What is a digital BSS?
The digital BSS includes the components of a telecommunications company that are used to run its business operations with customers.
In telecommunications, Business Support Systems (BSS) is both the software and all the processes that are necessary for the back-office functionality. For a telecom operator, BSS scopes include the management of audience ratings, orders, products, billing, fraud, and customer relationships. Besides, revenue assurance and business intelligence are also included.
The BSS offers the ability to deal with customers to companies. Moreover, processes such as collecting payments, receiving orders, and processing invoices are also a part of BSS.
These tools allow a company to connect with its customers in many different ways. For example, CRM (customer relationship management); creating offers for them as products and services; issuing invoices to customers, and carrying out transactions between operators.
5G success will require BSS innovation:
Many operators are aware that 5G success depends on their BSS (Business Support System) and on innovating their own business models.
5G is a transformational customer experience with improved speed, connectivity, network coverage, interoperability, and more. Enabling faster speed and connectivity, fast service creation and monetization, and differentiated partnership models for new revenue streams will be a must for operators.
According to a report by Zion Market Research, the global digital BSS market is expected to reach approximately 7,416USD by 2025, at a CAGR of approximately 15% between 2020 and 2025. And the OSS / BSS market is set to grow from its current market value of over $ 35 billion to $ 90 billion by 2026; as reported in the latest study conducted by Global Market Insights, Inc.
It is very important to mention numerous advantages of operators with digital BSS:
Fast and phased deployments:
A truly modern digital BSS is modular, cloud-native, and virtually deployed. In addition, it’s possible to implement it in phases.
Accelerated monetization of case usage:
A 5G-ready digital BSS platform enables operators to quickly monetize the data network with innovative and personalized offers, enhancing subscribers’ digital experience.
Centralized catalog management:
With 5G it will be challenging for CSPs to support new business models and case usage on the fly without expensive and time-consuming changes to backend code. A digital BSS platform with a centralized product catalog helps CSPs to respond quickly to network developments.
Improved customer management:
With digital CRM, operators can implement automated workflows, speed up sales and support, and use chatbots and AI to reduce manual CSR workload.
Efficient revenue management:
Operators need real-time billing and policy control capabilities to take advantage of and monetize the opportunities provided by all-IP networks.
Improved partner management:
A digital BSS with an integrated partner management platform helps improve operational agility by optimizing the partner life cycle.
Automated omnichannel support:
Through web, mobile and social media platforms, fast problem resolution is guaranteed, and customers will feel more connected and valued. The most recent additions to this trend are WhatsApp, iA and NLP chatbots for instant resolution of customer inquiries.
At last, a recent TM Forum study reveals that 72% of CSPs (IT & Telecom Component Distributors) believe that 5G revenue growth completely depends on the transformation of their BSS and OSS.
However, digital transformation is beneficial even before 5G is rolled out: a strong BSS allows implementation and monetizing of essential 5G case usage on previous generation networks. Want to know more? Check out our post about The impact of 5G on digital transformation.