How 5G, IoT, and Digital Services Are Changing the Billing Landscape
The rise of 5G, IoT, and digital services is transforming the telecommunications and service provider industry. With billions of connected devices generating vast amounts of data, the demand for flexible and scalable billing systems has never been greater.
According to The Business Research Company, the global IoT platform market is projected to reach $1,057.55 billion by 2027, highlighting the explosive growth of connected ecosystems.
Traditional billing systems, originally designed for voice, messaging, and basic data services, are increasingly challenged by the need to support complex pricing models, real-time transactions, and diverse service offerings.
Unlocking 5G, IoT, and Digital Services Monetization Opportunities
Modern convergent charging platforms enable telcos and digital service providers to capitalize on the monetization potential of the 5G/IoT era and emerging digital services.
1. Convergent Charging
Convergent charging integrates online and offline billing processes, providing a unified view of customer usage and facilitating accurate, real-time billing. This convergence enables:
- Seamless service monetization across multiple channels and service types
- Faster rollout of new services and offers
- Adaptation to complex pricing structures and diverse customer segments
Supported by standards like the 3GPP Charging Function (CHF), convergent charging ensures precise collection of network and service usage data, enabling efficient billing and accurate revenue management.
2. Real-Time Billing
Real-time billing provides immediate visibility into usage and charges, enhancing transparency and reducing disputes. It supports:
- Support for data-intensive and immersive services such as HD streaming, cloud gaming, and AR/VR
- Agile revenue management and fraud detection
- On-demand pricing adjustments to align with network usage and market conditions
By enabling immediate billing and reporting, service providers can maximize revenue and improve customer trust.
3. Dynamic Pricing Models
Dynamic pricing models allow operators to tailor plans based on usage patterns, service type, location, and individual preferences. Benefits include:
- Tailored tariffs and multi-level service plans
- Pricing adjustments based on congestion, time, or individual behavior
- Opportunities for add-on services, premium features, and loyalty programs
By implementing dynamic pricing, telecom providers can optimize revenue and remain competitive in a landscape dominated by 5G, IoT, and digital services.
5G-ready: Dynamic Online and Offline Convergent Charging Engine
Neural Technologies’ Online & Offline Convergent Charging Engine empowers modern telcos and digital service providers with a unified, cloud-ready solution that seamlessly integrates dynamic pricing and convergent billing.
Designed to handle the complexities of 5G, IoT, and emerging digital services, it provides flexible solutions for unlimited tariff plans, time-based models, usage buckets, rewards and discounting scenarios, geo-zoning, multi-currency, and other essential tariff structures.
Benefits include:
- Unified Billing: Integrates online and offline charging for seamless customer experience.
- Flexible Monetization: Supports dynamic pricing, rewards, discounts, and multi-level tariffs.
- Agile Service Deployment: Quickly launch new offers and services across multiple channels.
- Revenue Assurance: Built-in reconciliation and data validation prevent revenue leakage.
- Scalable & Cloud-Ready: Containerized and cloud-native for high availability and scalability.
- Global-Ready: Supports geo-zoning and multi-currency billing for international operations.
Key Features include:
- Dynamic Pricing & Tariff Management: Flexible pricing structures tailored to usage patterns, service types, and customer segments.
- Real-Time Billing & Rating: Accurate, immediate charging for 5G, IoT, and digital services.
- Integration & APIs: Open API support for seamless connection with CRM, BSS, and third-party systems.
- Balance & Account Management: Manage multiple accounts, rewards, allowances, and credits.
- 5G/IoT/Smart Metering Ready: Optimized for emerging services, including high-data IoT and smart devices.
- Analytics & Dashboard: Comprehensive monitoring, reporting, and configurable dashboards for informed decisions.
- Balance Management: Support multiple accounts, rewards, allowances.
Unlock the full potential of your billing and monetization strategies. Discover how Neural Technologies’ Dynamic Online & Offline Convergent Charging Engine can transform your telco or digital service operations.
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