The telecommunications industry has experienced exponential growth in the last several years across all regions, which has led to the increased demand for accurate billing systems.
What is Telecom Billing?
Telecom billing refers to the process of collecting and categorising the usage of telecommunication products or services for specific customers for the purpose of producing invoices, and recording and storing payments that are made on those customer accounts.
The complexity associated with mobile device technologies as well as pricing plans that telecom service providers offer ultimately paved way for the development of robust and effective telecom billing systems.
It is hard to deny that a robust telecom billing system is an integral component for any telecommunication provider. That’s why it is important to define the benefits of a telecom billing system:
Electronic Billing Features
Offering subscribers a reliable and efficient mode of payment for telecom associated bills is a definite game changer within this incredibly competitive industry.
Having an effective telecom billing solution should offer your subscribers the option of electronic bills that allow them to view their bills on various digital devices such as tablets, computers or even smartphones.
The feature also allows the telecom company to save a considerable amount of money that would have otherwise been spent on bill printing. The saved money can then be used for other equally important services withing the company.
Data Record Validation
Efficient telecom billing solutions should be capable of identifying and eliminating identical records in the system through the use of unique numbers of datasets that ensure anti-duplicate protection. The screening process helps reduce errors associated with double billing of the same account.
Reducing Billing Process Errors
Telecom service providers offer different pricing plans that include billing charged with regard to the time of day, per minute billing, etc., which is why the process of billing is inevitably a complex undertaking.
Errors in billing may affect the brand image of a telecoms service provider and may result in a loss of subscribers to the competition. Fortunately, a robust telecom billing software provides quality assurance to the company.
Provides Detailed Billing Data
Telecom subscribers are always looking out for ways to lower their telecom expenses. Providing them with detailed data regarding their telecom uses furnishes them with data that they can then use to make better decisions.
A detailed billing report ideally includes monthly data on a subscriber’s call duration, date and time when the calls were made, data expenses, message analytics (sent, received, delivered), etc. The report should ideally be easily accessible by subscribers via the company’s online portal after inputting a subscriber’s login credentials.
Supplies Management with Reliable Data
An efficient and effective telecom billing system should be capable of tracking all telecom-related expenditures i.e. assets, usage, subscription rate, etc. The telecom management team can then use this information to make better and more informed decisions regarding the growth trajectory of the company.
Easy Management or Changing of Pricing Plans
The telecommunications industry is an incredibly competitive one and companies regularly adjust their pricing tariffs. An effective telecom billing solution should be capable of easily allowing telecom companies to implement new pricing tariffs without the disruption of on-going billing processes.
Streamlined Budgeting Process
An efficient telecom billing system allows telecom service providers to manage budgeting processes within a stipulated range. The system tracks the telecom company’s clients’ expenditure and alerts the company once certain milestones have been exceeded thus allowing the company to rapidly implement appropriate solutions for keeping expenses low.