Convergent charging has become the basis of almost every telecom business. As billing remains crucial for a telecom business, the role of convergent charging and OCS system is rising in significance. Almost every business strategy that a telecom operator conceptualizes has to be readily supported by the billing system.
Automation in Telecom Billing
Manual implementation of telecom operations is no longer sustainable. The scope of telecom technology is growing at a rapid pace. If yesteryears manual methods are used, the whole telecom machinery will move at snail’s pace. And this can be debilitating for a telecom business.
Automation and analytics are two key aspects of modern-day telecom billing. An Online Charging System (OCS) lays down a strong foundation for telecom billing as it offers true real-time performance. A cutting-edge OCS can:
- Charge services in real-time
- Enforce credit limits accurately
- Charge services according to the number of events and sessions
- Provide a single-point charging solution for all services
- Maintain subscriber account balance
- Keep customer information secure
- Allows for large-scale charging and supports next-gen technologies like 5G and IoT
Establish a Single View of Customer for Billing Transparency
The number of telecom services offered by a telecom services provider are increasing at a rapid rate. The expansion is both vertical and horizontal. To keep tab of different services and bill them accurately, a convergent charging system is required by an MNO, MVNO or MVNE. As we have already learned that an OCS system can charge every service at a single point, it allows for the creation of a unified and itemized invoice.
It is possible to create a single invoice that gives customers a single view of all service charges. Therefore, there is complete transparency between the subscriber and the service provider. It helps in building a trustful relationship, which is vital for success and growth.
Revenue Assurance is Key
In this age of complex compliances and regulations, it is imperative that telcos provide complete revenue assurance i.e. they deliver the service exactly as per the agreement with the customer. A top-class OCS ensures revenue assurance, and allows telcos to focus on the creative aspect of their service. For small operators and MVNOs, revenue assurance can be very challenging, which is why; the role of OCS is even greater.
An OCS system that performs well in the present and allows for the integration of new features in the future can become a major asset for telecom operators. It can free their mind off complex billing tasks, so they can focus on the marketing and promotional aspect of their business, and come up with innovative strategies to attract customers.