An operator provides different services e.g. mobile voice, broadband, fixed voice, data, Pay TV, pre-paid and post-paid, etc. and this gave rise tothe need to have a subscription billing services.
Now a convergent billing is the combination of all service charges onto a single customer invoice and an integrated view of the customer. Converged billing is such a solution in the telecommunications industry that helps in the common administration of all services and all users for the operator.
In the case of a convergent billing, the customer just needs to call customer care service executive and he/she will get complete account information for all the services opted in a single bill for payment. A convergent billing includes the convergence of subscription billing like prepaid and postpaid and different services like fixed telephony, mobile telephony, etc. A converged subscription billing alerts the user when the account balance reaches the threshold set by the operator or the services can be temporarily suspended when the credit has been depleted. It also controls services and manages balances in real-time, for example, authenticating the subscriber and verifying the account balance before service delivery to the end user. This capability of convergent billing is very effective which can be used to deliver promotions and reacting faster to market changes.
Advantages of convergent billing:
- Convergent billing delivers a single view of the subscriber and enables one customer bill for multiple services like Broadband, Cable TV, voice etc.
- An integrated bill provides cross-service discounts so that customers ordering various services can receive special pricing.
- Convergent billing reduces the cost of implementation and gives better time to market.
- Convergent billing supports numerous business models.
- Convergent billing system can integrate easily with other IT systems.
- Convergent billing provides multi-service packaging and pricing, where new customers are concerned about innovative services and existing customers are tempted to add new services.
- A convergent billing system allows operators to charge and invoice specifically multiple services together with new combinations formed quickly to replicate market changes.
- When subscribers are given more control over their own experience, they are happier and customer care costs go down. With self-care, subscribers can view and update their balances and manage their own spending limits, it reduces the workload and cost related to the customer care center.
- New charging models can be easily introduced in convergent billing system.
- Convergent billing helps in reducing maintenance cost and hence convergent billing is a convenient adaption to new business models within a single platform
- A convergent billing helps the operator to easily support new price plans and products by enabling a single product record.
- Convergent billing provides tools for scheduling and configuring process and shows a high performance.
Therefore this billing system makes it easier and convenient for the end customer to keep track of their services, charges for the services and payment for the services. This enhances customer experience and keeps the customers happy.
As an operator it gives you an insight into the preferences of your customers and hence allows you to provide specific discounts, targeted promotions etc. Such an insight in invaluable for and any operator and an operator can keep the end customer happy and engaged.In today’s competitive market this is a big advance to have. This can give operators the slight edge over the others to survive and flourish in the market.
SURE!, a Magnaquest product, is a convergent billing solution that offers a wide range of services including configuration of different types of charges, multiple computation models, single bill across multiple services, payments, usage based billing and associated follow-ups.
To know more about SURE! visit our website magnaquestwpengine.com.