8 Key Challenges and Steps to Monetizing Your Communication Services
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Learn what are the 8 major challenges and 8 essential steps to monetize communications services (Telecom, UCaaS, CCaaS, IoT, Internet Services, etc.). You will also learn how these steps can benefit your business. Some of the major challenges includes revenue leakage, compliance risks, pricing challenges, customer churn, total cost of ownership, operational inefficiencies, etc.
8 Key Challenges and Steps to Monetizing Your Communication Services
- 1. Fully Configurable and Integrated BSS/OSS Solution Delivered on the Cloud Financial reporting, forecasting, and audit-related billing issues Customer churn due to inaccurate charging and billing errors Unable to expand into new channels/geographies to maximize revenue opportunities Manual and swivel chair operations across disparate and disconnected revenue systems Unnoticed and uncollected revenue leakage due to inef鍖cient billing Sales quoting and billing are out of sync, and time-to-market challenges Complexities in entitlement-based consumption and tracking of overages Barriers between billing and customer service negatively impacting customer experience 2 3 4 7 8 8 Major Challenges in Monetizing Communications Services: 5 6 1 www.onebillsoftware.com
- 2. 8 Essential Steps to Monetize Communications Services: Capturing omnichannel orders Opportunity tracking and pipeline management Offering personalized pricing and discounts Managing on-demand quoting and approval Creating and managing contract terms Con鍖guring 鍖exible catalogs of products and bundles Launching promotions, discounts, and trials with speed Associating entitlements to product offerings. Managing product life cycles Analyzing cost and margin to maximize pro鍖tability Con鍖guring proration complexities Managing subscription life-cycle: upgrades, downgrades, suspensions, and resuming services Handling subscription cancellations and renewals Implementing price changes, locking, and escalations Co-terminating subscriptions based on contract Provisioning and activating orders in real-time Automating work鍖ows to orchestrate orders Managing inventory, truck rolls, shipping, etc. Interacting with downstream systems & handle failures Seamless service termination Offering term-based entitlements (daily, weekly, monthly, yearly, evergreen, etc.) Providing currency and non-currency-based entitlements Con鍖guring roll-over or use-it-or-lose-it entitlements Handling real-time consumption overage (beyond entitlements) Setting up overage triggers for prepaid business models 1 2 3 4 5 Order Management Dynamic Offer Management Real-time Order Fulfillment Subscription Life-cycle Management Entitlement based Charging
- 3. 8 Key Benefits of Using OneBill Supporting multiple payment methods: credit cards, ACH, checks, vouchers, etc. Offering on-demand and auto-pay options Handling of adjustments, credit/debit Notes, and write-offs Sending dunning reminders and late fee application Terminating Services and de-provisioning of services Applying real-time and bill-time taxes Managing sales and communication service taxation Handle recurring, non-recurring, metered, and ad-hoc charges Charging in advance and arrears Enabling 鍖exible billing cycles: on-demand, weekly, monthly, quarterly, annually, etc. Upholding PCI compliance Supporting ASC 606/IFRS-15 compliant revenue reporting Creating general ledger and journal entries Handling of Performance Obligations (POB), Standalone Selling Prices (SSP), Contract Modi鍖cations, Price Allocation, etc. Providing dashboards and Business Intelligence Increased bottom-line growth by preventing revenue leakage, reducing costs, and increasing cash 鍖ow Improved customer loyalty and retention through accurate billing and seamless customer interaction Reduced time-to-revenue and increased ef鍖ciency by automating end-to-end revenue operations Effortless selling of a mix of digital & physical products with a combination of subscriptions and usage-based pricing models Agility in quickly launching new products, promotions, and bundles Accelerated sales growth by opening up new markets, currencies, channels, etc. Informed decision-making with improved forecasting, 鍖nancial reporting, and revenue recognition Reduced compliance risks 1 2 3 4 5 6 7 8 6 7 8 Taxation & Invoicing Receivable Management Revenue Reporting & Compliance
- 4. +1 (844) 462 7638 sales@onebillsoftware.com www.onebillsoftware.com OneBill Software, Inc. Santa Clara, CA 95054 Talk to OneBill's billing and revenue management experts Awards and Recognitions Why Choose OneBill? Telecommunications focused Fully configurable and white label portal Full turn-key solution Unified retail and wholesale billing Built-in usage rating and mediation Hyper-scalable order orchestration Service provisioning and activation Telecom taxation Multi-tier channel partner management Open API integration End-user self-care portals Multi-currency & multi-language support ASC 606/IFRS 15 compliant revenue recognition PCI/ISO 27001 certified platform HIPPA compliance GDPR compliance for data privacy Security focused SOC1/SOC2 compliance Who We Are? Founded in 2009 in Silicon Valley 30+ years in telecom billing 200+ satisfied telecom customers worldwide Received numerous awards and recognitions Global customer base (in 5 continents) No-code implementation Superior 24x7 customer support