Real Time Billing for greater experience and retention

       In the backdrop of revival of global economy, the world is rapidly adapting digital technologies as the engine of growth and limitless opportunities. The digital economy has completely redefined the way consumers communicate on networks. Consumers today are getting used to real time information and access to operators’ services, need multiple digital channels like self care apps, web portals to connect with CSPs. Gone are the days when Communication Service Provider (CSP) has traditionally generated revenues from dumb pipes and passive infrastructure by providing voice services. Now, CSPs have to handle an exponential rise in data consumption over a wide variety of smart devices added daily, in addition to smart and demanding users. The challenges has two way impact; increase support to the wider consumer base at the same time increase investments in to newer technology that can keep the customers satisfied with innovative services and better user experience.  The burgeoning subscriber base needs an end to end real time service control for all the services – for greater transparency and to reduce pressure on the support system. If CSPs fail to do so, there would be several instances of Bill Shock, dissatisfaction from support and erratic user experience leading to subscriber churn and ultimately affecting the operator’s revenues. To share real time information, CSPs require an agile, responsive and a real-time enabling BSS system in place which offers customer-centric features via digital channels. The user experience can be enhanced when CSPs offer features like: real-time usage display (for post paid also), instant-on provisioning of digital services, real time usage based on application, real-time tariff changes, personalized recommendations, real-time notifications, location based offers, hassle free self service options  etc. Today’s digital society customers require accurate service usage information in real-time and want it to be displayed on their digital channels anytime and anywhere, irrespective of prepaid or postpaid services. If the user feels they are in complete control of their services they will consume even more data provided by the CSP. This helps the CSPs to greatly enhance user experience and also prevents bill shock scenarios. Operators today need a cutting edge BSS systems in place, that aids them to proactively make business decisions in real-time. It also ensures, that subscribers are aware about the services they can consume for the amount paid, without balance overruns. This is where vendors like Elitecore – offer Convergent Billing Solutions consisting of convergent rating, charging, online mediation and balance management to enable real time billing system for customers. Its integrated platform permits complex, value-added data, voice and video services to be launched rapidly accommodating a range of discounts, pricing plans and promotional offers. It also prevents any revenue leakage and tracks down on any fraudulent behavior of the consumer. To know more Click Here