An Online Charging System (OCS) is the most essential resource for telecom operators. Given the rate of rising competition, it is vital that telcos monetize services in attractive packages and have complete accountability of every single customer service usage.
The biggest advantage of OCS is that it allows you to capture the revenue streams in an organized and secure manner. It allows for real-time charging, and hence prevents any chance of revenue leakage.
The Essential Requirements of 2020 OCS System
In 2020 and the near future, there is a lot expected from the OCS system. It should fulfill the following requirements of telcos to be considered effective:
Differentiation in charging of services and creation of attractive service bundles
Let’s take an example of broadband services offered by telcos. If the operator is providing telecom services in the future, it should be able to charge customers based on more than just bandwidth. For example, video streaming services could be coupled with a basic broadband plan, and a new service bundle could be created. Or, QoS could be the criteria of charging service. But whatever the case is, it is imperative that the OCS is flexible and intricate enough to segregate different charges and add them accurately to create a fully-itemized bill. Transparency in billing is important, so there can’t be any compromise in the accuracy.
Low expense throughout the usage cycle
The OCS system should offer reduction in capital and operational expense, when it used for a prolonged duration by the operator. It should have a modular architecture, which allows for easy alterations and integration with new systems via open interfaces. There should be an option for self-service, which allows customers to create their own plans. This will reduce the call volume at the call centers and simplify the overall process of service bundle creation. One of the biggest advantages of this initiative is reduction in operational expense.
Brings services quickly to market
The time wasted in launching a service can lead to the loss of a vital opportunity. The centralized service charging ability of Online Charging System allows for the monetization of different telecom services quickly, thereby helping in quick launch of services.
Scope to accommodate IoT and 5G
The OCS that you employ today should be good enough for new technologies like 5G and IoT. QoS network slicing for 5G is essential. And, for IoT, it should be able to handle vast amount of transactions in real-time without any failure.
The OCS system requirements for 2020 are more important than ever before. The OCS system should help telcos monetize services quickly, reduce capex and opex along with providing complete scalability. It should help telcos brace up to the challenge of monetizing evolving tech like 5G and IoT. Most importantly, there cannot be any compromise in the accuracy of OCS charging performance.