BSS forms an essential part of enterprise – keeping customers and companies connected. But with the potential for 5G to bring in new revenue streams, companies need a solution flexible enough to meet their changing requirements. In this article, we’ll look at how the right BSS solution can provide it.
But first, let’s cover the basics.
‘Business support systems (BSS)’ is the catch-all term in telecommunications for management of the customer-facing experience. BSS is an efficient way for communications service providers (CSPs) to manage the customer experience through each stage of business growth.
BSS telecom systems cover several main functions, which together provide a frictionless process for customers.
Providers use BSS to manage a suite of solutions. BSS can handle the dynamic pricing and bundling of products to customers, as well as discounting where appropriate.
Channeling the various streams of information held about customers into single profiles, so contracts, quotes and complaints handling can be managed more effectively.
Organization of billing and charging for services and products, including bill presentment and collection, as well as dynamic pricing and rating.
BSS can also help companies handle their sales management needs, automating lead gathering and opportunity scoring.
Now let’s look at what we can achieve just by making sure those functions stay in good working order.
The 5G opportunity has unleashed torrents of data from IoT devices, new network connections and more. CSPs could benefit from capturing and deciphering that data for two reasons. Firstly, to obtain crystal-clear operational insight of the users their BSS is there to support. Second, accurate data capture could drive more meaningful interactions with customers.
With 5G, you can unlock a multitude of possibilities – the rush of data flooding in from customers, the speed and capacity to deliver a higher level of service. BSS uses 5G to power further solutions for CSPs, delivering customizable solutions rather than selecting an off-the-shelf product.
What does this mean for CSPs?
All of which make your business smarter, sleeker and more agile in the marketplace.
BSS/OSS must evolve to allow CSPs to develop new use cases for 5G and reap the rewards. Without advanced BSS to handle unprecedented volumes or innovative incoming requests, customer-facing solutions could lose efficiency or fail entirely. At the very least, they would fall short of the full potential 5G brings.
BSS transformation is an essential first step for CSPs towards an experience that can support customer-focused growth and innovation with the rollout of enterprise 5G. CSPs need the right BSS to provide a solid foundation, one with the agility and ability to scale to meet customers’ needs.
Furthermore, a resilient BSS capability can take advantage of 5G speeds by optimizing data capture and decision making. As CSPs widen their customer offering, they’ll require a real-time view of customer needs in the moment, and the ability to analyze relevant data on the spot. As machine learning takes a centralized role in enterprises, 5G will allow it to make informed decisions in milliseconds, improving reactivity and automation.
Strengthening their BSS using 5G networks allows CSPs to improve their service offering to customers, leveraging efficiencies to create flexible, adjustable service plans based on need.
With an improved view of customer needs, service providers can implement real-time dynamic pricing models. The extra bandwidth allows CSPs to commit resource to recurring price estimation, managing demand and extracting optimum value from their services while increasing customer satisfaction based on their own budgetary requirements.
With more bandwidth to spare thanks to 5G, CSPs can focus resources on optimizing processes such as customer assistance. Gathering and executing on the more accurate data on customer service usage should mean more satisfied customers. This can not only reduce time taken resolving customer complaints and issues, but it can also increase satisfaction and retention rates. Time saved on customer relations can be reinvested elsewhere.
BSS plays a critical role in the complex 5G environment when it comes to earned revenue. BSS is used to monitor transactions and ensure that CSPs can accurately bill customers for services rendered in real-time. Without a robust monitoring system there would be the risk of revenue leakage. Strengthening the BSS to prevent disruption to revenue gathering is essential.
Superfast partner onboarding and complex partnership models, enabled by 5G, are needed to satisfy surging customer demand for new and unique solutions. What’s also required is an efficient and accurate method of automated revenue collection.
A good customer experience is essential, but it’s a complex challenge that CSPs must solve to increase market share. Powerful, AI-driven analytics tools can significantly enhance key decision-making functionalities, while automated processes and simplified collaboration drive accessibility for customers who want a smoother experience.
Smarter gathering and analysis of customer data by BSS allows CSPs to take more informed decisions about the 5G monetization process, and the possible paths forward. Data collected on customer habits and preferences, the popularity of product combinations and even where downtime tends to occur can all provide intelligence that helps formulate new monetization strategies.
Dynamic resource allocation is beyond the means of most legacy BSS systems. Whether dealing with a seasonal spike for demand or anticipating a surge of interest during a product launch, customers need reassurance that their needs will be met. A strong BSS solution enhances the efficiency of resource allocation so a more robust 5G network can allocate resources based on service demands – and charge for them accurately.
Business support systems are ripe for transformation as CSPs get to grips with the 5G opportunity. In addition to order management, digital BSS can in fact drive optimizations and profits in its own right.
CSPs must be ready to make the leap to digital BSS so they can stake their claim on this transformational opportunity.
For more insight into BSS you can read more, or book a demo to speak with us about your BSS Telecom needs:
