Why Switch to a Versatile Telecom Charging System?

Not so long ago, voice calls and SMS were the staples of the telecom industry. Subscribers were happy as long as they could make high-fidelity voice calls and telecom operators were content with the profits they were making. However, nothing in this world stays stagnant, especially not when technology in the industry is moving at a rapid rate. With the launch of newer technologies and features, the competition between telcos sky-rocketed. As more and more operators got into the mix, the profits started receding. Right now, the race is to launch newer services and better plans. And, to win this race, telecom operators need a telecom charging system that can help them bring their offerings quickly to the market.

Increasing Complexity in Modern-Day Telecom Charging

 Telecom charging systems of yesteryears did exactly what they were devised to do. They kept track of calls and SMS along with charging, rating and billing for the services. But, with the launch of newer services like VoIP, IPTV, multi-speed data services e.g. 2G, 3G, 4G, 5G etc., the playing field for telecom operators has changed considerably. Now, the same process of charging, rating and billing has become a lot more complex than it was ever before. Handling large amount of data that comes with modern billing is something that is unachievable for legacy billing systems.

Important Characteristics of Telecom Charging System

In case, you are still using a legacy charging system, it is time to move onto a cutting-edge system that helps you bring your new plans into the market, quicker than ever before. And, any good telecom operator knows that launching the right product at the right time is the recipe for success. Some major attributes that you should look for before procuring your next telecom charging system are listed below:

1. Backward compatibility – It is hard to make a switch to a new billing system instantly. Hence, you need a telecom charging system that is backward compatible with all your applications, so you can make a move to the new system at your own pace. This prevents you from suffering financial losseswhile you make the transition to your new telecom charging system.

 2. Event/Session-based charging – For an online charging system to be successful in the modern billing tasks, it should be flexible enough to performboth event-based and session-based charging. Event-based charging is required for services like SMS and session-based charging is needed for services like voice calls.

3. Provision for OTT partnerships – One of the biggest reasons why telcos are experiencing diminishing returns is OTT platforms. OTT services like Skype and Whatsapp offer free calls and messaging to users, which eats into the profits earned by telecom operators. However, when you have a telecom charging system that allows you to charge OTT services, you can expand your business by increasing the number of your partnerships.

4. Cloud-based charging system – A cloud-based charging system provides great scalability and flexibility to any telecom business model. It allows for the use of redundancy that prevents the loss of crucial charging information, in case of a disaster. A cloud-based charging system also helps in making a complete switch to the digital platform.