There has been exponential growth in telecommunications services and the industry has grown a lot over the last few years. This huge growth has also created a demand for more efficient billing systems.
In simple terms, it may be defined as the process of combining the use of various telecommunication products or services for a particular set of accounts or customers in order to record their transactions. It helps in producing and sending invoices as well as recording the payments made to the customer accounts.
The technology that is employed in the mobile telecom space, as well as the pricing plans offered by various telecom service providers, is extremely complex and this has led to the development of telecom billing systems that are much more effective and robust. Needless to say, your telecommunication company needs a robust and efficient telecom billing system, such as Intelligent Billing.
Telecom Billing System – Benefits
The telecommunications industry is highly competitive and when you are able to offer a more efficient and reliable mode of payment to your subscribers, it gives you a head start on your competitors.
Ideally, an effective billing system should allow subscribers to view their bills on various digital devices including their computers, tablets or smartphones. It also saves a lot of money for the telecom companies as there is no need to spend money on printing bills. The money saved in this manner can be used on various other initiatives within the telecom company.
Data Record Validation
An efficient billing solution in the telecom industry is the one that is capable of identification and elimination of identical records with the help of unique datasets in order to avoid any duplication. It helps in reducing double billing errors in the same account.
In this highly competitive industry, telecom service providers offer a wide range of pricing plans to their subscribers such as different rates of billing depending on the time of the day or per minute billing, which has made the overall billing process an extremely complex issue. When billing errors happen, it has a negative effect on the brand image of the telecom company, and it may lead to loss of subscribers. High quality billing software ensures that a company is able to reduce or bring down the billing errors to almost nil.
Complete Billing Details
These days, subscribers are always searching for ways to reduce their telecom bills. When you are able to give them detailed date on their telecom usage, it helps them in making informed decision. A billing report for a telecom company should include the monthly data related to call duration, time and date of calls, data expenses as well as data on messaging such as number of messages sent, received as well as delivered, and other such things. Subscribers of the company should be able to access all this data easily through the online portal of the company by using their own unique login credentials.
Management Gets Reliable Data
Efficient telecom billing software should provide records of all expenditure such as rate of subscription, assets, usage and so on. The management team can use this data to make more informed decisions as per the growth trajectory of the company.
Better Management of Pricing Plans
Due to the hypercompetitive nature of the telecommunications industry, companies have to adjust their pricing tariffs rather frequently. A well-designed telecom billing solution will allow the telecom company to quickly implement any changes without any unnecessary changes to the ongoing billing processes.
Budgeting Process Streamlining
A well-designed telecom billing system will allow telecom service companies to keep their budgets within the stipulated range. The system should be able to track the expenditure of the company’s clients and alert the company whenever a pre-set milestone is exceeded. It will allow the company to implement the necessary solutions to manage things and keep expenditure within the budget.