According to the research report by Transparency Market Research, the global market of BSS/OSS is estimated to touch $48.5 billion with a CAGR of 16.2 % by the year 2018. This fact is enough to reflect the growing importance of billing software in telecom industry. It is an inevitable part of the industry as it provides advantages to both companies and their customers.
Here are some important factors that highlight the importance of telecom billing software in the telecom sector.
During the initial stages of mobile phone technology, the number of telecom operators was very limited. But with the boom in this sector and increase in the number of mobile users, the telecom operators also grew exponentially. This resulted in a stiff competition in which only the companies with latest technology were able to survive.
The modification in technology also resulted in complexity in the services offered by the telecom sector. Therefore, the telecom companies needed an accurate system to calculate the phone, text and data related usage by the customers.
Telecom industry in the present era is focusing on 5G technology which is going to change the scenario of communication system.
Other than innovation of new technologies, having a robust billing is also must for a company to survive in the market.
Telecom billing solutions have modified the process of bill generation to a great extent. This has benefited both the customers and telecom companies, thereby creating a win-win situation.
Here are five major benefits which are linked to telecom billing solutions which are popular in market:
Saves the Company by Giving Accuracy in Billing
A telecom company deals with huge customer base which can reach up to millions. In this scenario, creating a highly efficient and accurate system for billing becomes crucial.