When we talk about a telecoms billing system, it’s easy to envision invoicing, cashflow management and revenue assurance. While these are vital functions, a billing system is not merely a tool for generating accurate invoices. It holds the key to driving competitive advantage and adding substantial value to your business.
In this dynamic industry, a modern and intelligent billing system can be a game changer, differentiating your business. For Channel Partners, it is the most important piece of software within their internal systems. Read this blog to discover how your telecoms billing system can add value by increasing sales, reducing costs, increasing productivity and optimising margins.
How your telecoms billing system can add value and drive competitive advantage:
1. Increasing Sales
The right customer portal can greatly affect customer perception. A fully branded customer portal with self-service functionality, personalised branding and custom URLs can set your business apart, enhancing brand credibility and driving sales.
Tekton Billing’s customer portal, with its targeted pop-up marketing messages, fully customisable HTML email templates, social media integration and extensive PDF branding, covers all bases to drive growth and provide cross selling opportunities. Indeed, many of our customers have won business on the strength of the ZOEY platform alone.
Moreover, as the range of services offered by resellers expands, integrating all IT and telecom services under one invoice becomes paramount. Convergent billing capabilities provide a seamless customer experience, a real USP that improves brand perception and ultimately drives sales.
Read more about how you can increase sales through your billing system.
2. Reducing Costs
In a fiercely competitive landscape, where connectivity services are commoditized and end-user pricing is being driven as low as possible, reducing costs is crucial for the long-term success of all resellers.
Your billing platform plays a pivotal role in this. Buying data in bulk and being able to disconnect your billing between your wholesale suppliers and retail customers, enables you to reap economies of scale and manipulate pricing.
You can also reduce billing overheads with advanced self-serve functionality. This allows end users to check their own usage, set spent limits, create alerts, manage bolt-ons and even perform SIM swaps. Empowering customers in this way reduces the need for large headcounts in your support team, cutting your billing overheads and costs.
Read more about how you can reduce costs through your billing system.
3. Increasing productivity
A billing platform that enables massive bulk changes and automation increases your efficiency. This efficiency not only increases your productivity and reduces your billing overheads, it takes human error out of the equation. This results in more accurate bills and better cashflow. Self-serve functionality is another area that can significantly increase productivity and reduce costs.
Finally, intelligent reporting is indispensable in a data-rich environment. Telecoms billing is awash with data, from which valuable insights can be learnt. However, the right platform is required to translate and visualise this data into actionable insights. An effective billing system provides intelligent and automated reporting to help identify loss-making services, unallocated services and high-margin charges. This helps increase productivity and allows for better decision making, enabling you to focus on the activities that drive revenue to your business.
Read more about how you can increase productivity through your billing system.
4. Optimising margins
Now more than ever, Channel partners need to squeeze every penny out of their margins to secure stable, long-term commercial success. A billing system can help to maximise margins by streamlining billing processes, improving accuracy and providing valuable insights.
The ability to set complex tariff and rating capabilities provides an essential disconnect between wholesale and retail which allows you to refine your commercial strategy. You can take advantage of this flexibility to restructure propositions, purchase group data bundles and repackage items to be sold on a retail basis which can be entirely different to the purchased wholesale proposition. This results in classic economies of scale and greater buying power, enabling cheaper data purchase.
Billing systems also have a key role to play in invoice reconciliation to avoid missed revenue. Pre-invoice reconciliation checks that cover call files, usage charges, suppliers, supplier charges, credit and periodic charges are critical to ensure all revenue is accounted for. ZOEY’s revolutionary margin analysis suite and reconciliation tools highlight missed revenue opportunities. One partner unearthed £33K of revenue missed by their old system when migrating to ZOEY!
Read more about how you can optimise margins through your billing system.
Billing systems aren’t just about accurate invoices; they’re your key to competitive advantage. You can supercharge your business by leveraging advanced billing strategies that go beyond the basics to drive success in sales, cost management, productivity, and margin optimization.
For more information on any of the points above or to experience our one-of-a-kind telecoms billing system, get in touch.