What is IoT billing? Before answering that, we need to understand what the Internet of Things (IoT) is. In one of our previously written articles, we explained everything about the Internet of Things. This time we will discuss about IoT billing, challenges, and keys to solving them. The connection between our smart devices and everything…
Internet of Things, commonly known by its abbreviated name IoT, is used to describe the numerous devices available globally that are capable of connecting to the internet via Wi-Fi or sensors. IoT is simply a vast network of devices with an internet connection. These devices are capable of gathering data for exchange and analysis.Almost every…
To get ahead of the ever-growing competition in the telecom industry, Telecom providers need to deploy cutting-edge software solutions to cover their Telecom billing process, which needs to support the quote-order-cash business process. Firstly, telecom billing should be timely and accurate; this ensures that your clients or subscribers are happy and retained. Secondly, a bad…
Will the pay-as-you-go pricing model be the next big trend to hit major industries? As a subscription, media, communication, and IoT service provider, you must stay connected with industry trends and standards to remain relevant. Therefore, we have decided to analyze the consumption-based pricing model and what it would require to transit into a usage-based…
Subscription-based billing is considered to be a simple and effective pricing strategy, and there are a lot of advantages to using it. With that said, many businesses are opening their eyes to the more complex but also more flexible and creative, pricing package option, consumption-based billing. Consumption-based billing isn’t as popular as other kinds of…
With populations rising and more people relying on the city services they can access, smart cities are being developed and rolled out across the world to make the most out of limited resources that are only getting more expensive. These smart cities are developed with several goals in mind. These goals are built on a…
If you are anticipating the debut of telecom 5G so you can flawlessly stream quad HD videos on the internet, while downloading the complete star trek series and controlling a dozen other IoT devices, then you may have to wait a little longer. It is expected that full-scale 5G or telecom fifth-generation wireless is at…
When dealing with payments and payment types, a company needs to evaluate its services and customer base to find optimal payment solutions. Payment solutions must fit the company’s use-case and can make life easier for customers. Some customers also prefer certain payment types over the other, either due to simplicity or cautiousness. Depending on when…
In the quest to become acclaimed “smart cities,” municipalities globally are starting to employ several digital services. These services will accrue them flexible pricing models with an end to boosting revenue generation. Cities are beginning to implement smart pricing for Highway and bridge tolls, Education, Wi-Fi, Parking for commercial and consumer fleets, e-waste, and Recycling.…
When designing a billing and rating solution, there is a crucial step at the end of the quote-order-to-cash process. After rating usage events and purchases and issuing bills to the customers, the next step is processing payments. This step usually happens with the help of payment gateway providers, allowing processing payment methods and collection through…
