5G Monetization

The 5G monetization model is evolving into a far more complex billing model, more than what we have seen before in the Telecommunications industry. The products and services using 5G are offered with so much variety and in different extended domains, that each offering is unique in itself and it requires to be monetized in its own unique way.

Some of the examples of 5G based products and services are e-sim based data offerings, IoT based devices that are plugged into our cars, electric meters in houses that are connected to power companies with the use of SIM cards or even ATM machines connected to nearby branches of a bank, and more. The applications and possibilities are endless.

The 5G based solution providers are coming up with innovative ways of rating and charging the usage and their subscriptions. This places some unique demands on systems that are used for monetization, especially the telecom BSS systems. Let us understand what requirements the BSS systems need to cater to, in order to support and roll out 5G solutions effectively.

5G BSS Systems

BSS Systems or Business Support Systems are the software systems that cater to business side of the telecom system operations, covering a full range of functions starting from tracking prospects and leads in a CRM system,  to managing quotes and contracts, to handling customer on boarding, customer data management, order management, inventory management, rating and charging, invoicing, payment collection and more.

BSS systems need to be enterprise grade software systems, yet be able to offer a flexible billing platform. Monetizing 5G involves supporting a varying set of pricing models. These are clearly complex billing use cases, that go beyond simple subscription billing and offering pay as you go rates of the 4G era. The 5G service providers need flexibility to offer different packaging options to their customers. 

The speeds that 5G networks offer can lead to more data usage and more downloads and uploads for the given time period compared to 4G. This can lead to an increased traffic volume which is at least 4x to 5x the traffic volumes handled by the BSS systems with 4G. The 5G BSS platforms must be upwardly scalable.

How 5G BSS systems can bring about a difference to 5G Monetization?

5G Monetization

The BSS systems are well suited for monetizing 5G services, if they support real time billingenterprise billingcomplex billing and flexible billing. A BSS system is shown functioning in the diagram above. The diagram shows  following important features of a full fledged BSS system that can help with 5G monetization:

CRM (Customer Relationship Management)

A CRM system offered under a BSS captures customer data, allows tracking of a customer relationship from inception stage, through prospect status, to quotations, contracts and finally signing into a subscriber. This gives a lot of information and data about the customer and allows the 5G service provider to offer their future products and services accordingly.

Real Time Billing

The BSS systems offer OCS or Online Charging System which is crucial for 5G services using prepaid billing. The OCS system offers real time billing so that usage is updated online and subscribers are aware of their usage at all times. The OCS system can be configured to trigger automatic package add-ons and use automatic renewals of their plans. This gives flexibility to the subscriber to use their plans without the worry of exhaustion of their quota, and at the same time clear transparency of their usage.

Postpaid Billing Mediation

The BSS systems support mediation of Call Data Records (CDR) into chargeable events that can be applied onto postpaid invoices. This mediation process is a backbone of a postpaid billing system. The usage of customers who use postpaid services is received from network switches into CDR files. The billing mediation module handles such CDR events and coverts them into chargeable events.

Automated Invoicing and Payment Collection

BSS systems can provide automated invoicing and payment collection. This takes away much of the reconciliation efforts and accounting related efforts from the billing team.

Customer Self Service Portal and Mobile Apps

These applications offer subscribers with convenient access to their own accounts. They can check their usage quotas, their usage consumption of various services, their invoices and payments. It is possible to securely make recharges or payments for their top-ups or invoices as the case may be.

Data Insights

The BSS systems generate a lot of meaningful information and data. This data can be used for analytics and financial reports. This gives useful insights to management to fine tune their offerings, their market strategies and device newer plan offerings.

Less BSS issues, more time to innovate

A complete BSS system takes away much from the plate from a 5G services provider. Typically companies struggle with billing issues and networking issues and support calls if a BSS implementation has not worked out well for them. A carefully carried out BSS implementation with a well suited system, can however have a critical role in ensuring business success.

Less the BSS issues, more time the companies will have to innovate and provide newer solutions.

EarnBill – an enterprise level yet flexible BSS platform for 5G

EarnBill has many successful case studies where the system not only supported the business but went well over the stated goal to surpass the business objectives. Its formula for success has been an enterprise grade platform with flexibility of customization to meet client requirements. The quick time to market ensures 5G service providers get value for money by rolling out their business plans speedily to the market.

More Blogs

5G Billing Solutions

5G Billing Solutions: Transforming The New Age Telcos for 5G and Beyond

5G Billing Solutions need to be systems that adopt to the generational changes in technology. The 5G technology is changing the scale and speed…
Read More…

5G OCS - A Comprehensive Real Time Charging Model for the New Age 5G Services

5G OCS: Real-Time Billing for Next-Gen 5G Services

Discover how 5G OCS enhances real-time billing in the online charging system for 5G, revolutionizing service delivery.
Read More…

revenue leakage happens through billing software

7 Critical Reasons Why Revenue Leakage Happens Through Billing Software

Revenue leakage can occur when billing software makes incorrect or inaccurate calculations. The system may have bugs or design limitations.
Read More…