Modern-day telecom operations have become extremely complicated. The new entrants into the market like MVNO and MVNE often do not get their billing right and suffer in the end. Out of every 10 MVNOs, only 1 makes it big and the rest falter. This can be attributed to their lack of insight in the telecom process and failure to understand the value of a convergent charging system.
Billing is the King
B/OSS functions and telecom billing form the crux of telecom operations of today. Business and operations are controlled by the B/OSS while the billing functions are rendered via telecom billing systems.
Although it is essential that you focus on BSS and OSS, billing is something that can really make a huge difference because:
- Customers are very informed and price conscious these days
- They want complete transparency in the billing process
- They do not expect mistakes from you in billing and might move elsewhere if the billing is substandard
Companies that do not have a robust online charging solution often fail to meet the expectations of their customers and fall at the first few hurdles. On the other hand, an MNO or MVNO that prioritizes its billing often succeeds.
Online Charging System is the Key to Success
A true real-time Online Charging System (OCS) can prove vital to your billing and charging as it can perform the following tasks:
Keeps your billing accurate
A true real-time OCS charges services based on the length of session or number of events. This pretty much covers the entire list of services. All the transactions that customer makes and all the services that he uses are captured in real-time by the OCS. There is hardly any room for error. As a result, customer always gets the correct bill at his doorsteps.
Enforces credit limits
A customer might exceed his credit limit and incur additional charges. This can lead to all types of disputes in your customer support. But an OCS has the capability to send timely notifications to the customers right at the moment their credit limit expires, thus preventing them for additional charges.
Allows for quick monetization
Almost every telecom operator is trying to woo customers with exciting plans. But a major hurdle in planning and executing is the time it takes for the conversion of that plan into reality. But with a cutting-edge OCS as part of your telecom billing systems, it becomes easier to launch exciting plans, attractive discounts and innovative service bundles to lure customers.
Summary
To improve customer trust, a telecom operator needs to ensure accurate billing of every service. Apart from B/OSS functions, telecom billing is the biggest area of concerns in today’s time. An online charging solution can immediately improve your billing and at the same time allows you to come up with attractive service packages for your customers.