The proliferation and adoption of new technologies and services is driving many of today’s communications service providers (CSPs) and Enterprises to seek new ways to streamline their business, reduce costs and augment revenue, whilst better serving customers. To fulfill their business needs – many are turning to Cloud.
As confidence grows in Cloud and Software as a Service (SaaS), competitive service providers are leveraging cloud-based delivery to support more critical business functions like billing and charging to achieve real benefits, including:
- A fully managed end-to-end, real-time, multi-tenant system
- Reducing the large upfront CAPEX investment traditionally required with on-site billing systems
- Alleviating the reliance on in-house expertise required from the network and IT staff to manage upgrades and on-going support of the system
- Accelerated time-to-market to launch new services
- The flexibility to scale up when required
- Better focus on the CSP’s core business, resulting in improved products and services and better subscriber life cycle management
The Cloud Billing Market is expected to grow from $4.5billion in 2015 to $14.6billion by 2020, at a Compound Annual Growth Rate (CAGR) of 26.3%. Fuelled by the evolution of Cloud, and increasing demand for automation of billing processes to simplify the complexities of dynamic pricing – service providers utilizing Cloud and SaaS can effectively increase business agility, cost controls and customer satisfaction.
Whilst elimination of CAPEX is the clear headline attraction, Billing-as-a-Service allows CSPs to try new things without committing to a large upfront expense, and that is what is driving cloud and SaaS adoption.
For more advantages to utilizing Cloud and SaaS, check out my recent article “Billing-as-a-service benefits beat the capex burden and constraints of in-house systems”.
The author of this blog is Chris Newton-Smith, Redknee’s VP of Marketing
