Billing and charging are two of the most important functions of a telecom operator. When they are not done right, the results are immediate and you start losing customers faster than you can ever imagine. Therefore, every player in the market including MNO, MVNO and MVNE should get their billing and charging on track, if they want to derive the best results from their efforts.
Stay Ahead of Competition with OCS
A telecom operator is no longer simply a provider of service. It is much more than that. A modern-day telco has to do much more than just deliver staple services. It also has to innovate and come up with new interesting solutions.
Sometime ago, we had separate systems for charging and rating telecom services e.g. IN and OFCS for prepaid and postpaid respectively. The service delivery was slow, but the profits were still high as telecom industry hardly had any competition. But now, things have changed.
Due to the competition from Over the Top (OTT) vendors and increase in the number of players in the market, we are at a juncture where things have become complicated for telcos. Nothing less than a real-time Online Charging System (OCS) will be sufficient to fulfill modern-day requirements of billing and charging.
How an OCS Helps MNO, MVNO and MVNEs?
A true real-time OCS can be the difference between the success and failure of your telecom operation. Below are some positive impacts of a quality Online Charging System:
Better Analytics and Reporting
A company providing you Online Charging System should also provide you analytics and reports. The analytical data can be put to good use in planning ahead and conceptualizing service packages that appeal to the general audience.
Quick Monetization of Services
No matter how much you know about your customers, you need to monetize your services faster than your competitors; if you want to generate high revenue. The OCS should allow you to stack up different services in any order and also combine distinct services. It is also vital that the monetization and billing is done accurately, so that there is clarity between vendors and customers.
When the data or calling minutes are about to expire for a particular customer, the OCS should send timely notifications. Enforcing credit limits diligently is crucial for staying in the good books of your customers. The best OCS systems send instant messages on the customers’ phones, so that they stay aware of how much data or calling minutes they have left in their account.
A true OCS is needed to stay ahead of your competitors in the modern times. With a quality Online Charging System, you can enforce credit limits and charge your customers accurately. The market is all about trust these days, and if you have a good Online Charging System, then you can increase trust amongst customers and generate more revenue for your business.