Trends shaping the future of telecoms billing software

5 Trends shaping the Future of Telecommunications Billing Software

In today’s fast-paced world of telecommunications and IT, keeping up with telecom billing trends is essential for business sustainability. Telecoms billing software has undergone significant changes to cater for the evolving needs of both customers and service providers. Our post ‘The Billing Revolution – How Telecoms Billing has evolved over the last 5 years’ details some of these recent changes.

Understanding future trends is vital for companies seeking to streamline their operations, enhance customer experiences and remain competitive. In this blog, we delve into the trends shaping the future of telecommunications billing software, reflecting the industry’s response to the complexities of services offered, rising customer expectations and the integration of advanced technologies.

 

Top Trends Shaping the Future of Telecommunications Billing Software

1. Billing a Broad Range of IT and Telecoms Services in a Single Invoice

As services diversify, resellers have expanded their portfolios, offering a myriad of services from UC and connectivity to IT subscriptions, cloud solutions, support, hardware and more. The challenge however lies in consolidating these varied services into a single, coherent invoice.

Whilst some business software (CRM, PSA systems, accounting platforms, etc) may be able to generate a basic invoice for some of these services, it’s rare that any one platform can bill all services together. It is rarer still that they can offer the same value add features of a dedicated billing solution.

A future-proof billing solution should be agnostic of both billed product types and wholesale suppliers. It should also support various billing models like “as-a-service” or metered usage, ensuring flexibility for the future. Streamlining diverse services onto a single invoice is vital to enhance the billing experience for customers and allow them to manage different services through a converged billing system.

We have streamlined the capabilities and experience within ZOEY to make managing multiple supplier relationships easier. This includes ensuring reporting focuses on numerous suppliers and providing partners with a seamless single invoice. In addition, our supplier reconciliation checks provide revenue assurance by ensuring everything that is billed to our partners by their suppliers is effectively captured and billed out through their telecoms billing system. Manual reconciliation, especially with a growing number of suppliers, is both challenging and time-consuming.

2. Extensive Self-Service Functionality for Real-Time Insights

Self-service platforms have transformed customer interactions. The ability for resellers to offer their end customers real-time insights into usage and spending is crucial, often determining whether they win or lose a tender.

A telecoms billing platform that can offer predictive analytics, tailored insights, proactive alerting, and self-service estate management is paramount. This is not only about the provision of data but creating deeper connections between resellers and their customers. By prioritizing these self-service options, telcos empower customers to take control of their accounts, resolve billing issues independently, and make billing-related tasks more convenient. This not only improves customer satisfaction but also reduces the burden on customer support teams, leading to operational efficiency gains.

3. Near Real-Time Billing

There is growing partner demand for near real-time information and automatic CDR imports to enhance responsiveness, improve cash flow and prevent unexpected surprises. We’ve seen a rising trend in partners switching to suppliers who offer more frequent CDR files. Daily CDRs are no longer the standard, rather there is a growing expectation for hourly CDRS to be able to effectively apply spend caps and near real-time alerting.

4. Adding Value through your Telecommunication Billing Software

When choosing a billing vendor, resellers should consider more than just financial transactions. A telecom billing system should offer a range of complimentary features to enhance the overall value proposition.

A fully branded self-service Customer Portal serves as a gateway to a personalized user experience. It reinforces brand perception and customer loyalty, whilst providing a seamless platform for managing services and payments. Real-time reporting and comprehensive trend analysis empower channel companies with actionable insights, enabling them to make informed decisions that optimise revenue streams and operational strategies. These features represent strategic investments that position companies for sustainable growth and customer-centric excellence.

To find out more, read ‘Creating a Competitive Advantage with Billing‘ and discover how your telecom billing software can help increase sales, reduce costs, increase productivity and optimise margins.

5. Integration of Systems

Billing has evolved into a strategic function which should integrate with other vital systems and tools. This integration is not only about operational efficiency but eliminating the common pain point of communication gaps between different systems. In turn, resellers can derive actionable insights from consolidated data that drives intelligent decision-making. It is important that a telecom billing platform has a comprehensive set of open APIs to enable this integration.

6. Complex Tariff and Rating Capabilities

Supporting complex tariff and rating capabilities is imperative in today’s diverse service landscape. A flexible rating engine ensures accurate billing for various services, enhancing customer satisfaction and loyalty. It also provides resellers with the flexibility to refine commercial strategies and maximize margins, offering a real competitive edge. The ability to create a disconnect between your wholesale and retail propositions, gives you greater control over your billing decisions. This enables you to differentiate from competition rather than simply uplifting the wholesale proposition as is.

Embracing Change for Success: ZOEY in Action

Tekton Billing’s software, ZOEY, is a cutting-edge solution designed to help partners improve their telecom billing, enrich their customer experience, optimise their profit margins and grow their business. Our partners have celebrated the positive results of adopting ZOEY, shared in some of the comments below:

  • “Tekton’s billing platform has changed our business. It has helped us increase revenues by improving the visibility of profit margins. The portal is easy to use and has may features. The migration was seamless and quick…”
  • “The system itself blows the other systems I’ve used out of the water and makes the billing process quick and easy. The customer portal functionality is fantastic and allows self-service for customers that not even the big networks offer. They may be fairly new on the scene compared to some of their competitors, but this has allowed them to re-think how a billing system should work and man it’s good!”
  • “Best billing platform for the Telecoms industry by far! Our existing platform was far too rigid and didn’t move with the times. Moving to Tekton was a breeze, far greater flexibility which in turn has led to greater profits!”

 

Telecom Billing Trends – Summary

Understanding the evolving trends shaping the future of telecommunications billing software is crucial. By embracing a billing platform that can support a range of services, add value and offer extensive self-service functionality, businesses will remain competitive and provide exceptional support. Moreover, a telecom billing platform that is flexible and can integrate seamlessly with other core systems will enhance customer experiences and optimise operational efficiency, ensuring businesses thrive in the ever-changing world of telecommunications.

 

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