The Importance of Persistent Revenue Generation in Telecom
In the rapidly evolving telecommunications sector, communication service providers (CSPs) constantly battle to implement new channels and make use of new technology while reducing costs and enhancing customer experience. In this industry, the urge to increase revenue is nothing new.
Over the years, CSPs have had to contend with the complexity brought on by rapid advancements in technology, escalating competition, regulatory intervention, and changing consumer behavior. In light of the unexpected demand for the digital enterprise and consumer services accelerated by the recent global pandemic, however, they have felt a pressing need to deploy new capabilities quickly to effectively monetize the growing opportunities enabled by the digital economy. They are currently confronted with an entirely new situation that calls for innovative solutions and distinct growth methods. Telcos are under more pressure than ever to find creative business models to boost sales and profitability or revert to a utility company.
Expanding Opportunities for New Revenue Streams in Telecom
Connectivity is the core business of telcos and service providers have relied heavily on core voice, internet, and messaging services to generate income. These core services continue to account for a sizable portion of service provider revenues. Traditionally telcos have attempted to boost revenues and maintain customer loyalty by offering foundational value-added services combining voice, messaging and data such as missed call alerts, voice mail, roamer messaging services, ring-back tone, and information and content services.
The unstoppable digitalization trend, accelerated by the pandemic lockdown, has fundamentally altered how enterprises and consumers communicate and consume media. The majority of workplaces had to adapt to accommodate remote working. As a result, a shift toward professional messaging applications and video conferencing platforms has occurred. Video conferencing and digital communication have become commonplace, and the technology is here to stay now that it has been developed and perfected. The average consumer significantly increased their consumption of over-the-top (OTT) media and content services, such as streaming video-on-demand (sVOD), streaming music, and multi-player games, simply to help cope with the harsh realities of the lockdown.
Unfortunately, the booming digital enterprise and consumer services have not benefited CSPs. OTT merchants offer and deliver these services directly to consumers via the Internet, while service providers lack the capabilities and the business models to manage and monetize the value chain realized through their data infrastructure.
We are now in the midst of a new wave of opportunities, as next-generation technologies such as 5G enable the Internet of Things (IoT) and Industry 4.0, opening up significant new revenue streams for CSPs. Network capabilities such as ultra-high-speed Internet, low latency, and network slicing are set to empower premium services in industry verticals such as healthcare, logistics, media and entertainment, and public safety, expanding the digital economy.
CSPs must rapidly deploy new capabilities in order to effectively and efficiently introduce, support, and monetize the expanding opportunities. Partner management and monetization systems must be modernized to seamlessly onboard partners, frequently refresh service catalogs, and easily bundle several subscription services into personalized subscription offers. The underlying legacy support systems must be transformed to enable multi-dimensional value chains for powering dynamic reconciliation and settlement models. In order to stay relevant in the marketplace, outwit competitors, and maximize customer lifetime value, CSPs must use powerful analytics to gain business intelligence.
Enabling Monetization with Telenity Digital Services Platform
To help the CSPs overcome challenges, Telenity provides its Digital Services Platform (DSP), an innovative solution building on invaluable service provider assets and strengths including, but not limited to, reliable connectivity services, deep customer intelligence, and strong payment relationship with customers built on trust.
Our Digital Services Platform meets the business support requirements of the ever-growing digital services playground. DSP is a unified digital service factory aimed at managing the digital services ecosystem, performing lifecycle management, monetizing emerging opportunities, and maximizing customer lifetime value. Armed with the DSP, CSPs can create and manage end-to-end digital services value chains, leveraging powerful tools for partner lifecycle management, service subscription management, hard and soft bundling, direct carrier billing (DCB), and fraud control. DSP covers the complete digital services journey, starting from the onboarding of partners up to reconciliation, settlement, and payments. It comes complete with business intelligence tools to enable subscriber analytics, streaming analytics, campaign analytics, and real-time recommendations.
In order to fulfill market expectations, Telenity also launched Enkudo, a new digital services brand providing end-to-end managed business services for partner ecosystem lifecycle management, turnkey digital content, marketing collaboration, and deep network integration.
DSP and Enkudo are offered under flexible, revenue-share commercial models with no upfront investment and upside revenue potential, creating a win-win situation for all parties involved.