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AUSTIN, Texas, Sept. 24, 2019 (GLOBE NEWSWIRE) -- Gotransverse (www.gotransverse.com), a leading provider of enterprise quote-to-cash solutions, is working with a growing list of Communication Service Providers (CSPs) to rapidly introduce new services around emerging technologies such as 5G and IoT. More CSPs are creating updated service bundles and developing consumption-based pricing to monetize 5G mobile broadband services. These new services require monetization strategies that only can be realized with an intelligent billing platform such as Gotransverse and with a much better time-to-market and ROI than their legacy billing vendors.
According to Deloitte, consumer demand for mobile data continues to boom as more households embrace streaming services and data-heavy applications. In 2019, 37 percent of consumers have unlimited data plans, up from 25 percent in 2017. At the same time, 55 percent of households subscribe to paid video streaming services while paid television fell to 63 percent, down from 75 percent last year.
Demand for mobile bandwidth is expected to grow dramatically with the adoption of 5G, which promises 20 gigabit-per-second wireless throughput with zero latency. Respondents to Deloitte’s mobile consumer survey revealed that 60 percent say 5G is “important” to them, and that number rises to 80 percent for those who use smartphones to stream videos. 5G is also expected to drive adoption of new augmented reality (AR) and virtual reality (VR) applications.
5G mobile networks enable CSPs to connect more devices simultaneously and dramatically higher speeds to support smart devices, the Internet of Things (IoT), and smart cities. While applications such as connected cars and connected homes continue to increase, wireless services will increasingly support mHealth applications for wearable devices and mPayments for smartphone financial transactions.
Monetizing these new services presents an ongoing challenge to CSPs, mostly because their legacy billing systems can’t handle the sheer volume of transactions or adapt to the required recurring subscription, and usage-based models. As explained about position and adoption speed justification in a recent Gartner report:
“Recurring revenue as a business model for voice services is mature and well-established in the communications industry. Recurring revenue management (RRM) continues to gain traction among communications service providers (CSPs) because it supports digital services independently of existing customer care and billing systems. It is becoming increasingly important for digital services — including the Internet of Things and machine-to-machine — to provide enabling activities such as multitier pricing, multiple revenue streams per customer, service and product bundling, usage caps, entitlements, personalization, cross-product discounts, and promotions. Many existing revenue management and billing systems cannot handle RRM for digital services, or dynamically combine voice and data subscriptions.” (Gartner, Hype Cycle for Communications Service Provider Operations, 2019, Amresh Nandan, July 11, 2019)
“With new technologies such as 5G, companies run the risk of letting digital transformation outpace revenue and business processes,” said James Messer, founder and CEO of Gotransverse. “To stay competitive, carriers and service providers need to be able to embrace new pricing models. Cloud services platforms such as Gotransverse are replacing existing revenue management systems as CSPs diversify their offerings and adopt new recurring pricing models that are scalable and configurable to support new services with a dramatically reduced time-to-market. ”
The Gotransverse intelligent billing platform is designed to enable flexible, dynamic pricing. Developed as a native cloud solution, Gotransverse is elastic to handle an unlimited volume of transactions, and it can handle complex rules for flexible pricing that improves customer satisfaction and optimizes revenue. For applications such as subscription or ad hoc pricing for telecom services, Gotransverse uniquely enables the ability to test subscription and usage-based pricing models with combinations of prepaid, tiered, prorated, and multi-variable models at scale. It also reduces costs related to manual processes and generates rich data for accurate predictive modeling.
You can download a copy of Gartner’s Hype Cycle for Communications Service Provider Operations, 2019 at https://billing.gotransverse.com/lp/gartner-hype-cycle.html.
Gotransverse provides cloud-based software that enables companies in any industry to operate as a subscription business model, including the often-challenging aspects of usage-based pricing and monetization at massive scale. Founded by globally recognized billing experts, the company offers an intelligent billing and subscription management platform that automates the subscription quote-to-cash process, including billing, rating, collections, mediation, analytics, and revenue recognition. Founded in 2008, Gotransverse is headquartered in Austin, Texas with additional operations in EMEA and APAC.
For more information, visit http://gotransverse.com.