Top 10 Reasons to Replace Your Telecom Billing System

Top 10 reasons telcos want new billing software
Top 10 Reasons Telcos Change Billing Vendors
If you are like most of the telco companies we talk to, billing is a huge challenge.  It's also one of the most crucial aspects of any business.  If you can't send invoices out to customers, you won't get paid.  If you're not charging enough for your services, you lose money.

We have spoken with service providers of all sizes in an effort to learn more about common billing pain points and frustrations.  Based on their feedback, here are some of the top reasons telcos look for a new billing software vendor.

Top 10 Reasons to Replace Your Telecom Billing System

  1. Consolidate disparate systems
    • Eliminate the swivel chair problem.
    • Reduce duplicate data entry.
    • Improve operational efficiencies.
    • Decrease potential for input error.
  2. Remove limitations of your product catalog
    • Enable bundling of different products.
    • Set discounts for products.
    • Use promo codes.
    • Set individual price levels.
  3. Speed up the quote to order process
    • Quote items are pulled from live product catalog.
    • Electronic signatures available for quote approval.
    • Easily transition to new order for processing.
  4. Fix inaccurate or inflexible invoices
    • Calculate accurate charges for products or services.
    • Fix errors (proration, rounding, etc.)
    • Customize invoices for different accounts.
  5. Bill for usage
    • Fast rating of individual CDRs.
    • Import from multiple usage sources.
  6. Find lost revenue or leakage
    • Bill customers for all active services.
    • Enable full audits.
    • Automate reporting mechanisms and alerts.
  7. Tax properly
    • Calculate correct taxes.
    • Ensure proper tax rates and rules for all tax authorities.
    • Fix non-compliance issues.
  8. Improve the visibility of data
    • Create, generate or export reports.
    • Share important data with customers (i.e., call details).
    • Utilize real-time BI dashboards.
  9. Decrease cost to manage, maintain and support
    • Reallocate internal resources.
    • External costs are more affordable.
    • Workflow automation.
  10. Add new capabilities and features
    • Architecture to facilitate business growth.
    • Feature sets are evergreen.
    • APIs hooks into external systems.
Understanding that all service providers have unique requirements, a modern billing platform should provide maximum flexibility, scalability and reliability.

For further reading, please take a look at our related article on billing vendor selection tips.

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