Deployments of 5G networks are accelerating globally and bringing new opportunities for Telecom Operators to monetize their network and spectrum investments. 5G, eSIM, B2C, B2B and IoT use cases have introduced new business models and opportunities. Customers expectations are also shifting, and many demand flexible data offers, streaming content bundles and new ways to subscribe and purchase. Telecom Operators continue to face heavy competition within their market, and from global OTT players.
Converting network capacity into incremental revenue is not easy - it requires a new mindset and new IT capabilities. At the center of this change is the charging system. Most legacy telecom charging systems can not keep pace with the demands of 5G and are unsuited to the digital age. Older systems are complex, expensive, lack advanced features and are not agile.
5 Reasons Why Legacy Charging Systems are Holding Telecom Operators Back
- Deployed on dedicated, on-prem hardware
- Time-consuming integration
- Long time to market with fixed amount of products and services
- High cost to deploy and maintain
- Inability to support micro-transactions, subscriptions, B2B2X models, etc.
Converged Charging System
What if the legacy charging system could be re-built for 5G and today’s digital business models? It would be simple to operate, agile, with a lower cost and fast time-to-market. Converged Charging System (CCS) from LotusFlare brings the following benefits to Telecom Operators:
- New revenues – Customers can build their own plans, launch contextual offers and promotions to up-sell relevant products that are proven to drive up customer ARPU.
- 5G support - Having an advanced CCS that is designed to support tracking and billing of millions of transactions, while matching up to the requirements of 5G, is what Telecom Operators need to stay competitive.
- Easy to deploy and manage - CCS can be deployed in a few months in a public cloud environment. Specific configuration and integration parameters are accessible via the configuration management system.
- Large CAPEX and OPEX savings - CCS is designed to run on commodity hardware in public or private cloud. Compared with traditional charging solutions it is a fraction of the total cost with much greater functionality. It has been designed using state-of-the-art OTT technology and operated using DevOps methodologies which significantly reduce CAPEX and OPEX expenditure vs. legacy charging systems. Telecom Operators no longer have to worry about subscribers using more resources than they were actually allocated.
- Speed to market - Once deployed, commercial teams can launch targeted offers and advanced propositions for B2C, B2B, eSIM and IoT in minutes. No need for time consuming and costly IT configuration changes required with many legacy systems. With the right CCS, Telecom Operators become more versatile while bringing new services to the market. They are able to create user-specific plans and offer a personalized experience to subscribers. In this day and age, customer loyalty is at an all-time low and offering personalized services is a great way to improve that.
- Multi-brand / multi-network - CCS allows Telecom Operators to launch multiple brands on the same CCS instance. It also allows them to integrate a single CCS on top of multiple networks - a use case for large MVNOs that roam on several MNO networks.
- True convergent charging - Delivering OTT services alongside with data, messaging and voice.
How can CCS enhance the customer experience?
- Top-notch digital customer interaction - Customers will find the same realtime and personalized buy, manage and inquiry flows they have come to expect from Internet company products. Increased self-care and simplified processes increase customer satisfaction.
- More than just ‘rate plans’ - Customers can purchase connectivity plus exciting 3rd party content and personalized offers.
- Customize plans and usage control - Customization of plans, spending control and even sell-back unused balances. The improved experiences will attract new customers and maximize the satisfaction and retention of existing ones.
In this age of digitalization, keeping your customers happy is the key to success. Telecom Operators are continuously working towards this goal, while trying to keep pace with major OTT players and local competitors. With a powerful Converged Charging System, Telecom Operators can be digital and cloud-native from the ground up, enjoy dramatically lower costs and meet the growing needs of their customers.
LotusFlare’s Converged Charging System represents the next generation of charging systems, supporting 2G, 3G, 4G, 5G online and offline charging functions. It gives Telecom Operators a real-time engine for rating, balance management and charging for all services, payment methods and business segments.
Ready to adapt to the evolving digital landscape?