Special market for qualified telecom billing and revenue management exists… and it is going to double over in 2 years!
New source of extracting additional profits for telecom operators was revealed. And the key to gaining extra value, surprisingly, lies in more sensible regulation of billing payments and arranging of revenue flows. Apparently, old but gold financial management tricks expanse to new industries to find their application. But the thing which is naturally shocking is that although historically these possibilities for reaching more favorable conditions were identified by business-analyst or financial department stuff – now all a company has to do is to choose from a range of software providers and then to deploy appropriate program specially preset to track opportunities and signalize when extra profit can be made.
The tools of increasing one’s revenue are pretty different: from extracting unbilled revenue to leveraging automation, from identify revenue leaks to safeguarding revenue streams from potential losses. Potential solutions also include reductions in time-to-market events striving for new service offerings and using real-time charging to upgrade experience from customers’ viewpoint. Furthermore, since category of cash flows from legacy services doesn’t hold its positions, new business models and platforms are emerging, such as Over-the-Top (OTT) service providers and content aggregators. Finally, revenue and billing assurance solutions lead to more sensible sharing of inflows and outflows among partners, thereby improving business relationships, reducing the total cost of ownership, and offering a fast time-to-market, which ultimately leads to an increase in revenue.
Remarkably, market share of software-based solutions segment turns out to be a way higher than the service segment! Obviously, telecom providers find it more coherent to concentrate their efforts on development of integrated billing and revenue management applications. According to recently published reports, the market is going to reach its peak! It’s booming and estimated to grow from current mark of $10,8 billion to unbelievable $18 by 2024 with 10,8% CAGR. Still, the focus is on the main interactors who are constructing related solutions created to analyze, evaluate, and optimize each phase of the life cycle, and provide complete insights and intelligence into the revenue relationships of customers and service providers.