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Why IoT and OTT Services Need to Evolve to Accelerate Telcos

Why IoT and OTT Services Need to Evolve to Accelerate Telcos

As the pace of change accelerates in the Telecommunications industry, Telcos need to up their game. Traditional offerings that use outdated technology and approaches need to pave the way for advanced solutions that enable players to deal with the many uncertainties that come their way. 

IoT and OTT services can empower Telcos with innovative and easy-to-use communication services while enabling them to offer services to customers at a much lower price. 

The Challenges with Traditional Offerings for Telcos

With the number of digital customers expected to skyrocket globally, the demand for digital platforms for communication is set to surge over the next few years. 

At the same time, as consumer behavior regarding traditional communication services changes, new players enter the market, and new technologies advance, the challenges with traditional offerings for telcos are many: 

Why IoT and OTT 

The increasing number of companies entering the core telco market with innovative business models and technologies are introducing many challenges to Telcos with traditional offerings. 

IoT and OTT services empower Telcos with the capabilities they need to efficiently manage every aspect of their business operations: from partner management to billing, invoicing to product bundling, revenue management to customer management, and more. 

McKinsey estimates that IoT’s potential economic impact on factories will rise to as much as $3.7 trillion a year by 2025. 

With IoT and OTT, Telcos can

Capitalize on the IoT and OTT opportunity 

As digital proliferates the telecom industry, existing telcos find themselves struggling to drive revenue. Achieving YoY profits using traditional offerings in an environment that is fast-growing and expanding is almost impossible. 

Building your own IoT and OTT services, partnering with existing players, or offering value-added IoT and OTT services are some ways to overcome these many challenges. They need to leverage the benefits of a unified billing ecosystem, real-time multi-party settlement, efficient commission management, and hybrid master catalog. 

The OneBill Benefit

Cloud billing software company “OneBill” has over a decade of experience in pioneering and building cutting-edge revenue management solutions, enabling global Tier-1 organizations to efficiently manage billions of dollars in revenue. 

In particular, OneBill’s Multi-Level Channel Management (MLCM) module offers the necessary building blocks to effectively manage business in the world of IOT, OTT and other multi-vendor/partner ecosystem.  Some of the key features of the module is listed below:

Take a tour of the OneBill platform today.

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