Service delivery value chain has experienced major transitions in the past few years. The rigidness of telcos and their over-dependence on traditional telecom solutions has caused them to lose their dominant position in the value chain.
Also, we are seeing a rise in competition in the telecom industry like never before. The launch of new MVNOs every other day has cramped up the telecom market and many operators are vying for a limited subscriber base. Emergence of new technologies like IoT, 5G M2M along with virtual network services has further complicated the task of established telecom operators.
The Need for DSP Transformation
The best way to meet the emerging requirements for CSPs is to start a digital transformation. By becoming a DSP, it would be possible for you to adapt to the changing market a lot easily and launch new services according to the evolving requirements of the customer base. Also, partnering with different vendors will become simpler, all thanks to the APIs available for digital services providers that use a real time charging system.
Creating the Conditions for Smooth Digital Transition
Digital transformation cannot be made in one single step. Firstly, you need to create the right conditions to make a move to digital platform smooth. One should realize that digital transformation must extend to every facet of the business for it to be effective. Below are some steps that can help you form a baseline to facilitate digital transformation:
Centralize product catalogCentralizing product catalog allows you to improve customer lifecycle management. A single central hub for digital services becomes the reference point from where you can provision and deliver your services. With such a system at your disposal, you can remove separate legacy databases, which may hamper service creation and fulfillment. A centralized product catalog makes your work simpler in more than one way.
Network visibilityTo ensure proper delivery of telecom services, it is best to have a complete view of the network elements at all times. Once you have a full view, you will able to monitor the network performance at every stage. An OCS that performs real time charging and comes with analytical capabilities can provide you foresight about future state changes that can help you make better proactive decisions.
Improved data intelligence for better customer experienceEvery customer’s journey is different. Variation in demographics, service-usage pattern, billing preferences need to be monitored and analyzed for providing them a better experience. Therefore, data intelligence for understanding customer lifecycle needs to be used.
Automated provisioningReducing the need for human actions is a vital step for complete digital transformation. To accomplish this, configuration and installation of all devices needs to be done automatically. Not only this reduces the cost of operation, it also makes the process error-free.
The Need for a Cutting-Edge OCS
An OCS is the real-time beating heart of any BSS system. It performs real time charging for all services and provides you a unified view of all the services. To ensure proper digitization, a quality OCS is an absolute must. Also, the OCS should be 3GPP compliant to prevent revenue losses due to inaccurate charging.
For any MVNO or full-fledged telecom operator to be successful in the future, digital transformation is an absolute must. However, it should be understood that digital transformation cannot be done overnight. Firstly, you should think about creating the conditions that will help you make a move to digital. The tips provided in this blog can be used for creating those conditions. Also, it is imperative that you utilize a cutting-edge OCS system for making the transition smooth.