Soft-ex CEO Ian Sparling highlights some key trends in the CSP Billing & CEM space for 2016.
There are a number of key trends in the CSP Billing & CEM space indicated for 2016. Based on client feedback from our global CSP customers and market feedback in general, we anticipate the following trends:
The CSP marketplace continues to be extremely competitive. Incumbents, mid-sized players and new entrants will be concentrating to retain existing customers and attract new business from competitors. With constantly reducing profit margins and greater commoditisation of traditional service offerings, not to mention the need to increase speed to launch new services, CSP’s will face a number of challenges. However there are a number of key opportunities which can be leveraged to offset these challenges.
CSPs will start to view their billing operations, service delivery and customer support processes with new strategic importance. Billing communications is now viewed as a key opportunity to improve customer loyalty and attract new business. Efficient billing processes, personalised invoices and transparent charging all assist to enhance the overall customer experience and engagement. Customers are less likely to churn if they have easy to navigate online bills. Care costs of the CSP will also be dramatically reduced as most calls to call centres are to do with bill queries.
It is increasing in popularity with CSPs to use billing data to analyse specific customers usage activity and to use this data to target specific segments with tailored packages and service. Its all about keeping satisfied customers loyal and encouraging new business with value-add services which enhance the customer experience.
For a long time, the rich data contained in billing systems has been overlooked and underutilised. By analysing the data and deriving Subscriber Data Intelligence, CSPs will be able to better engage with their customers to offer new and customised services to each of their customers. Furthermore the Sales & Marketing teams of the CSPs will be better positioned to understand the customers needs and be more proactive in terms of optimising service offerings, especially in the run up to contract renewals.
Soft-ex is a leading provider of Online Bill Presentment and Analytics with customers such as Three, Telefonica & eir benefitting from:
- Enhanced customer experience via Personalised EBPP (Electronic Bill Presentment & Payment).
- Cost savings via consolidated internal billing and reduced customer care costs.
- Subscriber Data Intelligence/Account Management.
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