5G is a buzzword heard everywhere, but it's 5G monetization that insiders in the telecommunication industry are talking about. The question is not what 5G can do but how to monetize on it and what monetization strategy and solutions (billing systems) to use. 5G is the 5th generation mobile network that will revolutionize connectivity. 5G can connect virtually everything, from machines and objects to devices. We all know the technical side and abilities of 5G, but the big questions remain: What strategies and new business models will telcos use to monetize on 5G? Will they repeat the missed chances of 4G implementation, or will they make it right this time? Table of contentsWhat is 5G Monetization?Why Telcos Must go with 5G?Why is 5G Important for Telcos?What is 5G?5G vs. 4GGeneral Features and Benefits of 5GWhat do Consumers Expect from 5G?What do Businesses Expect from 5G?5G Monetization Use Cases – Stage One5G Monetization Use Cases – Stage TwoAre Telcos Ready to Unlock the 5G Potential?Don't Repeat the Monetization Mistakes of 4G!How Telcos can Monetize on 5G?Challenges of 5G Rollout StrategyMonetization is Only Possible with a 5G Billing SystemPublic Cloud BSS 5G Monetization Systems BenefitsBenefits of Converged BSS and Online Charging Systems (OCS)Benefits of Cloud-native Architecture for 5G Monetization SystemsExtreme Performance with High Throughput and Low LatencyWhat means No Code, API First Design, and Why it's Important?Why is Convergent Charging essential in 5G Billing?Tridens Monetization as the Solution to 5G Monetization There is a big buzz about 5G! However, it is a standard prediction that it won't hit mass adoption, at least until 2025. It may look like there is still a lot of time, but there isn't. Enterprise executives need to get on board asap and address the challenges of adopting 5G. Adopting 5G is a big challenge for Telcos or Communications Service Providers (CSPs) if we use the correct term. The expectations of customers, businesses, and the general public from 5G technology are high! It's no wonder, considering the immense "buzz" created around 5G in recent years. In the 5G rollout process, everybody is asking one big question? How can the Telcos (CSPs) monetize with 5G and get returns on the big investments needed? What is 5G Monetization? 5G monetization refers to various business strategies Communications Service Providers (CSP) can use to generate income from their 5G networks and services. It can include selling 5G services to consumers, charging businesses for access to high-speed 5G networks or network slices, and monetizing data and other services enabled by 5G technology. Some potential monetization strategies for 5G include offering enhanced existing services and using 5G to generate new products and services. Netflix 9.99$ to 19.99$ per month. Amazon Prime 14.99$ per month. Youtube Premium 11.99$ per month. SoundCloud and Deezer 9.99$ per month. Ubisoft+ 19.99$ per month. EA play 4.99$ to 19.99$ iTranslate PRO from 3$ per month ... What do these products and many others have in common? These are just examples of some services that will significantly benefit from 5G, and everybody uses at least some of them and pays a subscription. As seen, we are already willing to pay for video and music streaming, cloud gaming, instant translators, and many other services that require a fast and stable data connection. Therefore this will be the first service where 5G will debut. But do Telcos have the existing BSS ready for 5G, and do they have a business plan on how to monetize 5G? There are many different ways to monetize 5G. To find the right one, telcos need to understand what their customers (B2C, B2B, and even B2B2X) want and expect from 5G. Only then can they develop a strategy that will work for them. Why Telcos Must go with 5G? The answer to this question is very simple. 5G is the future, and any telco operator that will not implement it will, in a few years, look like a delivery service still relying on horse carriages when everybody else is using cars. 5G is at the top of major telecom industry trends, but it's also a buzzword. Users want it, even if, in reality, they don't need it or can't use its potential jet. As communications service providers (CSPs), telcos are transforming themself into digital service providers (DSPs) to secure their position in the evolving digital world. They strive to deliver connectivity and launch new market offers in a multidimensional open ecosystem. Why is 5G Important for Telcos? As mentioned, demand from users and the public image will demand that all Telcos offer 5G. But more importantly, 5G is also an opportunity for Telcos to monetize and earn the revenues they missed when implementing 4G. When Telcos implemented 4G, most of them didn't monetize on it.Instead, they offered 4G as an upgrade without charging for it or creating substantial additional revenue.With 5G, they now have the opportunity to change that. Some key features of 5G that telcos can use to monetize are higher speeds, lower latency, more capacity, better reliability, and enhanced security. These features enable new use cases, applications, and 5G business models that were not possible before. For now, 5G's benefits will first reach mobile phones. 5G data transfer is 10 to 100 times faster than today's 4G networks. 5G will most impact the gaming, media, and AI industries, followed by the security, transportation, and healthcare industries. For telcos to fully unlock the potential of 5G and monetize on it, they need to have the right Telecom billing software in place. A 5G billing system needs to support the new use cases and applications that 5G enables. Please read on to get a deeper insight into 5G billing software. What is 5G? When talking about 5G, the most important aspect to remember is that 5G is much more than just a faster 4G. 5G, the fifth generation of cellular network technology, offers significantly faster speeds and lower latency than 4G. Therefore it's ideal for applications that require high bandwidth or real-time communication. 5G also has the potential to support a much larger number of devices than 4G. Therefore 5G is ideal for the Internet of Things (IoT) and other applications. 5G revolves around three key technologies: eMBB stands for enhanced Mobile Broadband URLLC is short for Ultra-Reliable & Low Latency Communications mMTC means massive Machine-Type Communications 5G vs. 4G There are several benefits of 5G over 4G. The most obvious is speed. 5G offers theoretical peak speeds of 20 Gbps, while 4G tops at around 1 Gbps. This means 5G can download a 4K movie in seconds, while 4G would take minutes. Latency is also much lower on 5G, which is critical for virtual reality and autonomous vehicle applications. Finally, 5G can support a massive number of devices thanks to its higher capacity and lower power requirements. However, 5G is still in the early stages of rollout, which means limited coverage. Also, 4G is currently more widely available and supports a wider range of devices. For most people, 4G will be the better choice for now. But if you need the highest possible speeds or lowest possible latency, 5G is the way to go. General Features and Benefits of 5G What distinguishes 5G from 4G and will enable this revolution everybody is talking about? One of the most notable 5G innovations is increased bandwidth. 5G networks can support much higher data rates than 4G networks. Therefore they are ideal for applications that require large amounts of data. Most commonly connected to 5G benefits, you will hear terms like lower latency, higher capacity, network slicing, and private 5G networks. Let's get a little more technical on the features and benefits of 5G. 5G Ultra-Low Latency One of the most notable 5G benefits is its extremely low latency rate. The latency is the time it takes for a device to receive a response from a network after sending a request. 5G networks can achieve latencies of less than one millisecond, which is significantly lower than the latencies of 4G networks. This low latency has several implications for businesses and individuals. For businesses, 5G monetization opportunities will arise from new and innovative 5G applications requiring real-time responses, such as augmented and virtual reality. For individuals, 5G will provide a better experience for gaming and other interactive applications. In addition, 5G will enable new types of devices, such as connected cars and intelligent home appliances, to communicate with each other in real-time. 5G has a Higher Capacity 5G higher capacity is one of the 5G monetization opportunities. It can enable CSPs to generate new revenue streams and create new 5G use cases. The 5G technology can support up to one million devices per square kilometer. Therefore, it is the driving force behind the Internet of Things (IoT) concept and Industry 4.0. Because of higher capacity technology, Telcos can use 5G to improve the efficiency of existing 4G LTE networks. They can use 5G higher capacity to offload data traffic from their 4G LTE networks onto their 5G networks, freeing up spectrum for other uses. It can also improve the coverage and capacity of existing 5G networks. CSPs can deploy 5G higher capacity technology in areas with high traffic demand, such as sports arenas and concert venues, to provide enhanced coverage and capacity. 5G higher capacity is a key enabler of 5G monetization strategies and will play a critical role in enabling CSPs to generate new revenue streams from 5G services. 5G Network Slicing as a Monetization Opportunity Network slicing is unique to 5G. The basic idea of network slicing is to "slice" the original network architecture in multiple logical and independent networks. Network slicing enables the creation of multiple independent "on-demand" end-to-end logical networks that run on shared physical infrastructure. With 5G network slicing, networks can accommodate different quality of service (QoS) requirements on a single physical network infrastructure. Each slice is configured to meet the various service requirements effectively. Each slice's capabilities, such as data speed, latency, security, and mobility, are defined individually according to the demands of the particular service or use case. Further, each slice is logically separate so that no slice can interfere with the traffic in another slice. As a result, each slice appears as a different network to the users. To illustrate it simply, slicing can enable video streaming, autonomous vehicle communication, and emergency services to run on the same infrastructure without interference with each other. A service like smart parking meters values high reliability and security but is more forgiving regarding latency. However, other services like driverless cars or live broadcasting may need ultra-low latency (URLLC) and high data speeds. Network slicing in 5G supports these diverse services and efficiently reassigns resources from one virtual network slice to another. With network slicing, new business models and use cases will create new 5G monetization possibilities for service providers. 5G Private Networks GSMA, the organization representing the interests of mobile network operators, predicts that up to 40 percent of corporations could use private mobile networks by 2025.A 5G private network is a wireless network that uses dedicated hardware and software resources to provide secure access to data and applications. It can be deployed on-premises or off-premises.Another advantage of a private network is that it can be customized to meet the specific needs of your business. For example, you can tailor the network architecture, security features, and application support to fit your business's unique requirements.Private 5G networks also offer businesses the flexibility to choose the coverage, capacity, and speed that best meets their needs, which makes them an essential part of doing business in the future. 5G Power Consumption In recent tests on mobile phones, the power consumption was about 10% bigger when using 5G, primarily due to the data transmission speed. However, in the context of the industry and IoT, 5G energy consumption is much lower than with 4G. That means that connected IoT devices will use less energy during transmissions. According to some analysts, remote devices and sensors could operate for up to ten years on a single battery. What do Consumers Expect from 5G? With all the hype around 5G, customers' expectations for 5G are high. They expect everything to work fast and without any problems. If a lag in video calls with 4G is something they can live with, they won't tolerate it with 5G. The same goes for video streaming, gaming, or anything connected to mobile data usage. 5G must work as promised. After all, if 5G becomes the basis for self-driving cars or remote medical procedures, there is no room for error. 5G networks are expected to revolutionize how we communicate and interact with the world around us. The telecommunication industry is making bold claims about 5G, so it's only logical that the customers expect them to deliver. What do Businesses Expect from 5G? For businesses, the expectations from 5G deployment are even higher! The Juniper Research into 5G monetization predicts that the global revenue from 5G services will reach $600 billion by 2026. According to an Ericsson and MIT technology report, the estimated value of 5G potential for the global B2B will reach $700 billion by the end of 2030. Whatever reports or predictions we look at, one thing is certain - 5G presents the previously unseen potential for monetization. It's mainly because 5G will be the driving force behind Industry 4.0. or the Fourth Industrial revolution. This new era of industrialization promises to enable unprecedented productivity and improvements in connection with the Internet of Things (IoT), thus making machines smart. Of course, this raises the pressure on CSPs to ensure the 5G networks work flawlessly. Only then can we expect companies to use them for their products or production optimization. 5G Monetization Use Cases – Stage One The implementation of 5G in praxis will take time to happen. We will see the 5G technologies implemented at different speeds depending on the use cases. While we are already in stage one, it will probably be around the year 2025 when these 5G use cases will be fully implemented. The first stage of 5G use cases will revolve primarily around ultra-fast data transfer and low latency, enabled by enhanced Mobile Broadband (eMBB) and Ultra Reliable & Low Latency Communications (URLLC) technology. 5G Internet and Private Networks One of the first areas where 5G is making its debut is ultra-high-speed broadband internet or Fixed Wireless Access (FWA). Here 5G can present an alternative to broadband internet access via Fiber, Cable, or DSL. Telcos have a chance to deliver ultra-high-speed broadband and private 5G networks to areas where investing in classical infrastructure is not economically justified. 5G fixed wireless access opens a new world of monetization opportunities for Telcos in suburban and rural areas. The ultra-fast internet 5G connection is wider than just homes and businesses. It will also be used in areas like transportation. For instance, proper road and trackside infrastructure will provide seamless onboard connectivity for commuters on trains and buses. 5G Live Broadcasts, Video Calls & Real-Time Streaming The speed of 5G networks combined with almost zero lag is ideal for real-time video transfer. Whether in high-definition video calls, live broadcasts or 4K video streaming, 5G will provide pin-sharp resolution without freezing. Live Broadcasts and Breaking News Coverage One of the first 5G use cases is already happening in live broadcasts and breaking news coverage. The traditional broadcasting model involves a lot of on-site personnel and equipment with a robust cable or satellite connection. Therefore, broadcasting live events or breaking news is complex and costly. With 5G, broadcasters can ensure connectivity with network slices optimized for live broadcasting in terms of bandwidth and latency, for example. A broadcaster can also remotely control cameras, microphones, and other equipment to capture and transmit the event. All this can significantly reduce the cost of transporting and setting up equipment. It also reduces the needed on-site personnel and the total costs of a live broadcast. By reducing the operation size and costs of live broadcasting, 5G network slicing enables more affordable live broadcasts. Smaller media companies, influencers, and vblogers can start to cover live events that prominent media corporations don't. In addition to resource optimization, scalability, and flexibility, 5G network slicing also enables better-targeted advertising. With 5G slicing, CSPs can offer slices optimized for live broadcasting, charge for this premium connectivity, or even introduce services customized for live broadcasting. Cloud Gaming The gaming industry has recorded tremendous growth, and the trend is going toward cloud gaming. New games are becoming increasingly resource-heavy and with high-definition graphics. 5G with low latency and an ultra-fast connection is the only real alternative to fixed broadband internet access. Real-Time Augmented Reality (AR) 5G real-time augmented reality will first enter the market in gaming, but soon the application in the industry and, for instance, in sports events will follow. With AR, a viewer could get an almost real-life experience of driving an F1 car. In the industry, the mechanic equipped with VR goggles could repair a machine while looking at an overlay with detailed plans. AR aims to enrich the experience of gaming, sightseeing, or sports events. Paired with mobile phones or dedicated equipment like VR goggles, 5G will enable AR to enter our lives in a way not possible before. Instant Language Translations Instant language translations, like Google Translate or iTranslate, need a fast connection and a lot of data for AI to work. With 5G, we are one step closer to real-time text or speech translations, something every traveler dreams of. 5G Monetization Use Cases – Stage Two The second stage of 5G adoption will revolve around services that require extreme reliability and low latency. On top of that, it will need to support a massive number of connected devices and sensors. With URLLC (Ultra-Reliable & Low Latency Communications) and mMTC (massive Machine-Type Communications) technology, we will see advances everywhere, from smart cities to self-driving cars and healthcare. Most experts agree that we can expect the second stage to start around 2025 but to come onto "center stage" by 2030. Smart Homes & 5G Monetization A smart home will be a home equipped with smart meters, IoT devices, and sensors, all connected by a 5G network. In the first group, we have devices like Smart TVs, voice assistants that can control various functions and devices (like Google Home or Alexa), and smart appliances like refrigerators that can monitor and order food. A smart home can also be remotely managed or automated. The owner can remotely monitor and set up security features like alarms and cameras. The lights, ventilation, or heating and cooling functions can be automated or operated remotely. Smart sensors will also notify the owner and authorities in case of fire, water spillage, or burglary. But more importantly, smart meters will monitor energy consumption or consumption of resources like water. It will give users a better insight into their consumption and costs and enable them to plan their budget better and save money by changing their behavior. For energy & utility companies, these smart meters will mean that they will have accurate real-time data collection connected to their utility billing software. With the right 5G monetization strategy, utility companies and CSPs can launch new products and services. For instance, instead of a fixed monthly fee, customers could pay for trash collection on a "pay-per-use" model. How? With a smart trash can equipped with 5G-enabled sensors that report when it's full and needs to be collected. Smart Cities and 5G Massive IoT Smart cities will use 5G-connected devices or the Internet of Things (IoT) to monitor and collect various data across the city. This "Massive IoT" describes the enormous number of IoT devices that will, with the help of 5G networks, communicate with each other. They will gather data on everything. Energy or water supply and consumption. Air quality, traffic patterns, public transport occupancy, and more. All this data will be a basis for making informed decisions and plans on efficiently running a city and planning infrastructure. 5G & Smart Energy Grids 5G technology will fundamentally change the energy industry. It will enable energy monitoring at every step, from energy production to smart cities and the final consumer in his smart home. That is why it's regarded as one of the top Energy and Utilities industry trends. With 5G-enabled equipment, energy producers will have real-time data not only on the current energy production but also on the state and health of equipment. For instance, they will be able to monitor the state of windmills or perform remote maintenance. A network of connected devices and sensors will enable precise monitoring and forecasting of energy demands in the power grid. These new smart grids will be easier to manage, more efficient, and require fewer investments, making them more cost-efficient. Smart grids can balance the energy load and reduce electricity peaks automatically. The collected data will also make the planning of energy infrastructure easier. Automotive Industry & 5G Ah, the self-driving cars! It's the most anticipated technology advance since the first cars appeared in sci-fi movies. Now, finally, we are getting close to it, and it's thanks to 5G technology. In theory, it's a simple concept. All the traffic infrastructure has sensors and devices that monitor and report everything happening in a specific area to a system in the cloud. All the vehicles are connected to the cloud and constantly report their data, like real-time location, speed, intended destination, battery status, and so on. Besides that, all the vehicles can monitor the surroundings and autonomously communicate with other nearby cars to change lanes or avoid collisions. Then, based on information from the cloud-based system, the GPS, and data from other vehicles, your car can safely drive you by itself to the final destination. But as so often, it's more complex. We need fast and reliable communication networks for this fully interconnected and intelligent transport system to work. A solution to this challenge is 5G, with its speed, low latency, and network slicing feature. By assigning an appropriate slice to self-driving cars, network operators can prioritize data transfer of cars over other network users. With cars with assisted driving already on the roads, we will see autonomous driving as a feature relatively soon. With self-driving being such a desirable feature, new monetization business models for car makers and 5G providers are just around the corner. Telemedicine and Remote Surgery A futuristic but very real concept emerging is telemedicine and remote surgery. It is a procedure where the surgeon remotely controls an on-site robot that is actually operating. The surgeon controls the robot with the help of augmented reality and IoT Wearable AR goggles. Like with self-driving cars, it all comes down to the speed and the reliability of the connection, which is made possible by implementing 5G. There are also many other areas in healthcare where 5G will be beneficial. However, remote surgery is the most exciting one because it will enable specialists to perform operations practically anywhere in the world. 5G in Agriculture Agriculture is one of the areas where 5G will impact our society the most. 5G networks will revolutionize agriculture by implementing so-called "precision agriculture." 5G-powered sensors measure anything from soil properties, weather, and livestock health to crop characteristics in real time. All the collected data is then uploaded and analyzed in the cloud. Advanced algorithms will create different forecasts and scenarios to help farmers make informed decisions. Based on the data, farmers can decide what crop to plant, what fertilizer and pesticide to use when to irrigate the fields, and when to harvest the crops. Animal breeders can monitor livestock health, food, water quality, or feeding patterns. In connection to IoT used in agriculture, we must mention autonomous agricultural vehicles, especially drones, that can be used for everything from monitoring to spraying the fields. The whole purpose of precision agriculture is to apply smart agricultural management to achieve the best output at a minimal cost. Are Telcos Ready to Unlock the 5G Potential? One thing is sure. There are significant challenges Telcos must overcome in 5G deployment. One of these challenges is security, but with the right standards, the industry will overcome that. Telcos must address the more critical question: how they will cover and collect on their investment in 5G technology. 5G network development requires a significant investment in infrastructure to create ultra-dense grids to compensate for the range limitations. The 5G network infrastructure is a combination of macrocells and small cells. Macrocells are what we commonly see as big antenna towers. Because mmWave frequencies can only cover short distances, we need small cells to create an ultra-dense grid coverage. Small cells are small strategically placed antennas (on lamp posts or buildings) that enable complete coverage of a densely populated area. Therefore, the 5G network expansion will mostly depend not on the number of installed macrocells but on the ability to invest and install small-cell base stations. Before making these investments, Telcos must know what monetization strategies and business models they will implement and how they will approach the 5G rollout. It is a common prediction that we can expect fully functional 5G networks only after 2025. Don't Repeat the Monetization Mistakes of 4G! When Telcos implemented 4G, most didn't monetize on it. Instead, they offered 4G as an upgrade without charging for it or creating substantial additional revenue. That was the biggest mistake CSPs made, but the list goes on. Differentiation Unfortunately, many telecoms didn't differentiate their services. That made it difficult for customers to choose between different providers. Innovation Some CSPs also lacked innovation and didn't invest in new technologies. These services could have differentiated their 4G offering from competitors. Transparent Pricing Also, not all presented the customers with clear and transparent pricing. Therefore, the customers had difficulties comparing services to find the best service suited to their wishes. Lack of Quality With 4G still mostly in use, the focus on quantity over quality is something we still see today. Telcos often focus on getting as many customers as possible rather than having fewer customers with high-quality service. Some customers experience poor service quality and dropped connections, all because the companies need to invest more in their network infrastructure. Lack of Coverage The lack of coverage in rural areas is something still very much present. As a result, we see a lack of adoption, dissatisfied customers, and a loss of potential revenue. With these lessons hopefully learned, Telcos now have the opportunity to monetize properly with 5G technology. How Telcos can Monetize on 5G? When talking about 5G monetization, it is important to understand that 5G is not a product but a technology. Therefore, 5G technology can't be monetized per se. Instead, it only enables new products and services to be built around it. Telcos must seek new revenue streams by offering innovative cloud-based services and go far beyond offering just generic connectivity. With IoT and the right partnerships, a whole new area of potential customers in the B2B and B2B2X segments is emerging. With 5G, CSPs must avoid repeating the 4G scenario, where they implemented a new technology but, in the majority, failed to monetize it properly. The key to 5G monetization lies in three critical aspects, consumer education, diversification, and pricing. Customer Education about 5G The key to monetizing 5G products is called consumer education. It applies to all business models, no matter if they are Business to Consumer (B2C), Business to Business (B2B), or Business to Business to Any (B2B2X) oriented. The consumers must understand all the benefits of 5G and the product or service they are being offered. Most importantly, they shouldn't get the assumption that 5G is "just a faster version" of 4G. The industry has done many studies on the willingness of customers to pay extra for premium 5G services. They all have one thing in common. After being thoroughly briefed about the advantages of the offered 5G service or product, more than 50% of participants expressed the willingness to pay extra for it. A study from Nokia found that 80% of consumers familiar with 5G find the technology appealing. Because they know it, they are willing to pay more for it. On the other side, of those unfamiliar with it, only 23% showed interest in 5G. Diversify Yourself Another key to successful 5G monetization is diversification. Telcos must diversify themself and their offerings to avoid pricing wars. Instead of just selling 5G connectivity, they must focus on specific customer experiences. To create additional revenue streams, they must develop products that enhance user experience and use the potential of 5G technology. An excellent way to do that is by forming partnerships with companies that offer high-quality products made better by 5G. Telcos will act as a "wholesale" connectivity provider while partners market their catalog of products and services. Telcos must look for partners with strong brands and good customer relationships. Strong brands enjoy higher trust levels, so they are better positioned to persuade customers about the benefits of 5G and why to pay extra for it. Best matches are partners that offer products like multiplayer cloud gaming, video streaming, augmented reality products like sports streaming, and more. Less traditional but interesting partners for Telcos are producers of "smart devices" or IoT. Producers of home security products, sports equipment, home appliances, various gadgets, and home entertainment are increasingly adding "smart" features to their products. Of course, all of them can immensely benefit from 5G technology which telcos can directly embed into their apps and devices. 5G Monetization Strategy and Pricing As seen from various customer surveys, customers are extremely price-sensitive when it comes to the question of paying extra for 5G technology. The first step for Telcos and any others offering 5G services and products will be to explain to consumers why they should pay extra for "premium" 5G connectivity. After that, it's all about pricing or, better said, personalized offers. Consumers generally are satisfied with their current fixed broadband and mobile connectivity. Therefore they will need a good reason to pay extra for a faster fixed and mobile data connection. However, most expressed the willingness to pay extra, but only from 5% to 10% of what they are paying now. For Telcos, that may not be enough to justify the immense investments in the 5G network. To monetize on 5G properly, they must adopt different 5G pricing strategies and create personalized offers. Network Slicing as a Pricing Solution By enabling network slicing, telcos can discard the traditional one-size-fits-all model and offer different plans to customers that share the same physical infrastructure. As explained before in the example of live broadcasts, 5G networks can offer different quality of service (QoS) to users sharing the same physical network with network slicing. Network slicing enables telcos to implement so-called "speed tiering." In theory, each user could create his own custom plan according to his requirements. That means he could directly decide what he needs and how much he will pay.But for Telcos, creating offers and pricing doesn't end here. They need to offer the clients the possibility to upgrade their network performance on demand if they suddenly need to. For example, if a customer is in a situation where he needs a temporary performance boost, he can simply turn on a "premium feature." This introduces a pay-per-use model, which is different from the standard monthly subscription we are used to now. This means a move away from standard subscriptions and tiered pricing toward flexible and personalized plans. With 5G and network slicing, there are almost no limitations to creativity in pricing and 5G monetization business models. That is, of course, if Telcos has the suitable charging and billing software to support it - something we will discuss later. Challenges of 5G Rollout Strategy After all the planning and deciding on a business plan and monetization strategy, it is time for a 5G rollout. But the 5G product rollout demands a strategy of its own. Place and Time With a 5G product rollout, selecting a place (market) and time is crucial. Even though 5G offers many benefits, selling a fixed broadband service in a market with a good cable connection will take a lot of work. Also, conservative markets are probably not the best place to expect fast results for new technology. Telcos must be realistic about consumer needs and willingness to pay for new technologies. Be in it on the long haul. The rollout of 5G will likely be prolonged due to a lack of consumer interest. Take the time and appropriate steps to develop reasons/hooks to accelerate 5G adoption. Costs and Investments Rolling out 5G infrastructure and networks requires significant investment. Therefore, Telcomms must carefully plan and budget for these costs, including upgrading existing infrastructure, acquiring new spectrum, and deploying new base stations. The cost of developing and implementing new 5G-enabled products and services must also be considered. Device Availability There is a limited number of 5G-enabled devices on the market. This fact will play a major role in the 5G rollout in the future. Maybe mobile phones support 5G, but many other devices don't. That is why device availability can play a crucial role in the speed of 5G adaptation. Security & Trust As with any new technology, security, and trust are major factors in decision-making. Telcos will need to demonstrate high security and capability to get the trust required for customers to take the next step and adopt this new technology. Regulatory Challenges Regulatory challenges can also impact the rollout of 5G networks. Telcos must know and navigate different market regulations and comply with local laws. It can be a complex and time-consuming process affecting the rollout's speed, costs, and success. Competition Competition is always a factor to consider, and Telcos must be aware of the competition in the markets where they operate. They must develop strategies to differentiate themselves and attract customers. With 5G, the strategy includes developing unique 5G products and services and differentiating on factors such as customer service, pricing, and network coverage. Monetization is Only Possible with a 5G Billing System Even without 5G, the telecommunication industry already needs a capable and advanced billing system. Probably the most advanced one of all major industries out there. In fact, there are only a few enterprise-level telecom charging, billing and revenue management platforms on the market capable of supporting the operations Telcos are handling today. However, the selection will become even narrower if we look at the new 5G opportunities, strategies, and 5G business models. Public Cloud BSS 5G Monetization Systems Benefits Moving an on-premise BSS to the public cloud does not qualify as "cloud-native" or give significant benefits. Quite the opposite, such a shift can result in increased running costs in many cases. The true strength is in a ready-to-use public cloud-based BSS solution and its benefits. Streamlined Implementation and Reduced Time-to-Market Choosing a public cloud BSS solution eliminates the need for a long implementation process and reduces the time it takes to bring new services and products to market. Innovation Public cloud BSS providers are at the forefront of innovation. We bring you new features and functionalities faster than traditional on-premise BSS solutions. Advanced Technologies Use machine learning, artificial intelligence, big data analytics, and the Internet of Things (IoT) to enhance offerings and improve customer experiences. These technologies allow providers to analyze vast amounts of data in real-time, make informed decisions, automate processes, and provide personalized experiences or predict customer behavior. Scalability Public cloud BSS is easy to scale up or down according to changing business needs. You only use what you need! Cost-Effectiveness Eliminate the need for large capital expenditures and reduce the costs of maintaining and upgrading hardware and software. Flexibility A public cloud BSS can be accessed from anywhere, making it ideal for organizations with multiple locations and employees working remotely. For example, Tridens Monetization runs on AWS (Amazon Web Services) public cloud. Reliability & Maintainance Enjoy high availability and reduce downtime. Let your provider handle all the maintenance and upgrades and free your IT teams to focus on other tasks. Security The public cloud BSS providers invest heavily in security measures to protect customer data and reduce the risk of security breaches or data loss. As 5G networks become operational, businesses that have deployed Converged BSS and Online Charging Systems (OCS) will be better positioned to monetize on the opportunities that 5G offers. Benefits of Converged BSS and Online Charging Systems (OCS) Converged BSS and Online Charging Systems (OCS) offer several benefits for communication service providers (CSPs) and 5G monetization. Improved customer experienceConverged BSS and Online Charging Systems (OCS) provide customers with up-to-the-minute information on their usage and charges, which improves their overall customer experience. Increased revenueBy implementing Converged BSS and OCS, CSPs can monetize new services and use cases enabled by 5G technology, such as IoT and edge computing. Enhanced flexibilityConverged BSS and Online Charging Systems (OCS) allow CSPs to quickly and easily launch new services and pricing plans, which can help them stay competitive in the market. Improved efficiencyConverged BSS and OCSs can automate many processes involved in billing and charging, reducing administrative costs and improving overall efficiency. Better control over revenueConverged BSS and Online Charging Systems (OCS) provide CSPs with detailed usage and revenue data, which can help them better understand customer behavior and optimize their revenue streams. Benefits of Cloud-native Architecture for 5G Monetization Systems 5G cloud-native architecture is a key enabler of 5G monetization. It provides 5G operators with the ability to launch new services quickly and offer service bundles and flexible pricing plans. Therefore, 5G cloud-native architecture will significantly drive 5G revenues in the next years. Cloud-native architectures are designed to be elastic, scalable, and easy to deploy. Additionally, cloud-native architectures can provide the flexibility needed to support multiple 5G use cases. For example, a service provider could offer a low-latency gaming service in one area and a high-speed video streaming service in another. By adopting a cloud-native approach to 5G, service providers can tap into the full potential of 5G and deliver innovative new services that meet the needs of their customers. In doing so, they can stay ahead of the competition and generate new revenue streams from 5G. Extreme Performance with High Throughput and Low Latency In 5G billing systems, extreme performance is achieved through the combination of high throughput and low latency, enabling rapid and reliable processing of customer transactions. High throughput is the ability of the system to process a large volume of transactions quickly. Low latency refers to the time it takes the system to respond to a request. To achieve extreme performance in 5G billing systems, the software is optimized to minimize processing overhead and reduce response times. Implementing advanced algorithms, such as sharding and indexing, is also used to improve performance by reducing the amount of data that needs to be processed for each transaction. What means No Code, API First Design, and Why it's Important? No code design enables people in the business functions to apply changes to the software with no coding required. By doing so, it allows faster iterations and significantly accelerates time-to-market. It also reduces the time, risk, and costs of experimenting and implementing new business models or processes. REST API-first design enables seamless integrations with other systems and services. It makes the system more flexible, efficient and secure, and above all, it improves scalability. Together, no code and API first design can significantly speed up development and make it more flexible and efficient. It is particularly important in a 5G billing system because 5G technology is expected to handle many connections. Why is Convergent Charging essential in 5G Billing? Converged charging (also referred to as consolidated billing) allows service providers to simplify their billing and charging systems, improve efficiency, and offer more flexible pricing options. In the past, standalone rating and charging systems were used for different types of services, such as voice, data, and SMS, but this approach no longer works in the 5G era. The converged charging system uses real-time data from network elements and service usage records to calculate the charges for different services. At the end of the billing cycle, these charges are used to generate a consolidated invoice. To do so, the convergent BSS incorporates advanced usage-based pricing and enables complex pricing offers with the bundling of services or promotions. Converged charging and billing streamlines the billing and charging process for 5G services, improves efficiency, reduces costs, and provides a better customer experience. Tridens Monetization as the Solution to 5G Monetization Many solutions promise they can handle 5G monetization. However, finding one that fits your specific needs and requirements is the key. Before selecting one, one must look at it carefully, especially regarding scalability and the ability to handle enterprise-level volumes of data. With the right telecom billing solution in place, telcos can fully unlock the potential of 5G and reap the rewards.