For many businesses and consumers alike, it feels as though we’re still wrapping our heads around 5G and the extent of its capabilities. And yet, already, 6G is just around the corner, expected to enable more IoT technology to make us smarter and more connected than ever before.

While the disruptive technologies—from 5G and 6G to IoT, streaming, and OTT services—that drive innovation in telecommunications are enabling new business models, the reality is that innovation is worthless without a monetization strategy. And given the speed of disruption, businesses can often feel like, the minute they get their billing caught up to the latest wave of innovation, they’ve fallen behind again.

Enter Gotransverse’s brand new e-book: Futureproofing Your Billing System for Emerging Telecom Services.

In it, we break down the current state of the telecom market and explore how telco businesses can leverage a sophisticated billing foundation in response to today's needs and prepare for future innovation. We’ll share some highlights here, and we encourage you to download the full e-book to learn even more.

The Telecom Market Today

Between the rise of the sharing economy, the massive acceleration of digital experiences during the pandemic, and the proliferation of new service models made possible by big data, IoT, and AI, telcos have a steeper climb than ever to remain competitive. Suppose universal computing took us into the information age in the 1990s. In that case, we're now moving into the "Coordination Age," focusing on connecting people, computers, and things to make resources more readily available and efficient. This new age is driven by collaboration, and telcos are at the center of those interactions.

Business Operations, Reimagined

MarketersMedia expects the global telecommunications market to be valued at $29 billion by 2026, but it won't achieve that kind of growth by following the business as usual playbook. Instead, according to McKinsey, “The next generation of telcos will be defined by leaders who act now, risking short-term advantages to seize untapped growth with a holistic approach to transformation.”

In our e-book, we explore three key trends that will be driving the evolution of telco business operations in our post-pandemic world:

1. A move from selling services to selling outcomes
2. Analytics at the heart of growth
3. A rise in service bundles

And we also outline three archetypes—infrastructure excellence, service-centric operations, and ecosystem providers—that promise to provide competitive operating models for telcos.

In addition to these archetypes, we can expect to see more industry marketplaces offering telecommunication services, following the success of B2C models like Amazon, Overstock, Etsy, and other B2C marketplaces. With more B2B buyers gravitating to self-service in the same way individual consumers have for years, B2B2X markets will continue to emerge for buyers seeking new telecom solutions.

Billing as a Foundation for Innovation

“As new technologies and market innovations continue to shape telecommunications, billing will continue to serve as a focal point for new business models,” says Gotransverse Founder and CEO James Messer. “To stay competitive, telecommunications providers will need to invest in new billing systems that are agile, open, and scalable.”

To put a blunter point on what Mr. Messer is saying here, traditional telecom billing models are outdated. To accommodate the industry's new realities—from self-service to additional service partners to customized services and more—telecom companies must embrace models that offer the flexibility and extensibility required to take advantage of new business opportunities.

Our e-book breaks down the critical market drivers of the telecom evolution and the billing challenges (and solutions).

Automated Everything

As services become more diversified and complex, the only way to handle billing is with automation. Manual spreadsheets and systems may be fine for businesses in their infancy, with simple billing models and a low volume of customers. However, human error starts to creep in at the first sign of complexity, leading to delays, paper jams, and unhappy customers. And, at this point, no analog system could keep up with the ever-evolving, ever-growing demands on billing operations.

With automation, however, the billing infrastructure—and all the workflows it comprises— becomes adaptable and salable, from the initial quote to revenue recognition. The result: unprecedented scalability, transparency, accuracy, and insights that empower growth (no matter what the market does next).

Tracking Success

Finally, companies offering simple, straightforward business models such as one-time purchases or perpetual licensing can use simple, direct metrics in their financial reporting. But for modern telecom companies, tracking performance is a little different, requiring a new set of indicators—and a billing system that can surface these metrics—to ensure they're on the growth path.

Ready to Futureproof Your Telecommunications Business?

Download our full e-book for in-depth insights into what it takes for today's telecom companies to convert their pricing and billing strategies from obstacles into competitive advantages. Then, when you're ready, we invite you to take a tour of Gotransverse’s cloud-native platform, designed to scale to meet the current and future needs of growing businesses.