Managing telecom billing is no small feat. Beyond collecting payments, telecom operators have to handle a complex web of taxes and fees, as well as intricate billing structures covering everything from data top-ups to subscription upgrades. That’s why every mobile provider needs best in class telecom billing software.
Without a robust billing system, you risk soaring operational costs, a frustrating customer experience, or worse, falling foul of telecom regulations.
On the other hand, the right payments partner can transform your billing process into a seamless operation.
So, whether you’re new to telecom or a seasoned mobile service provider looking to upgrade your existing setup, here’s what you should consider when selecting your payments provider.
1. The telecom tax maze
Telecom taxes and fees are notoriously difficult to manage as they vary widely depending on the service type and customer location. A single plan could be subject to federal, state, and even local taxes, each with its own rate and specific application rules.
Your telecom billing software must be able to handle these complexities and automatically apply the appropriate taxes and fees. Without a robust system, even minor tax miscalculations can lead to compliance issues, financial losses, or damaged customer trust.
2. Ensuring telecom compliance
Telecom is one of the most regulated industries globally, and non-compliance can lead to severe penalties. To ensure you remain on the right side of the law, you must adhere to a wide range of regulations, including data protection laws, tax regulations, consumer protection acts, and industry-specific standards. As regulations differ by country and state, telecom companies need to ensure they comply with each set of laws in every area their customers are based.
Reliable telecom billing software should have built-in compliance features, such as automated tax management, customer data protection, and fraud prevention. It should also support compliance with specific telecom regulations like the Communications Assistance for Law Enforcement Act (CALEA) in the US or General Data Protection Regulation (GDPR) in Europe.
To make life easy from a compliance perspective, you can choose a telecom provider that acts as Carrier of Record. That means they will handle all legal accountability on your behalf and ensure compliance with global regulators.
3. Automatic payment retries
Failed payments are a common challenge for telecom companies. A robust billing system should include automatic payment retries to minimize lost revenue.
With automatic retries, the system will attempt to process failed payments at predefined intervals, increasing the chances of a successful transaction.
Look for billing software that uses machine learning to determine the optimal retry intervals based on customer payment patterns. Automatic retries reduce the need for manual intervention, ensuring a smoother experience for your business and your customers.
6. Support for multiple currencies and payment methods
Whether you’re already serving customers on a global scale or you’re looking to grow your business in future, it's crucial that your telecom billing software supports multiple currencies and payment methods.
Customers should be able to pay in their local currency using their preferred method, whether that’s by credit card or by digital wallets such as Apple Pay and Google Pay.
7. Managing discounts, refunds, promo codes, top-ups, and chargebacks
Without the right software in place, managing complex billing scenarios such as refunds, chargebacks, disputes, data top-ups, promo codes and upgrades can be a manual, error-prone process that costs your business money.
The right telecom billing system will allow you to automate these processes and set rules to ensure consistent application. It will also allow you the flexibility to run targeted campaigns and special promotions, with simple implementation and real-time reporting.
8. The importance of real-time analytics
Real-time data is key to understanding customer behavior. Without analyzing conversion rates, churn, and data usage, you’re flying blind.
Powerful analytics software can help you identify customers who are at risk of churning due to high usage costs or service issues, while revenue tracking helps you quickly spot and resolve issues such as billing discrepancies or payment declines, ensuring a smoother financial operation.
The best billing software providers will offer a real-time breakdown of your performance metrics along with actionable insights that can help you improve your service.
9. The advantages of a no-code solution
Not every mobile service provider has a dedicated technical team, or the resources to deal with complex integrations, which is why a no-code billing solution can be a game-changer. A no-code solution will allow non-technical staff to manage billing configurations, create custom workflows, and integrate new features without writing a single line of code. This empowers teams to make quick adjustments, launch new offers, and adapt to customer needs fast.
With no-code options, you can reduce dependency on your developers, enabling your team to move faster and respond to market changes more efficiently.
10. Seamless integration with other systems
Your billing software should integrate seamlessly with other core systems like your CRM and your frontend app or website. This will ensure that customer data flows smoothly across systems, reducing the risk of errors and ensuring you get a unified overview of each customer account.
For example, if your billing system properly integrates with your telecom CRM, you’ll be able to automate and personalize customer communications based on user behavior. If your systems don’t integrate properly, you can end up with broken user journeys and a pile up of customer complaints.
11. The benefits of an end-to-end provider
Working with several providers for billing, CRM, and wholesale connectivity comes with a multitude of challenges.
A lack of cohesion between systems can lead to a cycle of dependencies where fixing one problem causes another, making agility and innovation within your business near impossible.
By choosing an end-to-end telecom operating system that covers wholesale connectivity, payments, checkout and CRM, you can eliminate the need for multiple vendors, reducing integration complexity and streamlining your entire business process.
Maximize your conversions with Gigs
If you’re looking for best-in-class telecom billing software that optimizes conversions while minimizing operational costs, Gigs’ telecom payments system covers every base.
With advanced automation, market-leading conversion rates and detailed analytics, Gigs’ telecom billing software equips you with the tools to succeed in the wireless market.
But Gigs doesn’t just offer payments. As the world's only true end-to-end telecom operating system, we cover everything from wholesale connectivity to billing and subscription management.
With Gigs at your side, you can minimize cost to serve, maximize conversions and provide a seamless, digital-first experience your customers will love.
To learn more, get in touch.