Need-to-Know Statistics That Will Get Your Company on Board with Cloud Billing

Posted by admin, February 7, 2014

Believe it or not but we’re quickly nearing the end of 2014. As you wonder where the year went, also spend some time re-evaluating your company’s goals for the coming year—and how your existing tools and technologies can further your agenda. You might be interested in cloud telecom billing software, for example, but may not know where to start your due diligence for possible implementation. To help you put your best foot forward, the BluLogix team worked to find some of the most powerful recent telecom billing statistics to fire up your plan (or to help motivate you towards considering the technology):

  • The worldwide revenue management market is forecast to grow from $5.66 billion in 2013 to $6.35 billion in 2018, driven by such things as convergent billing, mobile services and the increasing use of mediation systems for non-charging applications (Source: Analysys Mason).
  • Ninety-two percent of communication service provider (CSP) executives believe their existing billing systems impede the launch of new offers; almost half said their current billing capacity is a major barrier to delivering new products and services to customers (Source: Accenture).
  • Specifically, the cloud billing market is expected to reach $5.4 billion by 2018 with a compound annual growth rate (CAGR) of 27.7 percent from 2013 to 2018 (Source: MicroMarket Monitor).
  • Sixty-six percent of CSPs believe that billing accuracy is a key challenge because their current billing platform can’t handle the market’s expanding array of new services and devices (Source: Accenture).

 

Top Challenges of Existing Billing Systems Cited by CSPs in Accenture’s Survey Include

  • Billing for bundled service (60 percent)
  • Processing the volume of data typically generated with digital services (60 percent)
  • Achieving faster time to market; 70 percent of CSPs say their current billing capabilities delay time to market
  • Poor integration with other key systems such as CRM, product catalogues and order management (70 percent)

Now is the best time to cast an eye toward those technologies and processes that will help position your brand for the best possible year ahead.  So ask yourself: Could your back-end operations use a little bit of a lift? Or, are you still working within siloed, layered billing platforms? Click here to schedule a demo with the BluLogix executive team.