Why Revenue Assurance is Crucial for Telecom Billing Success in 2021?

 

Telecom billing is one of the most important facets of a telecom operation. Correct monetization and execution of telecom strategies is only possible with a billing solution that caters to the pressing requirements of telecom operator.

There are other aspects of a telecom business like Business and Operation Support System, which need to be managed effectively.

The Role of Revenue Assurance

Regardless of how well you are delivering the services, it is vital that you provide complete revenue assurance. In general, revenue assurance is the improvement of process and profits without impacting the demand.

Whether you are a MNO or wireless MVNO, in 2021, it is very important that you offer complete revenue assurance. Below are some steps that are needed for revenue assurance:

Flawless audit of transactions

Every transaction needs to be audited. This is vital for eliminating mistakes, which can lose you the trust of customers.

Reconciliation of carrier bills

It is crucial that every bill that you get from carriers and interconnect partners is reconciled. The billing solution should come with this feature integrated, so that everything can be done automatically.

Detection of frauds

Frauds are part and parcel of telecom business. Companies that do not have a fraud prevention strategy in place, they often lose a major chunk of their revenue.

Consistent analytics support

For a telecom business to flourish in this day and age, the role of analytics become s very important. To build a sound telecom strategy, analytics provide timely insights. For example, you learn about what your customers are looking for and monetize services accordingly.

New-Age BSS and OSS Telecom

While BSS is responsible for business-facing tasks, the OSS finds faults and takes care of the entire operation.  New technologies like NFV and SDN are incorporated in the telecom workflow, so that resources are utilized completely. Along with revenue assurance feature, you need a telecom platform that supports the innovation in telecom technologies.

Meeting the Challenge of IoT and 5G

IoT and 5G services are going to put intense pressure on telecom billing and revenue management platforms. The best telecom support systems are based on the cloud and can be employed as SaaS. These cloud-based online solutions are constantly evolving and can scale to the demand of powerful technologies.

Telgoo5 provides OSS, IoT BSS, telecom billing, revenue assurance and a wide range of telecom support services for MNOs, MVNOs and MVNEs. It is equipped with tailor-made APIs that can be installed for adding new functionalities into an existing system.