Tag: billing and charging

Stay One-Step Ahead of Customer Needs with Revolutionary Billing and Charging

Billing and charging are both critical aspects of modern-day telecom operations. In order to thrive in today’s market, you need the best billing platform that can offer complete transparency and keep customers on board.

Meet Requirements in Real-Time with Online Charging System

Billing and Charging

An Online Charging System (OCS) is a type of convergent charging system that caters to the unique needs of businesses. It has the capacity to store large amount of data, and the processing power to charge every service in real-time i.e., <5ms.

Due to the fast speed of service charging, it becomes possible to charge and rate both event- and session-based services at the same time. Telecom operators can now collate every service charge on a single document. This provides complete convenience and comfort to the customers using multiple services from an operator.

Another important facet of OCS is its ability to offer credit control and real-time notifications. Customers get immediate notifications when they are just about to exceed their allotted quota of data limit or call minutes. Hence, they never really have to pay anything extra, unless they actually want to go over the limit to use additional services.

The OCS allows for quick monetization and telcos are easily able to bundle different services as per their marketing strategy. It offers complete revenue assurance and comes with bolstered data security.

They don’t even know the possibilities of convergent charging and what it can offer, which is a shame because it can make a huge difference.

Source :

https://no1friend.com/read-blog/10929

https://7smabu.com/read-blog/9046

https://www.promorapid.com/read-blog/10840

https://upster.app/read-blog/9067

Inspire Innovation with a Creative Billing and Charging Platform in 2021

Tough competition beckons in 2021 as companies strive to get out of the rut that was 2020. After the hiccups of Covid-19 pandemic, it is the right and possibly the only time, to maximize revenue for both MNOs and MVNOs. One of the most fundamental requirements for showing innovation in telecom service delivery is by improving the billing and charging functions.

Move to Convergent Charging System for Best Results

Convergent Billing

In order to stay progressive and bring in creativity, you simply need to have the right tools for the job. A convergent charging system serves as centralized place to charge every transaction. What it means is that you are not only able to charge every service but also monetize plans with a combination of distinct/disparate services.

An interesting combination of different services is more likely to appeal to the subscribers. You can also offer a wide range of discounting schemes to attract customers to certain packages.

Another thing that an Online Charging System offers is simplicity and intuitiveness. It is way simpler to organize a system that lets you calibrate all services via a single platform. Every player in the market – MNO, MVNE, MVNA and MVNO – can be served better with a fully-functional Online Charging System (OCS). In short, a dynamic OCS is the most pressing requirement of 2021.

Prevent Revenue Losses by Setting up a True Real Time Charging System

To say that the telecom sector is full of competition is quite an understatement. Apart from the prominent service providers, you also have a plethora of mobile virtual network operators (MVNOs) that offer their services at highly affordable rates.

If you run one such network, you would know how difficult it is to meet your bottom line in this environment. Unhappy customers can switch to a different provider at a moment’s notice. But happier clients are just as tricky when it comes to maintaining brand loyalty. You need to keep offering state of the art solutions that excite your customers and keep them from leaving your service for a competitor.

An essential service such as real time charging can prove quite handy in appealing to your clients. With its transparent billing, minimal errors, and faster service, a real-time charging system is precisely what you need to bring your services to the forefront in your customer’s minds.

What is Real Time Charging?

Real-time charging solutions help you actively charge your customers for the services they use. As the name suggests, these charges will incur in real-time, which in other words means that your customers are billed as they use any services, as opposed to being billed after they have used a service.

It might seem like a small difference at first, but real time charging can revolutionize your billing for the better. Among other advantages, it provides benefits such as a smarter network, accurate billing, and efficient services.

However, as a MVNO, it isn’t always easy to set up a real-time charging system that successfully delivers on all expectations. You need to be careful about what kind of real-time charging solutions are you enabling for your network. That’s why it is essential to keep the following points in mind while setting up real time charging systems.

Check If It Supports Convergent Billing

The first thing that should be on your mind is to set up a real-time charging system that holds the latest technologies within it. While any real time charging mechanism will allow you to deduct accurate charges, some variations are more effective than others.

For instance, a convergent real time billing system doesn’t only help you automate your charges. It also consolidates them for better management and accounting.

Through a convergent real time billing system, your customers don’t have to pay for different services or accounts on an individual basis. While they still get charged in real time, their charges come consolidated in a single bill.

This makes it easier for customers to pay for different subscriptions and even accounts. It also sets your service apart from operators who do not offer this feature.

Learn the End Charges for Yourself

Before you enter into a contract for real-time charging solutions, make sure that their actual charges do not cost you a fortune.

This is highly important if you are looking at long term growth for your network while also providing efficient billing services to customers.

Make sure that you are comparing different providers’ charges and services side by side before making a decision. Those who are confident in their services will also be able to answer any questions you have, so don’t shy away from having your team gather the answers that you require.

This method helps you find a real-time charging system that can serve as a long-term solution for business. It goes a long way by managing your costs while providing state of the art services to your customers.

Obtain Your Services From a Reliable Provider

Another elementary yet very crucial aspect is to obtain your real time charging services from a reliable provider.

You should look for a provider that has been operating in the industry for a while, has a track record of serving other networks and MVNOs, and holds a credible reputation for using the latest technologies.

This makes sure that you are not handing your network’s fate into the hands of a sub-par infrastructure. Rather, you are paying for services that make a difference for your network’s service. This approach also gives you the confidence that you are setting up your real-time charging solutions with the latest advancements.

At (v)WeCare, we offer state of the art, cloud-based online charging solutions that are built to scale any network’s services to the next level. With automated billing, access-based controls, and native CRM, we can provide you and your customers with the level of service that you are looking for today.

Whether you are ready to move to our real-time charging system right away or if you have any questions regarding the efficacy of our services, don’t hesitate to reach out to us today. We will be glad to answer your inquiries and provide you with solutions that fit your needs the best.

Source : http://www.techpublishnow.com/real-time-charging-system/

Employ a Convergent Charging Solution and Improve Transparency in Billing

Frequent changes in the requirements of subscribers have placed tremendous pressure on the shoulders of telecom operators to come up with exciting offers. The pressure is so intense that telcos with traditional telecom billing software are finding it hard to survive in this intense competition. The main reason for this is the lack of flexibility in their billing solutions that prevents them from launching new bundles of services and innovative plans on time. Hence, they end up losing out to competition in the race to evoke a positive reaction from the market. This leads to a financial loss, which could have been easily avoided if a capable online charging system was employed in the first place.

Why Invest in a Modern Online Charging System?

Most traditional charging systems in the past were incapable of charging users’ transactions in real time. Although the IN system used for prepaid services worked in real-time, it was incapable of offering flexible services and bundles. However, nowadays, there is an option to move to convergent billing solutions that have an online charging system at their heart. The many benefits of investing in an online charging system are:

1. Ability to deliver digitized services –

Digital transformation is beckoning the telecom industry. However, traditional billing systems that employ old charging systems cannot deliver these services as per expectation because they do not support virtualization and cloud deployment. But when you select a software solution like Telgoo5, you not only get the benefit of digitization but are also able to deliver exciting bundles and offers to your subscribers.

2. Customer authentication and management of features –

An OCS allows for customer, subscriber and service identification before providing access to a service. It also helps a telco manage auxiliary subscriber services like live balance, prepaid life-cycle and blacklist option.

3. Tracking services and calculating CDRs –

An OCS captures CDRs (call data record) in real-time. It also loads the result to the billing system database for rating and bill generation. An OCS also has the feature of tracking services and keeping them for records. All these features make an OCS a must-have for any telecom operator trying to boost his overall billing operation and attract new customers.

With an OCS as part of their telecom billing system, telcos not only get to enjoy the benefits of real time charging, they are also able to ensure that credit limits are implemented and resources are authorized on the basis of transactions made by the customers.

How to Make a Seamless Transition to a Modern OCS?

Most telcos are aware of the advantages offered by a new-age OCS; however, they do not make a switch to a new system as they are worried about its compatibility with their equipment and applications. Although there concerns are justifiable, there are some online charging systems in market that are actually backward compatible like the one offered by Vcare – Telgoo5. With such an OCS as part of your operation, you can digitalize your workflow, shift your business to the cloud and enjoy flexibility in telecom billing.