Telecom Billing Software in the Modern 5G Era - Telgoo5
As we move into the modern 5G era, the role of telecom billing software is becoming increasingly important. Telecom billing software plays a critical role in the telecom industry.
As we move into the modern 5G era, the role of telecom billing software is becoming increasingly important. Telecom billing software plays a critical role in the telecom industry, allowing service providers to manage their billing and revenue management processes efficiently. With the rise of 5G technology, there are new opportunities and challenges that telecom billing software providers like Telgoo5 must address.
The Importance of Telecom Billing Software in the 5G Era
5G technology promises to deliver faster speeds, greater reliability, and more capacity than previous generations of mobile networks. This will enable new applications and use cases, such as virtual reality, augmented reality, and the Internet of Things (IoT), that will require sophisticated billing and revenue management processes.
Telecom billing software will be critical to managing these processes in the 5G era. As the number of connected devices and data usage grows, telecom billing software will need to be scalable and able to handle large volumes of data. It will also need to be flexible enough to support new business models and pricing strategies that will emerge as a result of 5G technology.
Challenges for Telecom Billing Software Providers in the 5G Era
While 5G technology promises new opportunities for telecom billing software providers like Telgoo5, it also presents new challenges. Here are some of the key challenges that telecom billing software providers will face in the 5G era:
Data Volume
The amount of data generated by 5G networks will be significantly greater than previous generations of mobile networks. This will require telecom billing software providers to develop solutions that can handle large volumes of data and process it quickly.
Network Complexity
5G networks are more complex than previous generations of mobile networks, with multiple layers of technology and infrastructure. Telecom billing software providers will need to develop solutions that can handle this complexity and integrate with multiple systems and technologies.
Security
With the increase in connected devices and data usage, there is a greater risk of security breaches and cyber attacks. Telecom billing software providers will need to ensure that their solutions are secure and can protect sensitive customer data.
Real-time Processing
5G technology promises to deliver faster speeds and lower latency, which will enable real-time applications and services. Telecom billing software providers will need to develop solutions that can process data in real-time and provide accurate and timely billing information to customers.
Customer Experience
With the rise of 5G technology, customers will expect a seamless and personalized experience from their telecom service providers. Telecom billing software providers will need to develop solutions that can provide a personalized and intuitive billing experience for customers.
How Telgoo5 is Addressing the Challenges of the 5G Era
As a leading telecom billing software provider, Telgoo5 is committed to addressing the challenges of the 5G era and delivering solutions that meet the needs of service providers. Here are some of the ways that Telgoo5 is addressing these challenges:
Scalability
Telgoo5's telecom billing software is designed to be highly scalable, allowing service providers to handle large volumes of data and process it quickly. The software can be customized to meet the specific needs of each service provider, ensuring that it can handle their unique data requirements.
Integration
Telgoo5's telecom billing software is designed to integrate with multiple systems and technologies, including network infrastructure, customer management systems, and payment gateways. This ensures that service providers can manage their billing and revenue management processes efficiently and effectively.
Security
Telgoo5's telecom billing software is built with robust security features, including data encryption, access controls, and security monitoring. This ensures that sensitive customer data is protected from security breaches and cyber attacks.
Real-time Processing
Telgoo5's telecom billing software is designed to process data in real-time, providing accurate and timely billing
What is Telecom Billing?
Telecom Billing is a process of calculating and generating bills for the services used by customers, such as voice calls, SMS, data usage, and other value-added services provided by the telecom company. The telecom billing system is responsible for managing the billing and revenue management process for the telecom company, including the collection of usage data, rating, invoicing, and payment collection.
Telecoms use billing software to manage their billing and revenue management process efficiently. Billing software solutions are designed to automate the billing process and provide accurate billing information to customers. Telecom billing software can handle large volumes of data and process it quickly, ensuring that the billing process is completed in a timely and accurate manner.
There are various types of billing models in telecoms, such as postpaid, prepaid, and hybrid billing. Postpaid billing is a billing model where customers pay for the services they have used at the end of the billing cycle. Prepaid billing is a billing model where customers pay in advance for the services they are going to use. Hybrid billing is a combination of postpaid and prepaid billing models.
The features of a telecom billing software solution include billing and invoicing, customer management, rating and charging, payment management, reporting and analytics, and integration with other systems.
Telecom billing software functions include usage data collection, rating and charging, invoice generation and delivery, payment processing, and revenue assurance. Usage data collection involves collecting data on the services used by customers, such as voice calls, SMS, and data usage. Rating and charging involve determining the charges for the services used by customers based on the billing plan and pricing strategy. Invoice generation and delivery involve generating and delivering accurate and timely bills to customers. Payment processing involves collecting payments from customers and updating the billing system with the payment information. Revenue assurance involves ensuring that the billing system is accurate and reliable and that revenue is not lost due to errors or fraud.
The Quote-to-Cash (QTC) automated process is a billing process that automates the entire billing process, from the initial quote to the final payment. The QTC process involves generating a quote, converting the quote into an order, provisioning the service, generating an invoice, and collecting payment.
When looking for telecom billing software, there are several things to consider. The software should be scalable and able to handle large volumes of data. It should be flexible enough to support various billing models and pricing strategies. It should be easy to use and provide accurate and timely billing information to customers. The software should also be secure and comply with industry standards and regulations.
Telgoo5 Telecom Billing Software Solution
Telgoo5 is a leading provider of telecom billing software solutions that enable telecom companies to manage their billing and revenue management processes efficiently. Telgoo5's billing software is designed to automate the billing process and provide accurate billing information to customers.
Telgoo5's telecom billing software solution is highly scalable and can handle large volumes of data. It is also flexible enough to support various billing models and pricing strategies. The software provides accurate and timely billing information to customers, ensuring that they are billed correctly for the services they have used.
Telgoo5's telecom billing software solution includes various features that are essential for telecom companies, including billing and invoicing, customer management, rating and charging, payment management, reporting and analytics, and integration with other systems.
The billing and invoicing feature of Telgoo5's software automates the billing process, from the collection of usage data to the generation and delivery of accurate and timely bills to customers. The software supports various billing models, including postpaid, prepaid, and hybrid billing, ensuring that telecom companies can offer their customers flexible billing options.
The customer management feature of Telgoo5's software enables telecom companies to manage their customers' accounts, including their billing information, payment history, and service usage. The software provides a comprehensive view of customer accounts, enabling telecom companies to better understand their customers' needs and preferences.
The rating and charging feature of Telgoo5's software enables telecom companies to determine the charges for the services used by customers based on the billing plan and pricing strategy. The software supports various pricing strategies, including flat-rate pricing, tiered pricing, and usage-based pricing.
The payment management feature of Telgoo5's software enables telecom companies to manage their payment processes efficiently. The software supports various payment methods, including credit card payments, bank transfers, and direct debit, ensuring that customers can pay their bills using the payment method of their choice.
The reporting and analytics feature of Telgoo5's software provides telecom companies with a comprehensive view of their billing and revenue management processes. The software generates various reports, including usage reports, revenue reports, and customer reports, enabling telecom companies to analyze their performance and identify areas for improvement.
The integration feature of Telgoo5's software enables telecom companies to integrate their billing and revenue management processes with other systems, such as CRM and ERP systems. The software supports various integration methods, including API integration, ensuring that telecom companies can integrate their billing and revenue management processes with their existing systems seamlessly.
Overall, Telgoo5's telecom billing software solution is a comprehensive solution that can help telecom companies streamline their billing and revenue management processes, reduce costs, and improve customer satisfaction. With its advanced features and flexibility, Telgoo5's software can help telecom companies stay ahead of the competition and deliver the best possible service to their customers.
Top Reasons to Integrate a Telecom Billing System
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).
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.
How to Select the Right Telecom Billing System for Your Business
If your favorite telecom billing system does not integrate with the CRM your company is already using, then you need to cross them off of your list, as painful as that may be.
Billing is one of the most important aspects of a telecommunications company, since it directly impacts the flow of revenue. Billing customers incorrectly, or failing to bill at all can be disastrous for telecommunications businesses. Telecom billing is also very complicated. Each individual account must be tracked for usage, have the correct rates applied to that usage, have the total cost calculated and have the correct invoice go to the correct customer. It is not a simple transaction.
The best thing a telecommunications company can do for the health of their billing (and therefore, their business), is to rely on a telecom billing software. The software will handle all calculations, invoicing, and debt collection. The right software can really improve the health of a telecom business, while unburdening employees.
Here is how to select the right telecom billing system for your business:
1. Make sure the software you choose can do everything you need it to. The question behind the question here is how complicated is your business? Do you need really robust telecom billing software, or will a simple invoice management system suffice? Choosing a billing software that cannot do everything you need it to can be very frustrating. Similarly, overspending on a software that has a bunch of features your business does not use can be a costly error. The best way to go about this is to come up with a list of features you need before you even start researching telecom billing software. This list will guide your search and help you to narrow down your options.
2. Check to see if the software will integrate into your existing systems. If your company relies on a CRM (Customer Relationship Management), the billing software you choose should integrate. If it does not, your employees will likely wind up tracking customer data in two different places. Not only is this boring and tedious, but it is a system that is rife with human error. You want your two systems to communicate and integrate with each other. If your favorite telecom billing system does not integrate with the CRM your company is already using, then you need to cross them off of your list, as painful as that may be.
3. Ensure that the system is adaptable. When you invest in a telecom billing software, you are making a multi-year investment. Your business may change over the years, industry regulations may change over the years...a lot can happen. Make sure that the software you choose has a history of adapting to changing circumstances and can support your evolving business.
4. Analyze pricing. Telecom billing software is a significant expense, so make sure that the cost is something that your business can support. Telecom billing software can help your company to save and make money in the long run, but you have to make sure that you have the funds available to support the software today. This is not a business decision to take lightly.
Remember, telecom billing software exists to make your life easier and your company more successful. Those should be your expectations as you consider which software to use.
Expand Base by Launching Different Plans with MVNO’s Favorite OSS billing system
A lack of transparency in telecom operations can lead to the faltering of the entire system. An OSS billing system is required to overcome the challenge of modern-day telecom operations.
For a telecom operator to stay relevant in the current times, it is very important to gauge the pulse of the market. Even more significant is to address the immediate needs of customers and grab a share of the market. Those who dilly-dally often end up on the wrong side. Those who take initiative, they often end up as the winners amongst competitors. Nowadays, customer service in the telecom industry has become very important. But due to silos between systems and telecom billing, operation and business support departments, the information is often compromised. A lack of transparency in telecom operations can lead to the faltering of the entire system. An OSS billing system is required to overcome the challenge of modern-day telecom operations.
Get Customers on Your Side with a Stable B/OSS and Telecom Billing Software
Consistency is the key in business operation. More so, when you are in a highly complex domain such as telecom. Customer’s behavior is hard to gauge; even a single bad instance in individual service delivery can lose you a customer who subscribers to many plans. It is impossible to create a stable strategy for business expansion when you are unsure whether your customers are on your side or not.
But when you utilize a unified B/OSS and telecom billing software that is already proven in the industry, it becomes easier to manage the different dynamics. Telgoo5 is one such telecommunications billing software that not only adheres to telecom billing system architecture but also stays updated with the latest rulings of FCC and 3GPP.
Due to its efficiency, accuracy and an ability to handle more than 50 million transactions every day, it automatically becomes the go-to software for telecom operators such as MVNOs and ISPs.
Access Telecom Billing Solutions with a Real-Time Charging System
When you have customers on your side, you can increase your revenue streams by launching a wide range of telecom services plans in a timely manner. But that is only possible with cutting-edge charging technology provided by a real-time Online Charging System (OCS). An OCS performs both event- and session-based charging and ensures accurate credit limit implementation. It provides a platform for convergent billing, meaning you can now start launching different plans for different types of services in a single subscription.
Telgoo5 is devoted to timely supporting all its clients and launching intuitive APIs that work perfectly for telecom services operators.
Stay Covered on Every Front with an Evolving AI-Powered Billing Software
the challenge is only going to become tougher, unless you have a billing software and B/OSS solution that fulfills new requirements.
The billing requirements faced by telecom operators keep on rising with each passing day. There is so much to do and so little time to waste. With 5G and IoT added to the catalog of services, the challenge is only going to become tougher, unless you have a billing software and B/OSS solution that fulfills new requirements.
Stay One-Step Ahead with AI-Integration
Considering the rapid changes in billing and delivery processes, a telecom operator needs to stay proactive with his subscription plans, business operations and order management. It is impossible to pre-plan and deliver services via a monolithic platform that is reactive in nature.
At Telgoo5, you get access to an AI-powered platform that anticipates your needs before they become an urgent requirement. As a result, you can create custom flows to manage customers’ demands. The ability to make sense of the vast amount of data ingested by the billing systems and BSS solution that you have employed plays a key role in driving your telecom operation towards success.
Evolve as Per Evolving OSS BSS Architecture
OSS BSS architecture constantly evolves as per the technical specifications conceptualized by 3GPP. On top of that, a telecom operator needs to stay vigilant of the changes recommended by regulatory bodies e.g., FCC in the USA.
Taking this burden on as an everyday responsibility can take your focus away from strategic tasks. What if you can manage all these responsibilities with a platform that adapts as per these changes? Telgoo5 does exactly that. It allows you to stay free and focus on what you do best. Responsibilities like staying compliant, upgrading/customizing software etc., are managed well by Telgoo5.
Powered by a Real-Time Online Charging System
Regardless of the scale of your telecom operation and subscriber base, Telgoo5 provides you real-time charging platform with its revolutionary Online Charging System (OCS). It is a convergent charging platform that is capable of managing millions and millions of transactions every day. The OCS can charge both event-based and session-based transactions. It enforces credit limits accurately and provides timely reminders to your customers when they are about to exceed their allotted quota. Telgoo5 is intuitive, easy-to-use and comes with 24x7 tech support.
With Telgoo5 as your partner, you get access to APIs, CRM and a dependable point of sale for selling your telecom offerings. We are integrated with all the major carriers and can immediately provide you high-speed and secure connectivity. It is a holistic telecom services platform that lets you stay covered on all fronts, ready to meet the challenges of the future.
Access a Flexible Telecom billing solution to Change Plans on the Fly
A top-notch SaaS-based telecom billing solution such as Telgoo5 comes with all the latest and greatest functionalities that are required for telecom billing. It has APIs that add new functionalities to an already owned telecom billing system.
Customer’s interest keeps on changing fast when it comes to their telecom services. Depending on the latest technology, which plans their friends are on and their job profile, customers switch their subscriptions at the drop of a hat. If you have a monolithic telecom billing solution, you would face great problems in changing customers’ plan as per their wishes. It is important to utilize a cutting-edge and flexible telecom billing software solution.
Leverage the Power of Real-Time Billing
Real-time billing is the benchmark for today’s telecom service delivery. Unlike in the past when customers were restricted to a few services, nowadays, the service catalog is vast. As you can’t manage each service separately, it is vital that you have a billing platform that can account for both events and sessions e.g., number of SMSes sent (events), data connection length or voice call length (sessions). This functionality is only available in telecom billings software platforms that are powered by a real-time Online Charging System.
OCS-powered billing platforms allow for:
· Complete revenue assurance
· Consolidated billing and a single unified invoice for all services
· Flawless credit limit implementation
Scale your Business with Versatile Billing Systems
Nowadays, it doesn’t make sense on buying a complete billing solution. The SaaS model works just fine as it provides you timely upgrades. The ability to perform cloud-based charging is vital for flexibility. As the cost of constantly customizing a standalone software is high, online billing systems are definitely the way to go, especially in these times when telcos are struggling to keep their revenue high.
A top-notch SaaS-based telecom billing solution such as Telgoo5 comes with all the latest and greatest functionalities that are required for telecom billing. It has APIs that add new functionalities to an already owned telecom billing system. The APIs can be used for entering a new partnership with a vendor. Or, they can be utilized for adding a new database. You can also use APIs to provide self-care service platform to the users. All this is done in a multi-tenant environment.
Telgoo5 also provides you a high-grade CRM for customer support requirements. It is connected with APIs for simple operation.
Telgoo5 is an intuitive platform that can be used even by people from non-telecom backgrounds. It has a remarkable point of sale platform and provides complete support for futuristic services such as IoT and 5G. It is also secured with robust encryption and prevents customer data from getting compromised.
Inspire Innovative Strategy in 2021 with Turnkey Telecom Billing Solutions
The best telecom billing software solutions offer turnkey functionalities that can be used immediately. There is no time to waste as the potential of new technologies is really high.
The innovations in telecom technology are taking place at an unprecedented pace. With 5G technology in full flight and mass employment of IoT by industries, the onus is on telecom operators to provide quality services to their subscribers. Given the current state of telecom industry and the prevalent competition, it has become all the more important to use telecom billing solutions that can be immediately put to good use.
Turnkey Telecom Billing Software for Rapid Growth
If you are stuck with traditional telecom systems and still use offline charging, it is time to make a major overhaul in your telecom billing strategy. The best telecom billing software solutions offer turnkey functionalities that can be used immediately. There is no time to waste as the potential of new technologies is really high. Before your competitors attract your existing customer base, it is crucial that you change the odds in your favor. A turnkey telecom billing software solution offers the following functionalities:
Point of Sale
The ability to sell your services in a convenient way can make your life a lot easier. The best telecom systems such as Telgoo5 have already been tested to deliver a proven point of sale platform.
Improved Management of B/OSS
B/OSS is a very important paradigm. Business and operation support services determine the quality of services you can offer to your customers. Employing NFV and SDN technologies gives you more efficiency. Improved fault-management and network maintenance via top platforms like Telgoo5 can be a real game change for your MVNO.
Enhanced Revenue Assurance
An intuitive platform that offers complete revenue assurance allows you to manage your yearly revenue. It provides a transparent overview of your earnings and revenue generated through different services. Customers get exactly what they pay for, and their trust in your services rises. Telgoo5 allows you to audit transactions, detect frauds and stay completely assured about the revenue.
Real-Time Convergent Billing System
With an Online Charging System (OCS), you can perform day-to-day charging and rating functions in real-time. It allows you to charge every service at a centerallized place and create consolidated bills that reflect every single charge on a single piece of document. Credit limits are enforced accurately and customer are kept in loop of every charge they have incurred over the billing cycle.
With backward-compatibility and seamless integration into existing workflows via APIs, Telgoo5 offers a sound platform for MVNO, MVNE and MNO in 2021. It simplifies day-to-day functions and allows telcos to strategize well for the future.
Top-Class Telecom Billing Solutions for Constant Business Growth
For a telecom operator, it is important to stay consistent in terms of the quality of service. Therefore, every telecom operator, whether it is an MNO or MVNO, utilizes telecom billing solutions that are designed for better monetization, accurate billing and complete revenue assurance.
For a telecom operator, it is important to stay consistent in terms of the quality of service. Therefore, every telecom operator, whether it is an MNO or MVNO, utilizes telecom billing solutions that are designed for better monetization, accurate billing and complete revenue assurance.
SaaS based telecom billing software is becoming increasingly popular amongst next-gen telcos because it provides them great flexibility in service acquisition and delivery. It also comes with Application Program Interface (API) for integrating new functionalities. Moreover, it is easier to buy because of low capital investment.
The Need for Top-Class Telecom Billing Software Services
In today’s age, a telecom operator simply cannot survive if it does not have telecom billing software services that are on par with what other top players in the industry are using. Regardless of the scale, an MVNO needs faster and better monetization functionality. And this is only possible via SaaS-based telecom billing software services.
The need for top-class telecom billing solution is justified because of the following reasons:
Real-time charging
Most world-class telecom billing solutions are powered by a real-time and convergent charging platform. For example, an Online Charging System (OCS) is used by Telgoo5 to offer real-time charging functionality. Truly 3GPP-compliant real-time charging is needed to prevent revenue leakage and maximize the impact of monetization.
Consolidated billing
Due to the ever-expanding catalogue of telecom billing services, it is vital that a telecom operator can offer a single invoice that reflects every single charge. For example, the charges of broadband, prepaid, postpaid, IPTV, anti-virus, online subscriptions etc. can be printed on the same invoice. Many customers love this type of convenience. If they have already experienced it, you won’t be able to lure them towards your brand if you are lacking this vital functionality.
Attractive discounts
Along with monetization, you should also be able to offer attractive discounts to your customers. For example, it is possible to offer cross-product discounts to your customers. You can create attractive plans that lure customers toward your brand with top telecom billing solution.
Complete and thorough reporting
Reporting allows operators to understand the impact of the telecom services you have commissioned. You can comprehend and analyze how your customers are reacting to your every move. It also becomes a lot easier to understand the value of your interconnect partnerships, vendor partnerships and per user revenue. At Telgoo5, you get a dedicated slave database that provides you every report from the master database.
Get Your Business on Track with Convergent Real Time Telecom Billing Solution
Telecom billing has come a long way from yesteryears Offline and Intelligence Network based billing for postpaid and prepaid customers. Now, we are living in the age of consolidated billing that depends on an Online Charging System (OCS). An OCS is a real time component of the telecom billing system, and has the potential to alter both monetization and billing aspect of telecom operations.
Get Back on Track with a Superior Telecom Billing Solution
As things stand, the telecom industry is in a state of flux. There are frequent changes that are taking place, so that telcos can compete against Over the Top (OTT) and other industry players. With profit margins receding, the best way to keep customers’ happy is by providing them superior solutions. And to do that, you require the services of a superior telecom billing service provider who has expertise in this domain:
Access convergent billing solutions with no revenue loss
A true OCS architecture is needed to ensure that your billing system works as intended. For example, it is required that the interface between PCEF component and OCS component should be both direct and real time. But many companies, in order to save money, employ uncertified solutions that are lacking in both respects. Thus, in spite of using a real time charging platform, telcos are unable to excel at their service delivery and billing.
Complete reporting and accountability
A telecom operator requires frequent insights, so as to alter its business strategies according to market requirements. Therefore, thorough reporting of every customer transaction is a must. Modern-day telecom billing systems like Telgoo5 come with analytics, which improve insight generation, so telcos can make better decisions.
Intuitive interface
Both small time and large-scale vendors require an easy interface for their telecom billing solution. As they have to train their workforce on monetization and other critical tasks, an intuitive and easy-to-understand interface is necessary. Telgoo5 is exceptional in this regard as it has one of the best interfaces for its telecom billing solution and B/OSS platform.
API for adding new functionalities
A telecom billing solution by itself might not be enough to get the job done for telcos. They require new APIs from their telecom billing service provider, which can help them in adding new functionalities to the system. For example, APIs are needed to start a new association with a payment gateway vendor, so that you can provide different options to your customers for receiving monthly payments.
5 Key Aspects of a Billing System
While operating a business it is important to have a great billing system. If the bills are paid on time, then it ensures that the business is running smoothly. Lateness when it comes to the release of funds will not help in keeping the business afloat. Depending on the options that you have available,
While operating a business it is important to have a great billing system. If the bills are paid on time, then it ensures that the business is running smoothly. Lateness when it comes to the release of funds will not help in keeping the business afloat. Depending on the options that you have available, which may include payments via small installments or monthly payments, it is important to keep track of the funds coming in and out of the business. A good billing system needs to have certain key qualities that will help you keep track of payments. Cellular network operators need to consider the kind the elements the billing system that they will decide to implement possesses. A billing system is key to running a good business. Here are some of the important components of a good billing system.
Aspects of a billing system
1. Does your billing system have billing codes?
It is important for cellular networks to have billing codes since they offer an array of services. They include; data, voice calls, and message among others. When you have a code for each of the services that your business provides you can be able to keep track of the payments. Codes will also help you to be able to determine which services clients prefer most since they will purchase them more than the others. You should have billing codes which are in line with your business and which can help your subscribers pick out product and services easily.
2. A billing system should be able to track payments
Tracking the payment of your clients is a very important aspect of a billing system. If the billing system is operated from a computer whereby all the details are available it will be easy to keep track of the payments. The billing system should have an option which will enable you to send reminders to users a few days to the payment so they can remember to make payments on time. Employees will be able to keep track of clients who do not pay on time and send them reminders to make their payments. If the defaulters have gone past an agreed period the employees can be able to keep track of that and they will be able to impose an extra fee. The system should be able to allow the provider to contact the subscribers who have not made their payments and remind them to pay. This can be done by sending a message or via a phone call conversation.
3. It should be able to verify the users’ information and store their data
A network provider should have the data of its providers in their database. That includes their names, their address, their payment terms as well as any other information that is necessary. After collecting the information of their subscribers, they should also collect information that pertains to the product and services that the subscriber is using. Entering this data will help with easy retrieval of information where necessary.
4. It should be secure
Information entered into the database of any network provider about a subscriber is sensitive. The information should not be shared with anyone else and it should not be easily retrieved by any third parties. It is important for a billing system to be regularly updated in order to avoid access by hackers. The information should only be accessed by users who have permission to access it. What payment methods are you accepting? If you are accepting payment methods such as credit cards you will have to ensure that you adhere to the standards which have been set by the industry.
5. Affordability
When you invest in a billing system that seems to cost less you are likely to incur technical hitches which involve disconnections. However, thinking long term and investing in a solution that is integrated will cost you less in the long run.
A billing system will help you keep your business on track and you will be able to retrieve information easily when you need it. You should list down some of the concerns that you have as a business providing communication services so you can understand what is most important when you are considering a billing system for your business.
Why CDR Meditation Is an Essential Part of Telecom Billing?
Telecom billing is probably the most confusing and scrutinized task in the telecom industry. The scrutiny comes from customers who are more often than not dissatisfied with their bills. This leads to confusion amongst the telecom vendors who start looking everywhere for new telecom billing solutions. Mostly, this problem arises because the telecom billing software used by them are subpar and do not meet the high requirements of modern-day businesses.
Telecom billing is probably the most confusing and scrutinized task in the telecom industry. The scrutiny comes from customers who are more often than not dissatisfied with their bills. This leads to confusion amongst the telecom vendors who start looking everywhere for new telecom billing solutions. Mostly, this problem arises because the telecom billing software used by them are subpar and do not meet the high requirements of modern-day businesses.
Why Telecom Billing Solutions Are Important?
All the efforts made by telecom service providers in setting up a network will amount to nothing if telecom billing is not up to standards. This is why, telecom billing solutions become important as they play a crucial role in accounting for those services. Not only is the revenue generated by a telecom provider dependent on billing, customers’ trust is also directly connected with the quality of the billing services. For instance, if a customer starts receiving wrong bills, his trust in the services nosedives from that moment onwards. On the other hand, if the billing services are sound, the customer stays faithful and brings in new customers.
CDRs: The Fundamental Unit of Telecom Billing Process
CDR (Call Data Record) is the fundamental unit of telecom billing process. All interactions between the user and telecom networking elements are captured by CDRs. A CDR has the following attributes:
Date and starting time of the call
Duration of the call
Calling party
Called party
Type of call e.g. voice, SMS, data etc.
Unique record sequence number that is used for identification
The captured CDRs are vitally important for the proper operation of a billing system. However, these CDRs are raw in nature, which means they cannot be interpreted by a billing system.
CDR Meditation System: The Unsung Hero of Telecom Billing Solutions
To ensure the captured CDRs are converted into a format that is understood by the billing system, a CDR meditation system is employed. The meditation system receives the unformatted CDRs, converts them into the necessary format and sends them to the billing system. Besides conversion, it also performs the operation of filtering out calls that do not meet set criterion by the telecom vendor. For example, if a call with duration less than 10 second needs to be filtered out, it is done by CDR meditation system. Moreover, if some extra information needs to be provided that is crucial for billing procedure, the meditation system gathers that information based on certain attributes and then sends it to the billing system via FTP (File Transfer Protocol). FTP is required for transfer of this information as both billing software and meditation modules are installed on different systems.
After the billing system receives the formatted CDR, it is able to interpret the information and rate the services utilized by customers.
Summary
Billing system in telecom is quite complex and requires processing of data at different levels for accomplishment of billing-related tasks. Although the user is not aware of what goes on behind the scenes, the role of systems like meditation system that converts raw CDRs into formatted CDRs is extremely important. All telecom billing solutions require correct formatting of CDR for reliable and accurate completion of billing tasks.