Growth of 5G mobile, IoT, and Consumer Hunger for Digital Experiences are Creating New Business Opportunities that Require Intelligent Monetization Technology
AUSTIN, Texas (September 24, 2019) – Gotransverse (www.gotransverse.com), a leading provider of enterprise quote-to-cash solutions, is working with more Communication Service Providers (CSPs) that provide telecommunication services including voice, broadband, and content to help them develop new business models to capitalize on 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; monetization strategies that only can be realized with an intelligent billing platform such as Gotransverse.
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.
In addition, 5G mobile networks enable CSPs to connect more devices simultaneously 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 as well.
Monetizing these new services presents an ongoing challenge to CSPs, mostly because their 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, communications 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 going to replace existing revenue management systems as CSPs diversify their offerings and adopt new recurring pricing models that are scalable and configurable to support new services.”
The Gotransverse intelligent billing platform is specifically 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 mobile telecom services, Gotransverse offers a number of advantages, including the ability to test subscription and usage-based pricing models like prepaid, tiered, prorated, multi-variable or any combination. It also reduces costs related to manual processes and generates rich data for accurate predictive modeling.
To learn more about trends in the mobile telecommunications market, 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.
About Gotransverse
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. Gotransverse was founded in 2008 and is headquartered in Austin, Texas.
For more information, visit http://gotransverse.com.
Press Contact:
Tom Woolf
Gotransverse
415.842.7398
twoolf@gotransverse.com