Every company, but particularly the telecoms sector, where everyone is working to increase consumer engagement, places a high priority on providing excellent customer service. Several organisations have entered the fray to make sure that client demands are met. MNO, MVNO, MVNE, and MVNA are these.
The capacity to tailor how they charge for services to meet changing consumer trends is the strongest asset that every virtual mobile operator has in common.
In today's telecom markets, accurate real time charging system solutions of consumption is crucial, and prepaid service models in particular. The core of the telecom architecture, known as the online charging system (OCS), enables a service provider to bill a customer for services in real time.
The OCS manages the subscriber's account balance, rating, and correlation for charging transactions. The OCS can be used by the service provider or network operator to enforce credit limits and authorise resources on a transaction-by-transaction basis.
There are typically offline and online charging methods. Off-line billing is when a fee is paid for a service after a service session or service event has taken place. On the other hand, online charging refers to charging that takes place during or immediately following a service event. Notably, the term "online charging" can apply to both prepaid and postpaid services. In the second scenario, online pricing enables customers to establish fee caps whenever they wish (for instance, roaming abroad).
One of the most important parts of telecom design is an online charging mechanism. It requires integrating the administration of account balances with the invoicing and rating functions of communications services.
A reliable Real Time Charging System can bill and rate each telecom service in real time, according to a layperson. By supporting both prepaid and postpaid services, it improves upon previous versions of Offline Charging Systems (OFCS) and Intelligent Networks (IN).
Customer Loyalty is Increased by an Online Charging System, as Is Revenue
A business's main goal is to make money. Without motivation, businesses will fall apart and collapse before they ever get off the ground. Therefore, the billing system that companies provide is essential.
An online billing system is one of the most effective, adaptable, useful, and customer-friendly choices available to organisations. Real-time practicality is one of the many important advantages of an online charging system. But whether OCS is necessary for commercial success remains an important topic.
Meanwhile, Intelligent Network Prepaid Solutions are frequently used by telecom networks. This approach doesn't have any inherent flaws and offers several advantages on its own.
However, because Convergent Charging solutions provide a real-time experience that most conventional charging methods don't, it is practically required. Now is the time to change the tide and determine if OCS can be embraced.
Real-time Charging is it?
Real-time billing offers telecom companies advantages, but it also offers customers advantages. The bottom line is that telecom companies will be able to bill customers for services as they are being delivered, rather than after they have been delivered.
Simply expressed, it is naive to think that every consumer would pay on time and in a reliable manner when necessary. The model can result in income loss over a prolonged period in addition to increased stress. This demonstrates how integrating with OCS causes the potential annoyance to disappear.
On the other hand, a real-time experience may greatly simplify the lives of customers. The benefits of using this method to access accounts, charges, etc. can result in fewer pitfalls and more overall satisfaction.
Technically, a move to OCS can also provide you with the luxury of supporting additional tax plans and service packages. Beyond further control, it can raise consumers' general satisfaction levels.
Can Companies Survive Without real time charging system solutions?
The word of the moment is "thrive," since OCS's benefits are too great to be overlooked. Without incorporating online charging, businesses and their consumers would be doing themselves a disservice. It's not that they wouldn't be successful with a traditional charging method.
Consider introducing convergent charging as a further step. It may be said that this provides both online and offline charging, which is the "best of both worlds."
OCS Features and Billing System Integration
It is necessary to understand Call Data Record (CDR) to comprehend how OCS functions. Every telecom event, regardless of whether it is event- or session-based, is documented in a CDR.
The Convergent Charging solutions then add the required taxation, discounts, deductions, etc. following the OCS charges and rates CDR.
The invoice is created and emailed to the subscribers at the end. With OCS, the entire procedure—which was difficult in the past—has been greatly streamlined.
