Running an MVNO successfully in the current state of telecom industry is not an easy feat. Especially for the ones who are new in the business, it requires great understanding of different verticals and a problem-solving attitude. Although an MVNO gets its network resources from an MNO, it still has its hands filled with a host of other responsibilities. Every single day is crammed with challenges, which need to be overcome with a resilient attitude and a versatile telecom billing solution.
The Importance of Telecom Billing Solution for Customer Experience
Telecom billing has evolved into a huge challenge for MVNOs to tackle. A quality billing solution can be the difference between success and failure. Below are some reasons how a good telecom billing solution can improve customer experience of your MVNO:
1. Provides convergence in billing – A convergent billing solution can be a worthy asset of an MVNO as its make billing more reliable. When you are able to send descriptive invoices that have all service charges mentioned on a single piece of document, subscribers appreciate the transparency in billing. At Telgoo5, we employ a centralized charging platform i.e. OCS for charging prepaid, postpaid, data-based, broadband and other telecom services at a single point. Our OCS performs true real-time charging and eliminates revenue losses and account overcharge.
2. Minimizes customer complaints – Billing disputes are often the reason why customer leave an MVNO. Customer attrition is a huge deal for MVNOs as they already have limited subscriber base and can’t afford people opting out of their subscriptions. A high-quality billing solution platform comes with complete reporting capabilities, which allows MVNO to investigate issues that arise.
3. Quick query resolution – The pace of an automated real-time billing platform lets your customer support team perform quick query resolution, much faster than a legacy billing solution. Hence, customers waiting time in queue is reduced considerably and they are able to get back to their work fast.
Apart from customer services, a versatile billing solution offers other advantages as well:
1. Quick monetization of services – Telecom industry is an extremely competitive domain. Here, delivering innovative services is important, but even more crucial is to bring them to market quickly. This is why MVNOs require a billing solution that can monetize innovative plans and new service offerings quicker than their competitors.
2. Attractive discounting schemes – Nothing garners more customer interest than discounts. Therefore, a telecom billing solution should be procured only if it allows you to stack up different services as part of packages with interesting discounts. Creative discounting schemes like cross-product discounts can work wonders for your business as it lets you club your popular services with less popular ones and improve revenue through an increased ARPU (Average Revenue per User).
3. Allows for OTT services – OTT services, like video streaming and data-based calling, have become popular amongst young users. An MVNO should be able to package these services innovatively, for which, it needs a billing solution that allows for third-party partnerships. For example, an MVNO can associate with digital content providers and start offering their services along with its base plan. Telgoo5 allows for convenient third party partnerships via APIs and helps MVNOs increase their outreach and service portfolio without exerting themselves.
4. Security and safety of data – Last but definitely not the least, security and safety of data plays a huge role in the long-term success of MVNO. Even a single incidence, in which, customers’ data is compromised to hackers or lost due to server destruction can burn the bridges of trust built with the MVNO subscribers. At Telgoo5, you get a completely secure billing platform that is secured with robust encryption that protects information while it is stored or transmitted. Also, the billing solution is based on the cloud, which means the information is saved at multiple datacenters. Therefore, even when there is a natural or human-inflicted catastrophe at one of the locations, the customer information remains secured at another datacenter.
Publish Date: December 17, 2019 8:35 AM