Why Choosing the Right Billing Provider is Crucial for MVNO Success

The mobile virtual network operator (MVNO) industry has experienced significant growth in recent years, providing an alternative for businesses and entrepreneurs looking to enter the telecommunications market without investing in extensive network infrastructure. However, for an MVNO to thrive and achieve long-term success, selecting the right billing provider is of utmost importance. This article explores the crucial role that a billing provider plays in the success of an MVNO and highlights key considerations when choosing the right partner.

The Role of Billing Providers in MVNO Operations:

Billing providers are essential partners for MVNOs as they handle critical billing and revenue management processes. Their primary responsibilities include:

a. Subscriber Management: Billing providers facilitate subscriber management by handling activities such as subscriber onboarding, activation, and deactivation. They ensure accurate and timely provisioning of services, which is crucial for MVNO success.

b. Billing and Charging: Accurate and efficient billing and charging processes are vital for revenue generation. Billing providers enable MVNOs to invoice customers accurately, process payments, and apply charges for services utilized. They handle rating, mediation, and invoicing activities to ensure accurate revenue recognition.

c. Revenue Assurance: Billing providers help MVNOs safeguard their revenue streams by implementing robust revenue assurance processes. They monitor revenue flows, detect discrepancies, and prevent revenue leakage, ensuring the financial health of the MVNO.

d. Customer Support: A good billing provider offers comprehensive customer support, addressing billing inquiries, disputes, and payment-related issues promptly. This contributes to a positive customer experience, enhancing customer satisfaction and retention.

Key Considerations When Choosing a Billing Provider:

Selecting the right billing provider is critical for MVNO success. Here are key factors to consider during the decision-making process:

a. Scalability and Flexibility: An MVNO's billing requirements evolve as the business grows. It is crucial to partner with a billing provider capable of scaling with the MVNO's expanding customer base and adapting to changing business needs. Look for providers with flexible billing models and the ability to handle complex billing scenarios.

b. Robust Billing Functionality: Evaluate the billing provider's feature set to ensure it covers all necessary functions, including rating, invoicing, taxation, payment processing, and reporting. The billing platform should be capable of supporting various pricing plans, promotions, and discounts to meet the MVNO's unique requirements.

c. Integration Capabilities: Seamless integration between the billing provider's systems and the MVNO's core network infrastructure is essential. Evaluate the provider's APIs, compatibility with different network elements, and their ability to integrate with existing systems and processes. A well-integrated billing solution reduces operational complexities and enhances efficiency.

d. Billing Accuracy and Reliability: Accurate billing and revenue recognition are paramount for an MVNO's financial success. Assess the billing provider's track record and reputation in the industry, looking for accuracy in billing calculations, timely invoicing, and reliable revenue reporting. A reliable provider ensures revenue leakage is minimized, supporting the MVNO's profitability.

e. Analytics and Reporting Capabilities: Data-driven insights are crucial for making informed business decisions. Consider billing providers that offer advanced analytics and reporting functionalities. These features enable MVNOs to gain valuable insights into customer behavior, revenue trends, and service utilization, aiding in the development of targeted marketing strategies and pricing plans.

f. Security and Compliance: The billing provider should prioritize data security and comply with industry regulations. Look for providers with robust security measures in place, including data encryption, access controls, and compliance with privacy laws. Additionally, ensure they are Payment Card Industry Data Security Standard (PCI DSS) compliant if handling payment card data.

g. Cost and Pricing Structure: While the cost is an important consideration, it should not be the sole determining factor. Evaluate the pricing structure of potential billing providers, including setup fees, transaction charges, and ongoing maintenance costs. Consider the value offered in terms of features, scalability, and customer support, striking a balance between cost and quality.

Benefits of Choosing the Right Billing Provider:

Partnering with the right billing provider can yield several benefits for an MVNO:

a. Enhanced Efficiency: A robust billing solution automates time-consuming processes, reducing manual intervention and minimizing errors. This enhances operational efficiency, allowing MVNOs to focus on core business activities.

b. Improved Customer Experience: Accurate and timely billing processes contribute to a positive customer experience. With a reliable billing provider, MVNOs can offer transparent billing, personalized plans, and seamless payment options, increasing customer satisfaction and loyalty.

c. Revenue Optimization: The right billing provider helps MVNOs optimize revenue streams by minimizing revenue leakage and providing insights into revenue-generating services. This facilitates effective pricing strategies, promotions, and upselling opportunities.

d. Scalability and Growth: A billing provider that can scale with an MVNO's growth enables seamless expansion and adaptation to changing business needs. This scalability supports the MVNO's ability to attract new customers and enter new markets.

e. Regulatory Compliance: By partnering with a compliant billing provider, MVNOs can ensure adherence to industry regulations and mitigate legal risks. This safeguards the business and its reputation in the market.

Conclusion:

Selecting the right billing provider is a crucial decision that can significantly impact an MVNO's success. With the right partner, an MVNO can streamline billing processes, enhance customer satisfaction, optimize revenue streams, and ensure regulatory compliance. By carefully evaluating potential billing providers based on scalability, functionality, integration capabilities, accuracy, security, and cost, MVNOs can make an informed choice that sets the foundation for long-term success in the dynamic telecommunications industry.

What Is an Internet of Things (IoT) Service Provider and How Can They Benefit Your Business?

The Internet of Things has recently been a popular topic in the media. The concept of millions of different gadgets operating automatically inside a worldwide network is around three decades old.

The Internet of Things has numerous undeniable advantages which are discussed further in this article.

Internet of Things Service Providers: A Definition & Explanation

The Internet of Things (IoT) is a network of devices equipped with sensors, software, and other technologies to connect and exchange data with other devices and systems over the internet.

It's all about streamlining internal operations. Manufacturers can make better judgments and build more efficient processes by combining all of their data in one location.

Internet of Things (IoT) services is a set of end-to-end services in which organizations hire outside companies to design, build, install, and run IoT solutions, as well as provide advisory services for IoT planning. One such IoT service provider that can serve for your business is Telgoo5. It’s a SaaS based end-to-end telecom platform that meets all your BSS and OCS needs.

7 Crucial Benefits of IoT Services for Your Organization

Here are the 7 benefits of IoT services that can be very crucial and significant for your organization:

1.        Simple jobs can be automated with IoT, reducing the number of workers and lowering business costs.

2.        Control can be automated across multiple operating areas to track the location of equipment and goods.

3.        Smart technologies limit the possibility of human error at many stages of business operation.

4.        IoT supports businesses by collecting large amounts of user-specific data that may be used to develop business strategies.

5.        IoT increases customer service by allowing for post-sale follow-ups like automatic tracking.

6.        IoT technology provides businesses with more insights, fewer downtime, and more capacity to detect loss to give users a better experience.

How to Choose a Reliable IoT Service Provider for your Business

There are several variables to consider while selecting an IoT service provider.

1.        Your IoT service provider must offer scalable services.

2.        Your IoT solution provider should engage with you to assess your company’s needs and choose the best connectivity service.

3.        The IoT platform must be able to deliver data to any application quickly.

4.        To accommodate additional devices and reduce latency, the IoT service provider must accommodate a protocol with expanded capabilities.

5.        The provider of IoT solutions must make use of comprehensive security measures

6.        Compare the prices provided by different companies and choose the one that best meets your needs.

7.        The dashboard should allow you to manage how different IoT devices communicate with one another.

A good option that covers all of them is Telgoo5. It will serve as a reliable IoT service provider for your business.

4 Crucial Mistakes to Avoid When Searching for an IoT Service Provider Online

If you're considering an IoT solution, here are four mistakes to avoid:

1.        The implementation of technology raises security problems.

2.        Not putting the interests of the company first.

3.        Not having a backup plan for outages.

4.        Not having a strategy for updating and replacing devices.

Conclusion

IoT systems have tremendous capabilities, and their benefits are appealing. However, it is important to recognize that integrating IoT into a company requires a significant amount of effort and talent in order to reap the benefits while avoiding the drawbacks. Telgoo5 enables you to do to that all at one place. It’s a hassle-free tool for all the IoT services required for your business.

Serve Every Market Better with Superior Billing Support Systems

Telecom operators have evolved over the years from being product-centric to customer-centric. The shift in approach hasn’t actually changed the way things are done on a technical level, but it has transformed the business aspect considerably. Whether it is a fully-functional CSP (Communication Service Provider) e.g. Verizon or just an MVNO (Mobile Virtual Network Operator) e.g. Liberty Wireless, the change in business model is pretty evident. Especially the smaller players i.e. MVNO are increasingly focusing on the customer experience who are using their services. With MVNE (Mobile Virtual Network Enabler) handling their requirements on technical front, they are more concerned about the more visible aspects such as billing support systems.

Improving the Customer Experience with Better Billing Support Systems

A Billing Support System is the most important piece of software in the repertoire of telecom operators. It allows them to alter their monetization strategies, offer a better point of sale and at the same time improves revenue assurance.

Essential requirements of modern-day billing systems:

Real-time charging

At the least, every MVNO should have a real-time charging platform. Such a platform is an integral part of telco strategy in the modern times. It allows for consolidated billing service, which is an absolute must-have. As almost every operator nowadays deals in more than one telecom service, it makes no sense to send separate bills. Especially when your competitors are already using convergent billing, you cannot afford to stay behind the 8 ball. A real-time charging system offers greater revenue assurance and allows you to bill prepaid, postpaid, broadband services at the same place.

Greater control over monetization strategy

The complexity of telecom domain is rising as we speak. There is no avoiding the technicalities if you want to be successful in the domain. Hence, it is essential that you have an intuitive telecom billing platform that allows for greater control over monetization. You should be able to monetize every service at the same place and serve your customers better. For example, intuitive platforms like Telgoo5 abstracts you from intricacies such as interconnect billing, tax application, vendor partnership payments etc. All you need to do is mix and match different services to create telecom services plans that appeal to your customer base.

Not only that, a real-time charging system also implements credit limits accurately. It means customers get timely alerts when they are about to exceed their allotted quota. Also, you are provided APIs, which offer turnkey solutions to emerging requirements. Whether you are a Data MVNO or a dedicated ioT services provider, Telgoo5 can do wonders for your telecom services.

Improvise with Innovative Monetization by Using Top Billing System Software

Monetization and billing hold special place in the day-to-day operations of telcos. There are many promising technologies in the market that need to be packaged and delivered in an innovative manner. 5G and IoT are two key technologies that need to be delivered in an attractive manner to the customers. These technologies put heavy burden on the shoulders of telcos, especially Data MVNO and other smaller players in the market.  An intuitive billing and provisioning software solution is needed.

Transform Plans into Action Faster

The whole marketing team of a telecom operator tries to exploit market conditions. This is done by analyzing the immediate needs of customers and coming up with plans that fulfill those needs.

Operating a Billing System Software Solution is not the easiest thing to do. To devise a plan, many configurations need to be tweaked. A telecom system should allow for the different tweaks and should be intuitive enough, so that a less technically sound operator can also make the changes.

Real Time Charging For Maximum Impact

A telecom operator needs to get his basic rights if he wants to make the maximum impact with his plans and offers. A real time charging is the minimum requirement in today’s time as it helps in:

Convergent charging for consolidated billing

As both event-based services like SMS and session-based services like voice call are charged at a centralized location i.e., an Online Charging System, it becomes easier for telcos to create consolidated bills. All the charges can be reflected on a single invoice. Consolidated billing provides the necessary incentive for subscribers to stay with a single operator. They can subscribe to voice, SMS, data, broadband and even video streaming services as part of a single vendor partnership. The simplicity and convenience of Convergent Charging is crucial for a modern-day telecom operator.

Accurate implementation of credit limits

If a telecom operator is also performing the role of an IoT billing provider, the implementation of credit limits becomes even more important. Customers of today want complete transparency and do not want to pay a dollar extra. A real time charging platform keeps complete track of every transaction and ensures customers are sent timely reminders about their quota completion. Whether it is prepaid or postpaid services, real time charging is crucial in today’s time.

Revenue assurance

Ensuring proper revenue is the main concern of a telecom operator. Top billing systems like Telgoo5 are unwavering in terms of accuracy of charging. Hence, there is complete accountability for every service and total revenue assurance.

Telgoo5 provides a reliable platform, which is easy to use and completely accurate. It allows telcos to monetize their services in any way, shape or form with minimal efforts.

Is Your Billing On Point

Billing is one of those things that businesses sometimes don’t give a lot of thought to, but smart companies in the telecom industry know that consistent and accurate customer billing is one of the cornerstones of a successful MVNO.

Some MVNOs handle billing in-house, tasking one or two staff members with what should realistically be the job of an entire department. The truth is, your if your billing is not on-point, your customers will suffer and look for other MVNO’s to get their service from. Since telecom billing is notoriously tricky, smart companies trust their billing to expert MNVEs.

Look For Flexibility

The telecom industry is always shifting and changing, which puts MVNOs in a challenging situation when it comes to billing, especially if they are poised to start scaling. As you get more end customers, your billing needs are going to adapt to different business situations. You need an MVNE that can adapt with you and offer real-time solutions to your customer’s needs. Smaller organizations simply don’t have the bandwidth to be able to support the level of growth that most MVNOs will experience, leading to customer frustration and annoyance on the part of the MNO.

At Telgoo5, we understand the importance of flexibility and ability to scale. Our sophisticated infrastructure was built to withstand shifting company demands and rapid scaling. What’s more, we can offer all of our MVNO partners CRM and BSS as well as a real-time view of business performance and trends!. Many of our long-term MVNO partners are US based companies that love working with us because they know that they will be able to scale with us and, we will be there to support their needs in a prompt and outstanding manner!

Look For Added Value

If you have an in-house billing department, or if you contract out to a smaller or less flexible MVNE, you won’t necessarily get bare-bones service, but you also won’t get all of the perks that come alongside working with a company that can address all of your needs on multiple fronts. Distribution and inventory management goes hand-in-hand with billing, and if your chosen MVNE doesn’t have the capacity to handle all three, you’ll have to find another one to attend to these services. Anyone who runs a business knows that dealing with multiple vendors can be costly and time-consuming.

Telgoo5 offers distribution and inventory as value added services to their billing plan, so you won’t need to be hopscotching between different vendors to get your customers the services that they need. With us, you can rest easy that it will all be handled in one secure, professional place!

Support Is Key

It’s hard to over-emphasize the importance of quality customer and tech support. You and your chosen MVNE are a team, and it should feel like a partnership. This is especially true if you’re scaling, taking on new customers or dealing with additional products. Customers depend on detailed, accurate and itemized bills for their telecom service, so you need to know that your MVNE has your back. That’s why you should be in regular contact with your MVNE about billing and other areas of your business.

At Telgoo5 we pride ourselves on taking our relationship with all of our MVNOs very seriously. You have an account manager who is responsible for handling your needs, and weekly calls to handle any concerns that might crop up. Additionally, we have an escalation procedure that is specifically designed to get to the root of any problem as efficiently and effectively as possible. We prioritize consistency and organization because we know that they are the cornerstones of a successful MVNO/MVNE relationship.

Anyone in the telecom industry knows that billing can be the trickiest part of the business. When you’re dealing with multiple customers and a host of different services, getting billing down perfectly poses something of a challenge. That’s why it is imperative to make sure that your billing is on point. The best way that you can do that is linking up with a smart MVNE that has your best interests at heart. Let an MVNE like Telgoo5 take billing off your plate so that you can focus on growing your business!

Can Blockchain Make Telecom Billing System Better?

Ever wondered how many people have invested in bitcoins and other cryptocurrencies? As per a survey performed by Cambridge University, somewhere between 2.9 million and 5.8 million people utilized a cryptocurrency wallet in 2017. This number is staggering, especially when we look at the way governments of different countries are doing their best to stop people from using it.

Many governments deem it illegal, others tell the people that it is unsafe for their hard-earned money and some even go as far as saying that it is downright immoral (some people use cryptocurrency for purchase of drugs and illegal video content). Right or wrong, we are not here to discuss about the virtues of cryptocurrency. We are here to analyze what makes it click. Which is that unseen force behind this phenomenon that people trust? The answer is simple: Blockchain.

Bitcoin is an unregulated and de-centralized currency, which means that there is not one single entity that controls it. The power lies in the hands of people. It is the best form of democracy when it comes to financial transactions. And, it has been made possible by the use of blockchain. For a layman, blockchain is like a ledger that is made available to all users. The data and transactions are completely transparent, which is clearly seen by all the users at all times. It won’t be wrong to think of it as a Google Doc spreadsheet, which can be edited at any time and the changes are there for all to see. Due to transparency in all transactions, people are ready to put their faith in it and hence, cryptocurrency has become so popular.

Use of Blockchain in Other Fields

Although, blockchain hasn’t been used in any other field, its promising start as part of the cryptocurrency operations makes it a wonderful option for other domains. In a field like telecom, where customers are often worried about the telecom billing system employed by their service provider, it won’t be a bad idea to give blockchain a try.

However, an immediate overhaul of the system is not advised and companies should look to integrate it slowly with their telecom billing solutions. Some of the benefits that can be extracted by its implementation in telecom are listed below:

1. Solution to the problem of roaming – Blockchain can help overcome the major hurdle of operators that require them to integrate expensive systems, so they can offer authentication/access settings for starting roaming calls. Blockchain addresses this problem by enabling complex datasets across multiple parties, in real time and with great reliability.

2. Better Connectivity – Use of blockchain along with telecom billing and payment software will make it easier to offer several local hotspots along with Wi-Fi accessibility based on permissions. The transparency that comes with blockchain can go a long way in fostering trust amongst customers with regards to billing for these difficult-to-track services.

3. Telecom providers can become remittance providers – Remittance is the action of transferring money in a different country. By using blockchain, telecom providers will be able to serve their clients better by offering remittance services.

4. Reduction in cost of operation – Last but definitely not the least, the implementation of blockchain will automatically lower the requirement of infrastructure, which will in turn lower the cost of operation.