Are you unsure whether investing in a telecoms billing system is worth it? Don’t let misconceptions hold you back! In this blog post, we’ll address common doubts and shed light on the true value of adopting a billing system.
Many potential customers we speak to have a slightly skewed viewpoint of what a telecoms billing platform can do, and what’s involved in adopting a system, like ZOEY.
This typically manifests in pushbacks like “I don’t think a billing platform would benefit us” or “isn’t changing billing platforms such a BIG job…”. But these are myths that may be preventing you from evolving your operation, and we’re here to dispel them.
We believe that a telecoms billing system is not just a luxury but a necessity for your business. From enhanced customization and improved user experience to regulatory compliance and growth opportunities, we’ll explore the numerous advantages that a purpose-built billing platform offers.
So, let’s start with the key question…
Do I really need a telecoms billing system?
Technically no, but you could say the same for a lot of your systems. You don’t need a CRM system. You could put all that data in a centrally stored spreadsheet, or even a “home-made” database, and work from that. However, a dedicated CRM does so much more, which is why it’s such a strong and positive investment.
Many resellers start off similarly, using spreadsheets and accounting packages to bill customers. This however stunts their ability to grow.
Operating and maintaining a “DIY” billing solution has significant regulatory considerations too. With ever evolving legislation and guidelines from Ofcom, the ICO, FCS, and other authorities, resellers face what may seem like a never ending battle to ensure systems are compliant.
Having a purpose-built billing system allows for far more customisations, a better user (and customer) experience and reduced complexity as the business grows. Not to mention the peace of mind brought with ticking all the boxes for industry standards!
Not only will this save your team considerable time, but customers will have a more positive experience. This includes lower wait times, more accurate bills and the ability to securely check their accounts whenever they like. In turn, customers spend more and spread their positive experience through word of mouth. This leads to more new customers and increased growth!
Also, internal business intelligence and reporting is a lot easier. Key stakeholders will have a better idea of how the operation is performing and in the case of our billing platform, can view account usage and charges in real-time, with hourly CDR imports. ZOEY’s margin optimisation suite enables decision makers to easily identify loss-making services, unallocated services and high-margin services.
Have we started to convince you?
Book a call to see ZOEY in action!
Isn’t migrating platforms difficult?
Data migrations do require significant focus and attention to get it right. This is why migrations to ZOEY are fully managed by our experienced billing experts. Read our recent blog post to find out how we overcome the barriers to moving telecoms billing systems.
Our staff have a genuine passion for supporting our clients and helping them get the most from ZOEY. Their knowledge and experience are pivotal when moving an entire business’ accounts from one system to another.
Sadly, it’s not as simple as ‘just migrating data like for like’. And in fact, in many cases ‘like for like’ would not be desirable. The right billing partner will invest a lot of time to rationalise and cleanse the data, ensuring data is accurate, appropriate and compatible before moving forward to the actual migration.
In 2022, our average time spent on migration projects was 9 weeks – from signing to the first live bill run in ZOEY. In other words, in less than 3 months, we can completely overhaul and evolve your billing. From invoices to self-serve functionality, margin analysis and data protection, we improve your revenue and business growth.
When onboarding one customer, we found over £30,000 in unbilled usage. Speak to us today to prevent a similar fate!
Read our Migration Case Study to see how we helped Your Comms Group with their billing system migration.
Can’t I use my accounting package to bill my rentals?
Many accounting packages available today are capable of billing simple recurring line items, but that doesn’t mean they are suited to telecoms and IT subscriptions. Indeed, many accounting software falls short when it comes to complex billing requirements.
Accounting packages don’t…
- Calculate prorated part-month charges
- Refund advance rental on termination
- Apply ETCs for ceasing these services in-term
- Allow for supplier SDR reconciliation
- Link charges to usage bundles
- Allow for metered usage billing
Furthermore, billing calls and usage from one platform and rentals from another incurs many negative “double” effects. For example, customers receive two bills in two styles on two portals, and payment is taken from two separate Direct Debit arrangements.
This may not seem like ‘the end of the world’ but it’s not the right experience for the end user. Juggling multiple account numbers, logins for two different systems (possibly with different interfaces) and stopping payments could easily mean the wrong account is closed. Not to mention the reseller incurring additional transaction costs for the separate payments!
This separation of customer details across two separate systems may also lead to incorrect or missing data from one to another. This isn’t great from a GDPR point of view but could also severely harm brand credibility, if customers find the process too complex.
Would I actually benefit from a bureau billing service?
In a word, yes. Obviously, your particular needs may be more nuanced, but here’s why we think our bureau billing service is ideal for most growing businesses.
Firstly, the costs attached to a bureau service are far cheaper than the salary of a dedicated billing manager. While this does depend on the amount you’re billing, our costs are considerably lower than an average £40,000 yearly salary, according to Glassdoor!
Given the times we’re in, a bureau billing service would also de-risk your business from a single point of failure, such as illness absences. Offloading the billing responsibility to a specialist team enables your personnel to focus on the commercial aspects of your operation, while stakeholders stay informed at every step of the billing cycle, avoiding confusion or panic.
What’s more, our team has well over 100 years of billing experience. We developed ZOEY in-house so we know how to leverage our platform to draw out new opportunities for increasing margins and optimising costs to help your business grow.
And if the day ever comes that you’d like to sell the business, leveraging a bureau billing service means fewer overheads and staff. It is also an easier handover process, which could all make a difference when attracting potential buyers!
All told, you wouldn’t buy a Ferrari to plough fields, or use a Japanese katana to slice bread, so why would you use anything other than a telecoms billing platform to bill your customers?
And if cost is your main pain-point, we can be flexible with how and when we charge. Our support will mean your team can spend more time driving sales and growing your business, so what are you waiting for?
Summary
It’s time to ditch inadequate solutions and embrace the power of a telecoms billing platform. Say goodbye to billing complexities, double payments, and fragmented customer experiences.
Take the first step toward growth and profitability by booking a demo with our team or giving us a ring. Let’s unlock the potential of ZOEY for your business in 2023!
