The telecom industry is on the verge of a major transition and we can’t deny that 5G is playing a vital role in this. It is the new age technology that is enabling various modern use cases like remote surgery, autonomous vehicles, smart city, private networks and Industry 4.0.
Soon 5G deployments will be everywhere and it will cover 40% of the world by 2024 while handling 25% of all mobile traffic data. Thus, the CSPs are also realising the need to transform their business and operations systems in order to enhance their digital engagement with consumers and also to monetize their network investments.
5G enabling has brought up an anticipated surge in advanced technologies like AI (Artificial Intelligence), IoT (Internet of Things), AR/VR and many more. This has made it even more difficult for CSPs to fulfil the demands of their customers and support the new business model. Hence, change is necessary in order to keep up with the exceptional latency, better speed and high-quality service of 5G. Multiple hi-tech use cases in both enterprise and consumer markets are enabled with 5G, but for that, the telecom operators are required to collaborate with partners that can help provide for industry-specific use cases.
As per the recent TM Forum report, about 72% of 5G revenue growth would depend upon the OSS/BSS transformation. Thus, modernization of OSS and BSS is essential to become a Digital Service Provider that can react instantly to meet the growing needs of consumers. The traditional OSS/BSS systems aren’t capable enough to fulfil all the needs of the DSPs including ordering, billing, orchestration, billing and device management. An OSS/BSS solution, like the one offered by Echelon Edge, can help is meeting the evolving demands of new-age TSPs. Doesn’t matter at what stage they are on the digital transformation journey, Echelon Edge’s BSS solution can help the telcos in reaching the top of evolution.
The fact is that communication service providers need a technologically advanced platform that can serve both retail and enterprise customers from the initial phase of discovery and acquisition to onboarding, gaining actionable insights and self-care.
As a telecom service provider, you might be having several new revenue opportunities that can aid you in moving ahead from typical voice and data offerings. But you need to find the one that comes with years of experience in the field that possesses proven expertise in addressing the weak spots of the TSPs.
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