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Showing posts from January, 2021

Mobile Wallets Are the Piggy Banks of the Future

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When was the last time you used paper money for anything? That thought crossed my mind as I was giving my daughter her weekly pocket money, in notes and coins of course. As someone who’s worked for the last decade on mobile financial systems, the irony didn’t escape me. Why is it that I give my kids pocket money to instill the habits of budgeting and saving — that is, getting ready for the real world — but still provide them with physical money they store in the piggy bank their grandparents bought them? Wouldn’t it make more sense to teach my children how to manage digital money, which I firmly believe is the future of all money? I’d ra t her not open them a bank account or introduce them to the mobile wallets I use — I am not  that  modern a father. I want them to learn and have fun doing it, but I’d still like to view and control their activity. And I would like their relatives to be able to play a part, just as easily as they would have dropped a coin in their piggy bank. ...

How digital BSS can be turned into a telecom business profit generator

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  We all know that functionalities such as billing, rating and charging, customer experience, customer care, CRM, fulfillment, and revenue management are handled by  Digital Business Support Systems (BSS) . A digital BSS stack goes beyond these functions to facilitate enabling, monetizing and managing a new class of digital services and partner collaboration. It helps transform a communications service provider (CSP) into a digital service provider (DSP) and is essential for the transition to 5G. Here, we analyze how a robust growth-enabling  digital BSS Transformation solution  can become a profit generator. Predicting customer churn Telecom com p anies can leverage advanced analytics to seek value from data residing in the BSS, OSS, and  CRM , among others. By leveraging data gathered from customer usage, transactions, complaints, billing, and social media, predictive models can be built to identify potential churners. This, in turn, helps telecom companies ro...

Delivering Service Innovation with Convergent Billing and Charging

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  Telecom operators, in the past, relied solely on fixed-line services for generating revenue. The industry has since taken great strides. Operators have developed various innovative services that empower customers to look beyond voice and SMS and explore streaming video, maps, music, and many more data applications. The opportunities created for customers have enabled operators to plunge into new services. Today, quality customer experience plays a major role in generating revenue. In this customer-centric era, operators are driven to promote timely personalized offers and deals at attractive price ranges. With the rise of service offerings, operators face tremendous pressure on their billing platform. The need to enhance the capabilities of the  BSS stack  has become as significant as improving network capacity from time to time. Why should telecom operators upgrade their billing systems? Telecom operators have put billing systems on the front burner for driving the ini...