Tag: telecom

Discover the Benefits of Automated Telecom Billing Systems

In today’s fast-paced and technologically advanced world, telecom companies are constantly looking for ways to streamline their operations and improve customer satisfaction. One area that has seen significant advancements is telecom billing. Traditionally, telecom billing involved manual processes that were time-consuming and prone to errors. However, with the advent of automated telecom billing systems, telecom companies can now enjoy a wide range of benefits that not only improve their internal operations but also enhance the overall customer experience.

Challenges and Opportunities for Telecom Providers

The telecom industry is not without its challenges, but these challenges also present opportunities for growth and innovation. Telecom providers must navigate the following challenges and seize the opportunities they bring:

Serious Fraud in the Telecom Sector Costs the Industry $17bn in Revenue a Year.

According to the report by the ITW Global Leaders’ Forum, most telecommunication companies do not contend with fraud traffic. This situation can lead to greater financial losses with the spread of Internet of Things, when billions of IoT devices could be hijacked or reconfigured. Put this in perspective, fraud costs nearly $30 billion globally last year according to the Communications Fraud Control Association (CFCA).

Considering the rate of technological development, it’s no surprise how fast some industries have revolutionized within a couple of decades. Since the early 21st century, the telecom industry has been riding on high tides of tech revolutions. Generally, telecommunication is mostly associated with technologies including telephone, emails, fax machine, and radio; the ways of communication. Each innovation in the domain brings another wave of real-time connectivity leading towards globalization.

“When you are starting your own telecom business, you automatically start dreaming of becoming the next Version. However, the fact that you’ve basically got nothing to lose seemed rather advantageous and to some extent inspiring for me,” says Andrii Bashtannik, CTO at Spacetel. “When we just started, all we’ve got was passion, it turned out to be enough.”

IoT is not in itself an engine of the telecom business unless this technology is developed. In other words, if within the framework of the IoT the communication operators will provide only communication channels for the final services, then the profit will be able to earn from it only in the short term. The fact is that the cost of communication services for IoT will fall steadily as the number of devices will grow.

Telecom operators are facing a year of falling revenues from voice services. They have started to earn revenues on IoT-services, selling greetings with photos and videos in social networks, providing their infrastructure for rent, which indicates the transformation of companies from telecommunications to technology. Why is the business of mobile operators dying and what other changes are expected by the telecom industry in the future?

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