The transition of the Telecommunications industry to a digital sector that converges to a large extent with the IT and Tech sector has changed the customer demand and expectations for service.
A billing platform changes your business model. It enables the partner to have multiple suppliers, various products, create bundles and packages all on one invoice to the customer with minimum input.
With an industry requiring automation, diverse product sets and accommodating digital transformation using an established billing platform model should be a top priority for any partner wanting a solid place in the industry.
The top changes we can see in the billing proposition:
With the Telephony industry increasingly experiencing decreased revenues, in an ever-evolving highly competitive industry, there is a need for automation and optimising resource. Having a billing system capable of automating processes such as loading CDR and SDR from multiple suppliers producing one invoice to the customer capturing all products and services is vital.
Automation within the billing platform, which produces feeds for accounting packages and sends the collections to the bank to collect direct debit, provides a seamless monthly billing cycle without much input from your side. It enables the partner to be operationally leaner and more efficient in providing customers with value-for-money services and keeps their operational cost-to-serve low.
Diversifying product portfolio
The Telecoms industry was once just that - providing telephone lines. Now it encompasses a broader portfolio including connectivity, hosted solutions and software-based applications. The lines between the Telecoms industry and IT sectors are becoming increasingly blurred meaning Telecommunications companies need to diversify and provide data and voice services which are high quality, reliable and affordable.
A billing platform should be capable of loading and rating service from varying sources, to encompass all elements of the products the customer consumes, to allow bundles and packages. This would enable the customers’ monthly billing experience to be streamlined - an efficient one- bill, one-payment solution. Customers now expect to have an online portal to download their monthly invoice and view daily usage.
Businesses throughout the UK are leveraging digital technologies to improve their day to day operations, improving efficiency and performance. Digital Transformation encapsulates other trends reliant on fast and reliable connectivity such as automation, IOT and adopting cloud-based telephony. In adopting a billing platform with Automation and the capability to invoice all services on one bill the resellers can provide end to end services on one invoice.