Why Do Carriers Need Convergent Charging?

Telecom businesses are constantly evolving the way they charge customers. These methods focus on improving customer experience while growing revenue.

Many methods have been developed for charging customers. They include prepaid, postpaid, and most recently, convergent billing.

In this article, we'll discuss what convergent billing means and why every telecommunications carrier out there needs to implement it in their business.

What Is Convergent Charging?

Convergent charging is the act of billing all of a customer's service usage as a single invoice.

Many telecom companies offer a diverse range of services - data, voice, prepaid, and postpaid telecom services. To properly serve the different segments of their customer base, many have developed flexible service bundles that people can use to suit their particular needs.

If a telecom business is not charging their customers with the convergent method, they have to send their users several invoices and so will have trouble keeping up with all the records. 

Customers themselves may not understand how they're being charged. Studying many invoices for many services from the same company is not a pleasant customer experience.

As a result, telecom carriers have moved towards convergent billing, where they can easily charge their customers in real-time for all the services they use. 

Reasons Carriers Should Adopt Convergent Charging

1.   To Improve Customer Experience

Convergent billing improves customer experience exponentially. A customer who is billed with the convergent method can easily see at a glance how many services he has used and how much he has paid or has to pay for them. 

Convergent billing also makes the telecom carrier more transparent and trustworthy.

2.   To Easily Gather Customer Data and Offer More Streamlined Services

By charging customers with the convergent method, telecom companies find it easy to gather data on how customers use their services. They can intuit what the customers need and offer those services before users ask. 

Also, there will be no need to pay for extra hours to compile customer data for analysis. Convergent billing tools gather and store data automatically.

3. To Reduce Wastage and Increase Revenue

Convergent charging helps telecom businesses reduce wastage in managing and billing customers. These revenue wastages are caused by customers not being charged in real-time and the extra time to prepare different invoices. 

Convergent billing helps companies charge users in real-time and update account balance records as required.

4.  To Create a Centralized Database of Customer Records

Businesses have a centralized database of all customers that is updated automatically and in real-time when using a convergent charging system. They quickly pull up vital records. Convergent billing makes data analysis simple for telecom carriers.

5.  To Create a Better Customer Support Experience

Convergent charging helps telecom companies to create a better customer support experience for customers. 

Since convergent charging enables companies to automatically have the complete history of a customer's usage in one place, there is no need to update records manually. AI can be implemented to guide customers through the support experience.

Telgoo5 has many years of experience providing converter billing solutions to telecom carriers. Reach out to Telgoo5 today for a free quote.

Top Reasons to Integrate a Telecom Billing System

One of the main concerns of telecom companies is billing customers accurately. To build, grow, and maintain a large customer base as a telecom provider, billing for services must be accurately done with a telecom billing system.

Many factors go into accurately billing a user. The customer must be charged using the appropriate billing method - prepaid, postpaid, or convergent methods. Any taxes, debts, and other payments should also be taken care of.

When your business is working with thousands of customers who may also have multiple telecom accounts, the number of processes to monitor and charge go into the millions. You will then have to hire hundreds of staff workers to do that for you, or incorporate a telecom billing software that will easily automate all of the processes.

In a nutshell, a telecom billing system is software that gathers users' data and charges them appropriately for services used. A telecom billing solution creates CDRs for every usage by a customer account, records the data, charges the customer, and generates invoices as required.

Here are the top 5 ways that a billing system will save your telecom business time and money.

Billing in Real-Time

A telecom billing system uses an Online Charging System (OCS) to bill users in real-time. Every time a call is placed, text is sent, or data connectivity is turned on, the telecom billing software creates a Call Detail Record (CDR). The software uses the CDR to measure usage and charge the customer.

If the billing method is prepaid, the telecom software debits the user's credited telecom account. But if the method is postpaid, the software simply adds that CDR to records already held for the customer. Later on, the software generates and sends the invoice. Depending on the plan, a telecom billing software generates invoices every 30, 45, 60, or 90 days.

Automating Back-End Processes

Apart from charging customers on the go for services used, a telecom billing solution helps to automate the back-end processes of telecom businesses. This greatly reduces the workload for the staff.

Some of these back-end processes include adding new customers, removing old customers, generating invoices for postpaid clients, collecting debts, implementing discounts, and so on.

A telecom business cannot rely on the staff to go through the large database, working on all these processes. A telecom billing software automates the process and saves time and money for the company.

Wholesale billing and reconciliation

Apart from charging users, a telecom billing system can be integrated to monitor all transactions with a supplier. The telecom billing solution automates the process of sending payments to suppliers and creating records for those transactions.

Generating Reports

The use of telecom billing software automates the process of generating a detailed report of customer and company transactions. With the aid of software, it is super easy to generate reports for any time interval of your choice.

Billing Service Provisions

If a customer makes a one-off purchase, or orders some hardware fix, a telecom billing software automatically generates the bill and charges the customer. It can take into account taxes, VAT, and so on.

Telecom Billing systems are irreplaceable assets for telecom companies. Feel free to contact us to learn how Telgoo5 will easily integrate with your business and CRM, to save you time and money.

Why Research is Essential for Any Telecom Business

There are hundreds of steps that a telecom business must employ to ensure that they become a success and remain a success for years to come. These steps will differ depending on the type of business, but if there is one essential variable that all business owners can find useful – research

Business research is something that constantly needs to be implemented to ensure the utmost flourishment of a business. Trends come and trends go but the value of proper and practical research will never cease to exist and here are a few reasons why.

It Can Boost Your Sales

The only true way to grow a successful company is to deliver the services and/or goods that consumers are craving. No matter the niche of your business, understanding the demand of your customers and potential customers is critical.

But how is regular research going to lead to more profits? A unique method of research known as quantitative research is the answer. This will allow, for your convenience, the ability to get first-hand insight into the perspective of your clientele.

Employing quantitative research can be achieved via different types of consumer surveys (such as online and telephone surveys). The information you gather can answer some burning questions you may be having. For example, through said surveys, you can determine if your users are satisfied with the services you are offering and can identify which (if any) changes need to be made.

Allows for the Observation of Competitors

Businesses are always in competition with one another. This is especially true in the telecom industry, where so many similar phone plans are being offered. The more consumers you can draw the better, and businesses are constantly at battle with one another to increase their customer base. That said, in order to surpass your competition, you must first gain insight into their business practices.

Focusing on your specific industry, you can gather a list of the businesses you feel you need to compete with (keeping in mind location, company size, and other things of that nature). From there, document the types of services they offer, the demographics they are attempting to reach, and what makes them unique.

Being aware of these types of attributes can help you differentiate yourself from your competitors in an attempt to draw a wider audience. When you know what services your competitors are offering, you can find a charging system that will go above and beyond to ensure your services exceed customer expectations and help differentiate your business from your competitors.

You Can Properly Track Market Trends

It can’t be stressed enough that remaining stagnant in the business world can be detrimental. Regardless of the market that is being focused on, it is always important to understand the direction that the market is heading in.

Keeping an eye out for upcoming trends can allow you to tailor your goods and/or services in a manner befitting the ever-growing needs of your consumers. If old and outdated trends are being marketed, it could result in a loss of customers. Maintaining a modernized platform should be a top priority as most people will be looking for the best.

Continuing to keep up with new billing trends and practices will prove to be extremely beneficial. Telgoo5 offers solutions for any and all online charging needs. We are always happy to share our expertise and talk about how our platform can add benefits to your brand.

Why You Need a Multi-Tenancy Platform

To optimize IT costs and create operational efficiencies, you need to leverage SaaS trends of multi-tenancy. In order for you to realize the need for multi tenancy you need to understand the importance.

Importance of a Multi-Tenancy Platform

A multi-tenancy platform is important to any ICT and telecommunications organization. This is why:

Low Ownership Cost

Users can access their services from one platform. This means it is easier to access frequent and automatic updates. As a user you will not need to pay for new functionalities and customizations. An added advantage is the inclusion of new updates and releases on the subscription. Users are always informed of irregular changes.

Worry Free Capacity

A multi-tenancy platform offers your company, whether big or small, the ability to reside within the same data center and infrastructure. It is commonly known as “worry free capacity”. You will not have a need for more computing and server capacity, and your operation support system will never be encumbered. This is our responsibility as Tegloo5 to grow our data center while supporting your growth.

To optimize IT costs and create operational efficiencies, you need to leverage SaaS trends of multi-tenancy. In order for you to realize the need for multi tenancy you need to understand the importance.

Importance of a Multi-Tenancy Platform

A multi-tenancy platform is important to any ICT and telecommunications organization. This is why:

Low Ownership Cost

Users can access their services from one platform. This means it is easier to access frequent and automatic updates. As a user you will not need to pay for new functionalities and customizations. An added advantage is the inclusion of new updates and releases on the subscription. Users are always informed of irregular changes.

Worry Free Capacity

A multi-tenancy platform offers your company, whether big or small, the ability to reside within the same data center and infrastructure. It is commonly known as “worry free capacity”. You will not have a need for more computing and server capacity, and your operation support system will never be encumbered. This is our responsibility as Tegloo5 to grow our data center while supporting your growth.

Releases/Updates

In the past it used to take a lot of time to roll-out any updates/releases. It is a lengthy process that requires coding for each client. This is what most multi-tenancy platform services offer. Our difference is we can send updates and releases suited to your particular needs.

The benefit of this move is that you will never have to go through processes such as performing Q&A and customizations. The change in production will automatically synchronize the moment an update or release is available.

If you have customers in the hundreds or thousands, such a move is a challenge. Our company ensures we handle everything to perfection. Our support team is dedicated to provide seamless updates and releases. Your benefit is faster access to innovative features for management of communications and IT, while ensuring your client is not interrupted.

Conclusion

A multi-tenancy platform will improve your business, large or small, to levels that you can compete with your competitors on the same level. Contact us to find a solution that will take you to the next level. We also offer latest billing solution along with OSS solution to meet any of your operational requirements.

Step By Step Instructions For How To Start Your Own MVNO

It’s hard to underestimate the importance of MVNO virtual network operators in the market. They are starting to outpace traditional providers and it’s really no surprise why! They offer customers tailored solutions, are generally less expensive, and can focus on niche markets.

It’s only logical that MVNO solutions are emerging as a powerhouse in the telecom space. Today’s customers require an unprecedented level of choice and customization, and smart MVNOs understand how to make that happen. That being said, starting up your own MVNO is a little trickier than it might seem!

Understand The Start-Up Funding Costs

You will need some capital to start up your own MVNO. There is a lot more that goes into it other than simply purchasing airtime and data. You need to partner with a company that will provide you with the support infrastructure to keep your customers happy and your business flowing. After all, you’ll need to field customer calls, implement a billing system, and account for emergencies like loss of service.

Funding is critical, so start thinking about where it will come from. There are several routes that you can take to get the money that you need to start up your MVNO.

• Angel Investors and Venture Capitalists- if you go this route, you’ll have to have a solid business plan in place that will show your investors how they will make money on the backend. Angel Investors and Venture Capitalists are not altruists, and they want to see a clear return on their investment. Scoring venture money is great, but you need to have all of your ducks in a row.

• Crowd-funding- you can go on any number of different crowd-funding platforms to try to raise money organically. You’ll have to present a tangible reward for people who contribute, so consider what you can offer carefully. Perhaps it’s the ability to get in at the ground floor, a few free months of service, or even a small share in the company.

• Self-funding- if you are able to swing the startup costs yourself, do it!

Know What Sets Your MVNO Apart

Like any other business venture, successful MVNOs rely on the ability to speak directly to their niche and deliver products that they want. Think about who you want to target and offer plans directly for them. For example, if you’re targeting Millenials, you might want to have plans that are heavy on data and texting, but lighter on actual phone call time.

Additionally, think about your niche when you choose an outsourcing call center. If your customers have concerns, and they will, you’ll want to have reps who can speak with them in their language. Millennials value instant gratification, so call center employees who can use Live Chat and Social Media will be better equipped to deal with their needs. (v)WeCare reps are skilled in all new technology, which is what makes us a great partner for companies that want to reach younger demographics.

Find A Good MVNE

Finally, you’ll need a supportive partner that can handle all of your back office outsourcing needs. The last thing that you want is for your customers to suffer because you don’t have your administrative ducks in a row! Get yourself an MVNE that can support you on the backend.

Don’t try to take on MVNO billing, customer service, and all of the other infrastructure needs that go with running a successful MVNO on your own. In the best case scenario, you’ll burn out. The worst case scenario is that customers will flee and give you terrible reviews. Not working with a quality MVNE can sink your business. Telgoo5 has years of experience helping MVNOs scale effectively while handling all customer needs from soup to nuts. We deal with billing, customer problems, security, and infrastructure. Our comprehensive MVNO billing software is really second to none and offers seamless billing with all customer data backed up in the cloud. We also conduct weekly calls with all of our MVNO partners so you’re always in the loop. If you’re going through a rapid scaling phase, we’re flexible, equipped and able to transition smoothly. Our mission is to make you look like a superstar to your customers, and we have a proven track record of success! Telgoo5’s billing system was designed to be all about you- our trusted partner!

Starting an MVNO can seem a little bit daunting, but it’s doable if you follow the steps outlined in this article. Why not be on the cutting edge of a brand new industry?

The Secret to Starting a Successful MVNO

Today, more new MVNO are being started than ever before. Fierce Wireless, an online publication reports that new MVNOs are being launched every week and interest in this business type is eclipsing the 2005-2006 craze that saw numerous high-profile MVNO startups. With numerous new entities rushing start their own MVNOs, many will inevitably fail to make a mark in the long run. To succeed in this competitive space, startups need to plan meticulously and identify the right niche in the market. Although the process is similar to starting any other business, they are unique procedures that you need to weather to start your own MVNO. If you are mulling starting an MVNO, it is important to identify the challenges that may curtail your success. Read on to explore the process, the unique challenges that await you, and get tips on how to smoothly start your own MVNO.

Starting Your Own MVNO – Similar to Starting Other Businesses

Image from Pixabay

To start your own MVNO, you will in  in many respects follow the same procedures like when starting any other business. To succeed, the following steps are critical:

Carving Out a Niche

It is likely that your up and coming MVNO will offer services that eerily similar to the offerings of other players already in the business. While the prospect of facing stiff competition discourages many potential entrepreneurs, it also presents opportunities to creative players. The only viable strategy for most new MVNOs is carving out a niche in the market and chipping away at and winning over customers from the other established providers. Indeed data from Strategy Analytics indicates that MVNOs in the current market conditions succeed by focusing on addressing particular market segments or value propositions.

MVNOs can thrive when they identify a certain set of services or pricing models that are not currently in the market. But deploying this strategy requires extensive knowledge about the set of customers that you will target. This insight is what will enable the company to tailor its offerings to the unique needs of the target segment. Common niches that can be targeted in the current environment include the following niches:

infrastructure MVNOs

These types of MVNOs focus on covering an area where major network providers don’t reach. For example, an MVNO may focus on providing the infrastructure to cover a mountain range where other network operators have no reach.

Retail MVNOs

These types of MVNOs target supermarkets and departmental stores to find subscribers to buy their sim cards.

Advertising-based MVNOs

These offer discounted services and some free services and in return they get access to advertise or subscribers devices.

Discount MVNOs

These target deal hunters. Such companies only offer basic services like voice and text. Although such companies get little earnings per subscriber, the hope to get enough subscribers to get a reasonable profit.

Getting the Tech In Place

MVNOs thrive on technology and you need to put in place the infrastructure and software you will need to serve your customers before getting started. You will need to set up your IT platform and get your billing in place. It is at this point that the company also sets up a CRM, customer care and network management systems. You can be able to save time and human resources by outsourcing billing, customer care, and similar services. Our system Telgoo5 can free up an MVNO’s human resources to focus on other aspects of the business. We can handle the Call Detail Records (CDRs) for both real-time interface (prepaid) and batch process (postpaid) subscribers. We can also handle your billing, data analytics, and other aspects of the technology platform.

At this point, you can also set up the website where subscribers can sign up for your services. It is worth noting that it is important for a new MVNO to identify and only invest in the right technology tools for a company of its size. Underinvestment could result into service failure due to overloading. Overinvestment, on the other hand, can bleed the company dry. The easiest way to ensure that new MVNOs invest in what is enough is by linking up with a good OSS system. Our platform Telgoo5 allows access just what you need at the time. We can take care of your billing, CRM, subscriber website, customer care, and everything you need to get started. Partnering with us can help you to launch your MVNO in as few as four weeks instead of months.

Starting Your Own MVNO – The Unique Challenges

A Potentially Risky Business

A measure of risk is involved when starting any type of business. But the sheer complexity of the MVNO launching process coupled with intricacies involved in making partnerships and the fierce competition that awaits new entrants connive to make starting a new MVNO an especially challenging venture. The fast rate at which telecommunications technology becomes obsolete means that you risk investing in technology and fail to recoup the investment costs. Successful MVNOs reduce risk by targeting a specific niches. They make and strictly follow a plan that addresses the needs of subscribers in that particular niche. A good platform like Telgoo5 can enable you to scale according to your business needs. This will enable your business to avoid paying for resources they currently don’t need.

Getting Licenses

To start your own MVNO, you will encounter a number of challenges that are peculiar to the telecommunications sector. To start a new MVNO, you will need to register and be certified by the right authorities. Being certified will enable you to get MSISDN and IMSI blocks. In the US, this certification is done by the FCC. This process will is critical if you are to start operations. Telgoo5 platform meets and exceeds all the license and regulatory requirements. We have helped a number of MVNOs to fasttrack the certification process and would be happy to help MVNO startups that need guidance during this process.

Making Partnerships

The MVNO business type thrives on partnerships. You will need to work with mobile carriers or aggregators to get subscribers. Many MVNOs startups soon learn that the most difficult part starting operations is not getting capital or even setting up the technology platform. Inking contract with big telecom companies is perhaps the single toughest feast to accomplish.

Telecom companies usually insist on certifying different aspects of MVNO operations before committing to working with them. These certifications processes usually take months of back and forth dealings and they may put a tremendous strain on the patience of the new startup owners. However, some MVNOs may be able to bypass some of these processes by linking up with with MVNEs and other partners. The MVNO can then utilize their existing platforms carrier agreements to get started. Our platform Telgoo5 is already integrated with all the major carriers. We also have partnerships with a number of of aggregators and MVNEs. Signing up at our platform will help you to save time and money and you will be able to start operations in a couple of weeks.

Setting up an MVNO is a potentially complex endeavor that involves planning, setting up platforms, linking up with suppliers and, getting the required certifications. However, if you link up with a good OSS parner, the process can be dramatically simplified and you stand to save a lot of time and money along the way. At Telgoo5, we provide billing, CRM, customer care, and more services to MVNOs and other telecom companies. Over the years, we have helped new MVNOs to flourish. Whether you are an established MVNO, a new company, or just exploring ways to get started, we can tailor our services to fit your needs. Contact us to explore ways we can partner today.