Offering an Online Charging System is Needed and Here’s Why

Explaining the need for (OCS) online charging system in the modern era. Let’s just cut right to the chase; if you and your business are looking to become a household mobile virtual network operator (MVNO) brand, you need to be offering the most advanced billing and charging solution that you possibly can.

In the modern era, an online charging system (OCS) is becoming more prevalent. They are what your business and brand desperately need. Now, implementing an OCS will not single-handedly elevate your network to the cream of the crop but it most certainly can help too.

Due to the intelligence of such a system, you can shift the workload of your staff to be more efficient. As artificial intelligence programs continue to become more dominant worldwide. You need to adopt this type of ideology into your brand.

Time is Money

Every business owner will agree that time is just as important as money when it comes to maintaining and running a successful business. With an advanced online charging system at your disposal, you will be amazed at the improved efficiency that it delivers.

Additionally, this system can cut down on and even eradicate accidental billing inaccuracies. Via an outdated charging solution, hiccups can persist and your customers can suffer because of it.

The modern online charging systems (OCS) will prevent any hiccups from occurring and can save time and decrease expenses in this manner, as well.

The Customer is Always Right

The quickest way for your MVNO to fail is if you forget about the needs of the people that make it tick, in the first place. Without a moment’s hesitation, you need to place the desires of your consumers as a first on your priority list.

Although they may not know the inner workings of an OCS system, your clientele will significantly benefit from its implementation.

Those days are gone, where society needs to rely on calling and emailing to learn about their account balances and access general account information. In this age, the world is dominated by the Web and the ability for your consumers to perform actions on such a platform is mandatory.

Past the overall convenience of the real-time experience that your consumers will enjoy, it will provide them with an enhanced sense of trust and reliability for your network.

Enhanced Service Options

To stay relevant, you always need to be offering new and up-to-date services. Doing so with an advanced OCS platform is going to be so much easier.

One such example is if you wanted to offer new and exclusive discounts for some of your packages with little to no hassle. That is just one example, however, as there are several different avenues that you can explore.

Enhanced Security – Online charging system

An online charging system serves as the central point of your MVNO’s charging, which means it is also the place where critical account information is stored.

To win the trust of your customers, you need to ensure that every customer shared detail is kept safe. Therefore, always look for an OCS platform that employs robust encryption to prevent system breaches via unauthorized access.

There is Something Else

Before you go, you need to be aware of something extremely crucial. Not all OCS systems will be the same and you should avoid settling for one that is ordinary or run-of-the-mill. It needs to be highly accurate, incredibly intuitive, laser quick and impressively efficient.

This is where Telgoo5 can come into play. We have been in business for 15 years and contain vast knowledge of OCS. Even present such a system that can help skyrocket your brand. Feel free to contact us anytime. We can show you how our platform can take your brand to the next level.

Source : https://techcody.com/why-online-charging-system-is-needed/

How an Online Charging System Can Help You Save Costs

As the pace of technology evolution increases, it is very much likely that telcos would have to launch newer services at a faster rate. And, emerging technologies like 5G and IoT are much more complex than the technologies launched in the past. Therefore, it is best to partner with a vendor that can offer telecom billing systems that can not only meet the requirements of the present but also the future. Also, the telecom billing solution should be completely scalable vertically to meet the rising demands of new subscribers.

 Security of data

An online billing system based in the cloud is always exposed to hackers’ threat. To ensure security of subscriber data that is stored on the cloud, it is essential to enforce sturdy encryption measures. Also, these encryption measures need to be updated from time-to-time, in order to stay ahead of hackers that are always on the prowl. A single hacking incident can undo the hard work done over many years, which is why; security is extremely crucial in any online telecom billing system.

Source : https://tinyurl.com/ue5qytd

3 Unusual Ways to invest in Cloud-Based OCS System

Online Charging System

An internet charging framework (OCS) is a product stage that encourages continuous client charging dependent on the substance and volume of services rendered. Here are a portion of the top advantages that an OCS stage will give:

A superior endorser experience: An OCS System will enable your clients to get to their record from an assortment of cell phones. Endorsers can access rates and charges, and deal with their record continuously with an OCS. Putting resources into an OCS will in this way improve the general nature of service and make fulfilled clients.

Charge for service progressively: Waiting until after a service is rendered to charge for information utilization could bring about a major income misfortune for your organization as certain clients probably won’t pay their bills. Streamline the charging gathering process by charging your endorsers as they get to the data you give.

Procure more pieces of the overall industry and importance: One of the main approaches to grow your business as a specialist organization is to offer new and tempting services for your clients. Accomplish this with the adaptable and effective charging service of an OCS. This will expand piece of the overall industry and separate your business from your rivals.

Don’t Let Your MVNO Customers Leave, Employ Quality OCS ASAP

A bill shock is as bad for you as it is for your subscribers. It happens when a customer receives a bill that surpasses his expectations, and in not the right way. While most big operators have the wherewithal to absorb pain of a lost customer, it is the MVNOs that are worst hit by such an event. The negative publicity it generates, no matter how small, has the potential to compromise MVNO’s best laid plans, which generally revolve around creating customer goodwill. Mostly, it has been seen that such debacles happen when the OCS you have is not up to the mark.

Enhance your Prospects with a Better MVNE and OCS

Losing out on customers can be debilitating for an MVNO business. Therefore, as an MVNO owner you should focus sincerely on finding the right OCS. The best and the most convenient way to do this, is by partnering with a competent MVNE that has already delivered successfully in the past. An MVNE that is capable of creating tailor-made solutions can help you build an OCS that meets your particular requirements.

There are many things that you should expect from your MVNE, however, the two most important features you should never compromise on are:

  1. Complete convergence with itemization: Customers of today are extremely choosy when it comes to their billing. They want all their usage details and service rates to be present in their invoices. Even more importantly, they want one invoice for all the services that they are using. For this, a quality OCS is required that can charge, rate and maintain customer account information at one location. This allows for complete convergence in billing, which lets you create converged bills with complete itemization as per your subscribers’ requirements.
  • Meets 3GPP’s technical specifications – A 3GPP compliant OCS ensures no revenue loss. Hence, it is important that your MVNE can provide you an OCS system that meets every single technical specification laid out by 3GPP.

What Online Charging System For MVNO Experts Don’t Want You To Know

When a customer receives a bill that he did not expect, it is called a bill shock. Too many bill shocks and you, as an operator, risk losing your customers. The situation is particularly grim for MVNO when it comes to bill shock. As they already have a smaller number of subscribers when compared with MNOs, a loss of customers can be back breaking for their business. After analysis, it has been proven that a faltering OCS is mostly the cause of bill shocks.

Transform Your Fortunes with a Better OCS

Your OCS directly dictates how well you are able to monetize your services and bill the subscribers. Therefore, you should always pay special attention to your billing software and especially the OCS. Below are some essential functions that you should look for in your OCS system.

  1. Convergence – The constant increase in the number of services offered by mobile operators has created a need for convergence in billing. Customers simply abhor the prospect of receiving too many bills from the same vendor. An OCS that serves as a single point of charging of all services eliminates the need for creation of different bills. By using a quality online charging system, you can send your customers fully bifurcated bills with complete itemization. This creates more transparency in the billing process and fosters customer trust in your services.
  2. Adherence to 3GPP – Before selecting an OCS and telecom billing software, you should ensure that it adheres to the technical specifications prescribed by 3GPP. Only when your OCS is 3GPP compliant, you can expect real-time charging with no errors in billing. Flawless billing is the key to preventing revenue leakage.
  3. Scalability and flexibility – If your OCS cannot be scaled to meet the future requirements then it is worthless for you. Hence, you should invest in an OCS system that can perform billing and charging for an increasing customer base and expanding catalog of services. Your OCS should be flexible enough to charge present and future technologies for it to be of any real value to your business.
  4. Security of customer information – OCS has an ABMF function that stores vital customer information. This information needs to be protected from hackers. Hence, security of OCS should always be your primary concern before making a purchase. Telgoo5 is a cutting-edge OCS and it is fortified with latest security measures to prevent hack attacks.
  5. Innovative discounts – Discounts play a key role in evoking customer trust in your services. Always select an OCS that helps you quickly launch services and also apply innovative discounts. Discounts can be used for enforcing new business strategies. For example, if one of your services is not utilized by your customers as per your expectations, then you should provide the option of cross-product discounts and offer that service at a reduced price when bundled with any other popular service.

Conclusion

OCS plays a key role in managing the billing and charging functions of a telecom organization. To ensure that all billing tasks are handled efficiently and accurately, you should partner with experienced telecom billing vendors that can offer you a reliable OCS.

What to Look for in Your Next Telecom Charging System?

As companies change their focus and become more customer-centric, the importance of innovative telecom solutions has increased. Especially when it comes to accuracy in billing, there is no middle ground and you cannot survive without owning/leasing a robust and reliable telecom billing software. In today’s telecom operations, the most critical element of is OCS. After many revisions since its inception, OCS has improved dramatically and has become critical for modern-day charging and rating applications.

What is an OCS?

OCS System

Online charging system better known as OCS is a vital part of telecom billing architecture. It forms the real-time beating heart of any BSS. Every customer exchange – whether it is event-based or session-based – is accounted for by the OCS. It also features an Account Balance Management Function (ABMF) that stores and updates vital subscriber information. It is a great advancement in the telecom industry that fixes the many anomalies/limitations of erstwhile IN and offline billing systems. 

The Risks of a Flawed OCS

An OCS is the most critical component of any telecom operation. Whether you are an MVNO or a major network operator, you should understand that your whole brand image depends on this vital resource. As every user interaction is captured by OCS, it is crucial for all your billing tasks. In case your OCS is flawed, it may lead to the creation of error-ridden invoices that will be sent to your customers. If this happens, then your customers will most likely switch their operator, which will spell doom for your business. Therefore, you should put all your efforts in finding an accurate OCS solution that can be trusted.

Vital OCS Features You Should Be Concerned About

An OCS system has many attributes that determine its efficacy in any business model. While different telecom operators may have their own preferences about these features, there are some important attributes that are critical for all telecom billing operations:

  1. Security against hackers – The threat of hackers looms large over any business that is done on the Internet. As an OCS is connected to the web at all times, you need to pay special attention to the security measures employed by the OCS provider. Without proper security, you risk losing all the goodwill generated over many years in a matter of seconds.
  2. Scalability – The subscribers of an operator keep on changing with time. Without a scalable OCS, you are unable to keep up with the varying demand. Hence, scalability of the OCS should be kept as a top priority.
  3. Provision for future technologies – An OCS should not only address the present-day requirements but it should also be ready to meet the future needs. It should be able to fulfill the requirements of highly-promising technologies like 5G and IoT. Without any provision for future technologies, you might have to constantly change your OCS system, which is definitely bad for business.

The Long and Hard Journey of Telecom Billing

The commercial success of the Online Charging System (OCS) deployed by telcos is a testament to the ever-evolving telecom billing technology. Not so long ago, it was hard to fathom how telcos will be able to accommodate so many new offerings (like 2G, 3G,4G, VAS, OTT etc.) as part of their service. But with consistent development, we are at a juncture where we see convergent billing and real-time charging making things simpler than ever before for both customers and the operators. But the work of telcos has not ended yet. With 5G and even 6G beckoning; and IoT becoming the next big thing in the market, the time to evolve has only just started.

The Age-Old Formula of Success

efore we go any further and analyze what the future holds for the telecom industry, it is best to first look at the basic formula that has worked so well for telcos. It has always being the ability to adapt one’s billing according to the services that need to be offered, which has driven MNOs (Mobile Network Operators) to success. In other words, it is how fast and how well you can adapt to the ever-changing telecom charging system architecture that dictates your success over competitors. Therefore, it has become imperative that you keep yourself armed with a competent OCS System, which can adjust to the future requirements. Flexibility, versatility, multi-tenancy and convergence are the key ingredients for a worthwhile telecom billing system.

The Evolution of Billing Systems

In the latter part of the 20th century, telcos realized that their offline charging system was causing revenue leakage as it was not able to provide charging information before a service was delivered. This was causing problems, especially in prepaid billing. To fix this problem, an IN-based system was conceptualized that was able to authenticate users and check their account balances before delivering services. It worked well but it had some restrictions in terms of creating flexible plans. After that, OCS was conceptualized, which could not only charge customers in real time but also allowed telcos to launch attractive bundles of services with great flexibility. In 2010, we saw our first glimpse of convergent billing. The convergent billing system allowed for the integration of several service charges onto a single customer invoice, which provided more transparency in telecom billing.

What The Future Holds for the Telecom Industry?

As AI (Artificial Intelligence) becomes the new trans-formative technology, we are more than likely to see a shift towards data sciences dictating the telecom operations of the future. The vast amount of data crunching would require you to have access to state-of-the-art quantum computers and probably an OCS version 2 for getting the job done. Also, we are expected to see the erstwhile OSS/BSS model (which assigns computer systems for pre-designated tasks and is highly inefficient) become obsolete and phased out. Instead, we will have technologies like NFV (Network Function Virtualization) and SDN (Software Defined Network) that will drive a new OSS/BSS model with better utilization of resources.

MNO, MVNO, MVNA, and MVNE: What’s the Difference?

The modern-day telecom industry is going through transitions faster than ever before. Addressing the demands of finicky customers, fighting off the competition at every step of the way and countering the threat of OTT platforms is proving too much to handle for even seasoned telecom operators. This is the main reason why they are trying to maximize their outreach in every way possible. As a result of their efforts, new platforms for telecom service delivery have being created in the form of: MNO, MVNO, MVNA, and MVNE.

Why MVNOs Have Become so Popular?

Online Charging System for MVNO

While an MNO (Mobile Network Operator) builds his operation from the scratch and make investments in creating network infrastructure, radio frequency spectrum, HLR, VLR, BSC, MSC, OSS etc., an MVNO (Mobile Virtual Network Operator) receives frequency spectrum and network resources at a cheaper rate from MNOs (Mobile Network Operators). This allows it to sell its telecom services at a lower rate and attract new customers.

An MVNO does not have its own network but uses a network from a carrier or MNO. An MVNO can be a full MVNO with its own HLR. Such MVNOs only use an MNO’s radio base stations for providing 3G, 4G or 5G services. On the other hand, a light MVNO mainly focuses on relations with customers along with marketing and billing. It does not have its own HLR.

Whether full or light, to become MVNO you need good marketing skills and a unique idea that differentiates you from other players in the market. You can either specialize in mobile data and become a data MVNO or earn your stripes in providing voice call services. But whatever you do, make sure that you are excellent in the niche that you have chosen. Good customer relations and the ability to attract new customers are essential for any MVNO to succeed.

The Importance of MVNE/MVNA Partnership for Overcoming Challenges

As MVNOs are considerably smaller than a full-fledged MNO (Mobile Network Operator), they need support from MVNEs (Mobile Virtual Network Enablers) to get their job done. A capable MVNE with a comprehensive MVNO software solution like Telgoo5 can provide the following benefits to an MVNO:

  1. Better billing – Billing is probably the toughest task for an MVNO to undertake all by itself. Any mistake or inefficiency in billing tasks can have a major bearing on MVNO subscribers. But when you partner with an MVNE like Vcare, you get access to a cutting-edge MVNO billing software solution. With a convergent billing solution by your side, you can create itemized bills with details of all types of services used by your subscribers.
  2. Profitable deals with MNOs – Partnership with a competent MVNE/MVNA can help you get better-priced deals with an MNO. This will allow you to deliver the services at a lower rate to your MVNO subscribers while still making a profit.
  3. Avoid red tape – Running a successful MVNO operation requires you to get into contracts with different carriers and vendors. By partnering with a competent MVNE like Vcare (who already has fully-licensed platforms and contracts with vendors), you are able to bypass the process of signing new deals, thereby saving considerable time and effort.

WHY YOU SHOULD EMPLOY AN OCS THAT COVERS REQUIREMENTS OF PAST AND FUTURE?

Nowadays, telecom industry is in a state of flux. Every telco is looking to venture into new territories to compensate for the money lost to competition and OTT (Over the top) services. In the past, telecom operators used to thrive on revenue generated via voice calls and SMS. However, in the present times, the range of services that they need to deliver has widened considerably. The legacy systems employed by telcos no longer do justice to the modern innovative telecom services that need to be delivered. Moreover, telcos require most services to be delivered in real time, which is why; a flexible and real time charging system is needed for timely tracking and accurate billing.

Online Charging System: The Backbone of a Successful Telecom Billing System

An online charging system is a must-have for any modern telecom billing system. An OCS is essential for telecom operators as it lets them:

  1. Charge on the basis of events e.g. SMS
  2. Charge on the basis of sessions e.g. calls

OCS is a real time charging system that allows the telecom operators to control credit. At the same time, it also allows users to control what they spend. Although an OCS is a vital part of any present-day billing operation, it can only be of true value if it works with the applications of past and is designed with an eye on the future requirements.

Importance of a Future Proof and Backward Compatible OCS

There are many attributes of an OCS that make it stand out. However, the most important aspect of an OCS is how well it works with your legacy solutions. The compatibility of an OCS with your pre-existing equipment and applications allow you to introduce it into your workflow without hampering your current billing tasks. Also, an OCS should be flexible enough to accommodate the requirements of near future like 5G offerings, so you do not have to change your billing systems frequently to meet constantly changing technology.

There are many other features that make an online charging system worthy of your business. Have a look at some of these key features of an OCS:

  1. Analytics – Most traditional OCS solutions available in the market do not support analytics, which is why; telecom companies often struggle to understand customers’ requirements. Hence, they are unable to devise new plans to attract customers towards their services. However, there are many cutting-edge real time charging systems available in the market that come with analytic features. Using such OCS solutions not only helps you in your present tasks, it also helps you forge better business strategies for the future.
  2. Adaptability with complex revenue management – There are so many revenue streams (for a telecom business) nowadays that keeping track of each one of them can be difficult for a telecom operator. Prepaid, postpaid, IPTV, different type of data services and OTT partnerships, there is simply too much to handle for telcos. In this complex situation, a revolutionary online charging system can simplify their work and ensure accurate completion of real time charging and billing tasks.