Don’t Get Lured By Custom Telecom Billing Software, Employ API-Powered System ASAP
Every few months we see a new technology launched that promises to reshape the way business is done in the telecom industry. A high level of competition instigates a direct response from telcos that look to integrate this new tech as part of their offerings ASAP. However, not all technologies are useful and hence do not succeed in evoking the expected response from the subscribers. And in the meanwhile, telcos spend large sums of money on customizing their Telecom Billing Software in order to accommodate the (now) failed tech. Such incidents happen way too frequently and incur major financial losses. However, these situations can be easily avoided by employing an AI-powered telecom billing software.
Leveraging Telecom Solutions with APIs
Telecom Billing System Architecture keeps on evolving as per the recommendations of 3GPP. Once defined by 3GPP, there is very little a telecom operator can do to change it without risking revenue losses. In these scenarios, APIs provide a convenient way to communicate services without any need for a major overhaul in the software. For instance, a call screening API can immediately allow users to filter voice calls based on denial and acceptance list. There is no need to make wholesale changes in the software itself for accomplishing this task.
And, when it comes to MVNOs (Mobile Virtual Network Operators), such APIs can be even more useful. Imagine a scenario where an MVNO needs to add a certain payment gateway. In dearth of a relevant API, it would be impossible to add the payment gateway without amending the software, which can be very costly. However, an API, like the one offered by Telgoo5 can instantly add a payment gateway that the subscribers desire. All that an operator needs to do is call up its telecom billing vendor and ask him for the permission to use the relevant API. Apart from payment gateways, APIs can be used for a variety of other scenarios like forging new partnerships and launching various OTT services to counter the threat of non-telecom OTT services providers.
What Else You Should Look for in Your Next Telecom Billing Solution?
Although APIs are important, there are many other facets of Telecom Billing Software that need your due consideration. Have a look at some of these features:
- Security – Your billing system is a trove for massive amount of customer information including their email address, house address, credit card details etc. This information, if compromised, can lead to customer distrust and may be detrimental to your business. Hence, always partner with a vendor that safeguards the data by employing stringent security measures and updates them regularly to ward off future security threats.
- Convergent billing – A centralized charging system like an OCS is required to implement convergent billing. An OCS charges all the services in real-time and allows for the creation of a single invoice that reflects all usage charges.
Analytics – Telecom Billing Software Solutions generate vast amount of data that can be put through analytics for deriving valuable insights. These insights can be used for creating future business strategies to achieve maximum business gains. Hence, always invest in a telecom billing system that integrates analytics functionality.