option for people who are sick of the red tape, excess fees and problems that come hand-in-hand with relying on the bigger companies. MVNOs provide data and cell phone services directly to their customers, which makes them a preferable option.
With telcos facing the heat of competition, we are seeing a marked change in their way of working. Their focus has shifted from just building up their network capabilities to enhancing the experience of customers and they are doing their level best to keep them engaged with new and innovative offerings. Given the current circumstances, a cutting-edge OCS has become par for the course.