The way telcos do business and the expectations of their customers is changing dramatically. Traditional Communication Service Providers (CSPs) have had to evolve into Digital Service Providers (DSPs) to remain ahead of the competition. Not just in terms of the services they offer, but also in terms of how they deliver those services. From a billing perspective DSPs are learning that the bill plays a key role in the overall scheme of enhancing Customer Experience (CX). To deliver a seamless experience, proactive DSPs are making investments in the CX digital ecosystem that enable two-way data flow across areas such as billing, customer relationship management (CRM), content management, marketing and analytics. The customers benefits from an enhanced and more transparent experience whilst the DSP benefits from a wealth of information such as what the customer has bought, their billing and usage, their preferences, and their behaviour in terms of online data collected and even interactions with Chatbots!
Given that the bill is the one thing that customers are going to read the enhanced customer experience which can be gained from this element of customer engagement has become critical. Accurate, simplified billing communications minimize confusion, dissatisfaction and churn. Two key factors to enhancing the customer experience has always been the delivery of charging transparency and empowering the customer to self-serve and control their services and subsequent bills, without any shocks! They are also learning that, using the bill is an invaluable way to engage with customers. Creating a better billing experience, results in creating a satisfied and more loyal customer.
According to a recent Accenture survey, 64% of telcos indicated they were investing in or planning to invest in consolidating their current billing solutions, and consider this to be a top priority for the next two to three years. The ability to use the online bill as a means of pulling key customer data out of multiple billing and CRM platforms and marrying it with usage or costs trend analysis leads to intuitive subscriber data intelligence and this assists the DSP to formulate more suitable services and tighter relationships with their customers. This is of particular importance when we realize that the cost of winning a new customer is 13 times more than retaining an existing customer (Source: American Management Association).
Commenting from Frost & Sullivan. “Products and services that can strengthen the relationship between the customer and the CSP are critical to continued CSP profitability. E-billing and Big Data-driven analytics services can help CSPs differentiate their value on traditional voice services while encouraging the use of newer digital services.”
For some DSPs, however going through a costly and lengthy BSS digital transformation is not a short-term option, so the ability to bolt on an omni-channel EBPP (electronic bill presentment and payment) solution is the obvious strategy to follow. Given that on average 80% to 90% of calls to call centers relate to billing (Ovum), telcos must ensure that they have tools to allow their Customer Care teams to address those issues but better still to identify solutions which can reduce the number of calls and inherent care costs. According to the Yankee Group, “Soft-ex’s Optimiser TDI solution is well positioned because it simultaneously delivers real value to CSPs marketing and sales executives and their customers”.
You can learn about Soft-ex EBBP by emailing: email@example.com
– Grainne Magfhloinn, SVP Marketing Soft-ex, a WidePoint Company
Soft-ex is a leading supplier of Online Bill Presentment and Analytics SaaS solutions that provide unique online data intelligence for Communication Service Providers (CSPs) and their Enterprise customers for fixed, mobile and PABX communications. Headquartered in Ireland with offices in the UK, the Netherlands and Scandinavia, we have customers and partners in over 90 countries globally. Customers include Telefónica, BT, Three, Vodafone, KPN, Telia, Microsoft, Nationwide, Lloyds, Shire and Prudential, to name but a few. For more information, visit www.soft-ex.net.
WidePoint (NYSE Mkt: WYY) is a leading provider of secure, cloud-delivered, enterprise-wide information technology-based solutions that can enable enterprises and agencies to deploy fully compliant IT services in accordance with government-mandated regulations and advanced system requirements. WidePoint has several major government and commercial contracts. For more information, visit www.widepoint.com.