Customers can choose from a variety of plans and rates and tariffs based on the services included in their subscription. Telecom companies are charging their consumers in a variety of methods, including a monthly fee, pay-as-you-go, or a combination of both. In order to keep consumers pleased and get appropriate payments for services delivered, a telecom business should be cautious when applying complicated charges and issuing accurate invoices. These days, many telecoms are using Convergent Charging System and offering combined voice, video, and internet services in order to keep their present subscriber base to attract new consumers. Flexible pricing plans, service offers, and fast changeover between postpaid and prepaid payment types are obstacles for these service implementations.
The Billing and Charging system is a highly flexible, real-time, pulse-based, prepaid-postpaid convergent rating and charging engine. It works with legacy and next-generation networks. Its integrated platform enables the fast implementation of complicated, value-added data, phone, and video services.
The convergent charging system enables service providers in order to integrate billing procedures for all of their clients. It is also providing real-time and near-real-time rating and charging. It manages rate regulations in a centralized interface in order to prevent revenue leakage, mistakes, and fraud throughout the client’s lifetime.
The features of A Convergent Charging System
Telecom billing is the process of collecting data regarding telecommunication service consumption. It also organizes that data, adds service charges, sends bills, and receives and stores payments from subscribers as part of a business support system. Billing, in other terms, is the method for monetizing communications services. A telecom company becomes a charity if it doesn’t bill.
Different businesses use various billing software in order to fine-tune their accounting systems. Telecom billing is nothing but the process of gathering consumption, aggregating information, adding applicable costs. It is eventually creating invoices for clients. So, receiving and recording payments from clients is also a part of the telecom billing process.
Consider the following features in your software:
- Instant New Invoices – Professional credit/debit tables are immediately analyzed by competent software. It should be able to easily cite and integrate various schemes along with timesheets, and consumer reports.
- Individual Customer Tracking – Creates a single database that neatly separates a client’s purchases, pertinent files, and a simple filter search option for quick access.
- Fast receiving & Information Transfer– A central server facility that will assist you in sending all of the most recent updates and information to your consumers. All prior records will be easily accessible from the database.
- Credit Card Evaluation – A contemporary billing sequence should generate simple bills by processing credit cards rapidly. It automates the invoicing process and increases consumer oversight. Credit card auto-billing is now possible with newer technologies. It also ensures that clients are will not get notice of earlier debts.
- Generate Tax Reports – A good convergent charging system should avoid the requirement for manuals or several apps. It should readily summarize and offer you an appropriate tax return depending on the years of operation.
Telecommunications billing is the lifeblood of the industry.
Telecommunication refers to various types of electronic interactions between users, such as making phone calls, sending faxes, texting, video messaging, exchanging data and images, and so on. Telecommunication services include phone, radio, television, and the internet. Cables, fibre optics, radio towers, satellites, and other means are helping to deliver. With the help of operations and business support systems, a telecom operator operates transmitters and media networks by delivering services to its subscribers.
Benefits to the Telecom Industry
Telecom services have been pretty straightforward to handle and charge for the past ten years. However, the introduction of 5G has resulted in more complicated product portfolios. It requires a rethinking of telecom pricing.
Different CSPs (Communication Service Providers) have developed different tactics and business models in order to compete in this new climate. This has resulted in a greater variety of services. It includes varied price structures and, most importantly, billing.
Billing is one of the most important considerations for CSPs in providing improved client experiences. It is also extending its service offerings and concentrating on operational excellence. No matter, what is it? It may be retail billing, enterprise billing, interconnect billing, roaming billing, split billing, MVNO/MVNE billing, carrier billing, convergent billing, e-billing, video billing, or any other.
It’s tough to envisage the telecom business without a viable answer in today’s environment. As a result, telecom firms must strengthen their operations by using a top-notch Billing & Charging solution.