May 04 2016, Written by - Boni Satani
7 Technology Investment Telecom CEO’s can make to cut down their Cost
With soaring competition in the market, it’s really important to provide the best services at the lowest rates. No matter how profitable your company is, there’s always that wee bit of fat that can be trimmed away to reveal a faster, shinier, more efficient version of the business.
Here are 7 Technology Investments that you can make to boost the revenue of your organization or business
Dispute Management Solution
Upgrade to TRM (Telecom Resource Management)
Invest in Mobile Financial Solution
NFV/ SDN Solution
Unified Communications and Collaboration (UC&C) is the integration of real-time applications such as video presence, IM, email, voice mail, fax, video conferencing, web collaboration and CRM. The integration of all these various forms of workplace communication facilitates your telecom network with numerous operational advantages.
The empowerment of all these modes of communication and their ability to collaborate across mobile and static work locations reduce the response time for clients and alleviate interdepartmental issues. Further, the capability to provide more effective connectivity and communications among employees also improves the ability of an organization to move more effectively to hoteling and telecommuting environments, without the inefficiencies of people being “hard to reach”.
Intelligent Routing Module/ Software
An intelligent routing platform suggests routing through advanced Routing Analysis tool and allows you to take a decision before defining the routing. The system then automatically selects the optimal path of outbound communications traffic based on operators’ quality, margin or cost parameters.
Better Dispute Management Solution
Business and the disputes associated with it go hand in hand. Higher the volumes of business, higher are the disputes. These disputes, if not handled properly can eat up the bottom-line of the business.You should opt for the state-of-the-art systems and solutions, which can not only assure you ZERO revenue leakage, but also take care of the disputes automatically, in case any arises.
Upgrade to Telecom Resource Management Solution
Though Customer Relationship Management (CRM) is at the core of the enterprise, but Telecom Resource Management (TRM) is a solution that empowers businesses to completely focus on the customer lifecycle rather than sales process, which is the need of the hour for companies to increase their revenue and achieve sustained market growth.
Such kind of solution not only facilitates customer lead generation, acquisition, conversion, retention, and loyalty, but also specifies the labyrinthine terms and conditions of the agreements, tariffs, discounts, invoicing, payment schedules and more.
Invest in Better Mobile Financial Solutions
The revolution of mobile applications has totally changed the way people use their mobile devices. Besides calling, gaming and social networking, users have now started using their mobile devices for numerous services like banking, ticketing, bill payments, recharge, money transfer and many more.
Today, in order to drive new revenue streams and retain your existing customers, offering stable, secure and convenient mobile options to users has become vital for institutions.They have raised the need for mobile operators, service providers,banks, and financial institutions to have a flexible and scalable platform that can simplify service offerings through multiple channels.
Moving to NFV / SDN
Network Functions Virtualization (NFV) provides your business with a modern agile environment for prompt respond to customers’ needs, approach the market quickly with new services, and reduce both capital and operational expenditures. NFV takes software applications that run on proprietary hardware and allows them to run on standard x86 servers. This enable score network infrastructure to dynamically allocate network, compute and provide storage to meet the workloads on-demand. NFV also permits you to move these workloads to different servers. They can even be moved to different data centres as needed and scale them up or down without changing the underlying hardware.
Leveraging Cloud Computing
Cloud computing can greatly benefit the telecom operators, as users of the technology by streamlining many of their business operations through clouds. This will improve flexibility, accelerate time-to-market and help in cost savings.
Telecom operators can also choose to commercialise these cloud applications. This will open up the opportunities in traditional markets, including outsourced billing for over-the-top (OTT) players, or a vehicle that allows you to enter emerging segments like cloud-based machine-to-machine (M2M) platforms.
Lower marginal level and the accelerating demand of offering unique experiences every time to the customers require telecom companies to come up with some out-of-the-box solutions, always.
We are sure that these 7 ways will definitely help your business in accelerating the revenue, reducing the costs, enhancing work efficiency, increasing customer satisfaction, along with an array of several other benefits.