The telecommunications industry has been growing from the last couple of years across all over the world. Development of telecommunication industry raises the demand for efficient billing systems.
What is Telecom Billing?
Telecom billing is the process of gathering and grouping the use-age of telecom services or products for specific accounts or customers for the purpose of recording their transactions in order to produce and send invoices, record and store payments made to those customer accounts.
The intricacy related to mobile device technologies and pricing plans offered by telecom service providers ultimately paved the way for the development of effective and strong telecom billing systems.
There is no denying that having a strong telecom billing system is an essential component for your telecommunication outfit.
Advantages of Telecom Billing Software
Electronic billing features
Providing your Customers with an efficient and reliable mode of payment for their telecom associated bills is definitely a game changer within this competitive industry.
An effective telecom billing solution should provide subscribers with the option of electronic bills (E-bills) which allows subscribers to view their bills on digital devices such as smartphones, tablets or computers.
This feature also allows the telecom company to save a lot of money that would have been spent on the printing of bills. The money saved can then be utilized on other essential services within the company.
Validation of Data Records
An efficient telecom billing solution should be able to identify and eliminate identical records in the system using unique numbers of datasets to ensure anti-duplicate protection. This screening process reduces errors associated with the double billing of the same account.
Reduces Errors Associated With The Billing Process
Due to the different pricing plans provided by telecoms service providers to subscribers such as per minute billing, billing charged as regard to the time of the day etc, the billing process is obviously a complex undertaking.
Billing errors can affect a telecoms brand image and can result in the company losing its subscribers to competitors. A robust telecom billing software provides an assurance of quality to the company.
Provides Detailed Billing Data
Telecom subscribers are always on the lookout of ways of how they can reduce their telecom expenses. Providing them with detailed data on the telecom usage enhances them with data they can use to make informed decisions.
A detailed billing report should include monthly data on a subscribers call duration, time and date when calls were made, message analytics (received, sent, delivered), data expenses etc.
This report should easily be accessible by the subscribers from the company’s online portal using a subscribers login credentials.
Empowers Management With Reliable Data
An effective and efficient telecom billing system should be able to track all telecom related expenditures i.e. usage, assets, the rate of subscription etc.
This information can be used by the telecom management team to make better, more informed decisions pertaining to the company’s growth trajectory.
Easily Change and Manage Pricing Plans
The telecommunication industry is extremely competitive and companies usually adjust their pricing tariffs every so often.
An effective telecom billing solution should be able to easily allow a telecom company to implement new pricing tariffs without disrupting any on-going billing processes.
Streamlines the Budgeting Process
An efficient telecom billing system enables telecom service providers to manage their budgeting processes within their stipulated range.
The system tracks the telecom company’s clients expenditure and provides alerts to the company when set milestones are exceeded enabling the company to quickly implement appropriate solutions to keep their expenses low.