Be Ready With a 5G Converged Charging System to Maximize the Opportunity
5G unlocks significant new commercial potential for Communication Service Providers (CSPs), enabling business models that converge access networks, edge capabilities, and a wide partner ecosystem. Without the ability to execute, however, the potential is wasted. CSPs are hamstrung by legacy business systems that are siloed, slow and complex. They need agile business support systems to facilitate ongoing innovation that includes emergent device types and ecosystem partnerships. To compete, CSPs must maintain speed and flexibility as they create, test and deploy new services in a matter of days at minimum or no cost.
Consumers expect greater personalization and immediacy from products and services, interacting with them whenever it suits with accurate, real-time information. Too often CSPs struggle to provide the timely, hyper-personalized, universally accessible experiences customers want — falling short because they are constrained by a tangled web of outdated systems and cumbersome processes.
At well over 50% of the overall enterprise market, the small and medium enterprise (SME) represents an excellent growth opportunity for CSPs. Because these businesses are time-poor and typically lack internal IT resources, they embrace OPEX-financed, managed services. SMEs should represent a recurring success story for telcos, but it is a market that to date has been persistently underserved.
B2B represents the fastest growing market segment for digital and IT services, with an increasing number of vendors making various network, communication and collaboration services available to enterprises directly through the cloud. This opens a significant opportunity for CSPs, who can enable partners to quickly harness network resources in flexible ways, without hindering delivery or business models across a complex chain of participants.
5G expands the potential of private networks dramatically, enabling dedicated 5G coverage in challenging environments, such as multi-tenant buildings or multi-campus facilities. The ability to connect devices and people to secure, reliable and optimized networks from any place at any time will be transformational, opening new capabilities and opportunities for many industries.