WHY YOU SHOULD EMPLOY AN OCS THAT COVERS REQUIREMENTS OF PAST AND FUTURE?

Nowadays, telecom industry is in a state of flux. Every telco is looking to venture into new territories to compensate for the money lost to competition and OTT (Over the top) services. In the past, telecom operators used to thrive on revenue generated via voice calls and SMS. However, in the present times, the range of services that they need to deliver has widened considerably. The legacy systems employed by telcos no longer do justice to the modern innovative telecom services that need to be delivered. Moreover, telcos require most services to be delivered in real time, which is why; a flexible and real time charging system is needed for timely tracking and accurate billing.
Online Charging System: The Backbone of a Successful Telecom Billing System
 An online charging system is a must-have for any modern telecom billing system. An OCS is essential for telecom operators as it lets them:
1. Charge on the basis of events e.g. SMS
2. Charge on the basis of sessions e.g. calls
OCS is a real time charging system that allows the telecom operators to control credit. At the same time, it also allows users to control what they spend. Although an OCS is a vital part of any present-day billing operation, it can only be of true value if it works with the applications of past and is designed with an eye on the future requirements.
Importance of a Future Proof and Backward Compatible OCS
There are many attributes of an OCS that make it stand out. However, the most important aspect of an OCS is how well it works with your legacy solutions. The compatibility of an OCS with your pre-existing equipment and applications allow you to introduce it into your workflow without hampering your current billing tasks. Also, an OCS should be flexible enough to accommodate the requirements of near future like 5G offerings, so you do not have to change your billing systems frequently to meet constantly changing technology.
 There are many other features that make an online charging system worthy of your business. Have a look at some of these key features of an OCS:
1. Analytics – Most traditional OCS solutions available in the market do not support analytics, which is why; telecom companies often struggle to understand customers’ requirements. Hence, they are unable to devise new plans to attract customers towards their services. However, there are many cutting-edge real time charging systems available in the market that come with analytic features. Using such OCS solutions not only helps you in your present tasks, it also helps you forge better business strategies for the future.
2. Adaptability with complex revenue management – There are so many revenue streams (for a telecom business) nowadays that keeping track of each one of them can be difficult for a telecom operator. Prepaid, postpaid, IPTV, different type of data services and OTT partnerships, there is simply too much to handle for telcos. In this complex situation, a revolutionary online charging system can simplify their work and ensure accurate completion of real time charging and billing tasks

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