Driving 5G monetization through next generation BSS systemPosted by Tisna Tom on April 8th, 2024 The BSS system in telecom handles key functionalities for a telecom operator like – creating products and bundles, managing leads, customer information, customer orders, provide customer support solutions, manage Inventory, and provide a dealer and partner management system, so BSS is a comprehensive solution which manage the complex Telecom operator business which is undergoing myriad of changes due to ever evolving telecom product and solutions. One such area is the advent of 5G technology and the impact it has on the telecom business, which will enable a telecom operator to drive future revenue from 5G use cases. Unravelling the Complexities of Case ManagementNavigating through the maze of handling cases in telecom shows there are a lot of problems to deal with. From the multifaceted nature of customer inquiries and issues to the high volume of interactions across various channels, service providers face the daunting task of not only capturing and responding to each request but doing so in a manner that aligns with the customer’s expectations for immediacy and precision. This complexity is compounded by the need for seamless integration of backend systems and frontline customer service operations, ensuring that every interaction contributes positively to the customer's journey. The Challenges of 5G MonetizationComplex service offerings5G goes beyond traditional data and voice plans, encompassing diverse services like network slicing, IoT solutions, Enhanced mobile broadband (eMBB), mMTC (Massive Machine-Type Communications) , Ultra- Reliable Low Latency communication (uRLLC), cloud gaming, Augmented Reality (AR) and Virtual Reality (VR). A 5G evolved BSS is essential to manage these complex use cases. Dynamic pricing and flexible billing models5G demands real-time data usage monitoring and flexible billing models to cater to pay-per-use or dynamic pricing based on network slices or service tiers. As 5G networks become more complex and diverse, operators will require a sophisticated pricing models to optimize resource allocation and maximize revenue. By implementing transparent and fair dynamic pricing models, operators can unlock the full potential of 5G and create a win-win situation for both them and their customers. Enhanced customer experiencesWith proliferation of new services and offers associated to the same, a well-integrated BSS (CRM, Billing, Self-care, Mobile-app) along with social mediation integration is important to achieved targeted offers, rewards on loyalty and personalized offers to provide an enhanced customer experience. Ecosystem Collaboration and Marketplace IntegrationTo unlock the full potential of 5G monetization, operators must collaborate across ecosystems and integrate with digital marketplaces. Strategic partnerships with content providers, device manufacturers, and industry stakeholders facilitate the creation of compelling bundled offerings and innovative service packages. This marketplace integration fosters synergy, driving adoption and revenue growth in the 5G landscape. A modernized BSS System helps operators to monetize 5G effectively in following waysAgile Product and service creation and Management
Create Partner Ecosystem and revenue share models
Real-time Charging, Rating and Billing
Data-Driven Customer Insights
Open APIs and Integration
Seamless Omnichannel Monetization:
Factors which an operators should consider while upgrading their BSS solutionUpgrading and modernizing BSS systems is crucial for telecom companies to remain competitive in their respective market and to unlock the full potential of 5G, so look for BSS solutions that offer below technology advancement based on your current technology stack: Microservices architectureThe BSS applications built on microservices based architecture consist of loosely coupled small services which operates together and improves applications flexibility, scalability and enable faster launch of services. These small services are event driven and enable real-time communication between services. These services can be added, removed, or modified without interrupting the application functionality. Cloud-native architectureCloud native architecture reduces the operating expenditure and drives automation but requires technology and organizational changes to handle higher data volumes and dynamic service offerings. AI and machine learning capabilitiesThe BSS system should empower real-time data analysis, personalized customer experiences, and predictive maintenance to drive higher customer satisfactions. SecurityWhile 5G utilizes stronger encryption algorithms, authentication, and authorization to make hacking and unauthorized access difficult, 5G has also introduced Subscriber Concealed Identity (SUCI), where your device doesn't transmit its real identity but a temporary, encrypted version, further protecting user privacy. A telecom operator transformation journey to a Digital BSS system depends on many factors like operation needs, budgets, timelines and by embracing a futuristic BSS system. The telecom companies can transform 5G from a technological marvel to a sustainable revenue engine, which will unlock a world of possibilities and create use cases to foster the growth of an operator and enhance customer satisfaction.
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