IoT is not a predictable business. Today’s IoT use cases are driven by a business case, not the consumer. For these uncertain and exploratory times, service providers need a flexible platform from a partner who can respond quickly and efficiently in this disruptive market.
Yet many service providers are trying to support these new technologies and business models with inflexible legacy billing systems. What they really need is an innovative billing provider who has a clear understanding of the use cases and economic drivers of the M2M/IoT world.
A New Way of Thinking from LogiSense
Successful billing solutions will manage the complexities that arise from IoT billing in order to:
- Capture new revenue – evolve business models from simple subsidies and flat subscription services to more sophisticated bundles
- Reduce barriers to entry – enable sales to personalize offerings and better manage the enterprise customer experience – as to not leave potential profits
- Eliminate billing errors – generate clear, concise, and accurate invoices for a customer with thousands to millions of network active devices sharing usage from a single rate plan
- Enable split billing – a single source of data to serve multiple applications and accounts
- Move up the value chain – provide single account solutions that support multiple verticals
- Enable end-to-end customer lifecycle management – integrate seamlessly into existing IoT mobile device management platforms and customer care solutions
A service provider’s core competency lies in building and managing communications networks. In addition to supporting robust networks, connection management and provisioning, service providers are experts in billing and customer care services.
Service providers who can include both billing and customer care capabilities in their enterprise service offerings, will be able to provide a point of differentiation that will truly make them the single point of contact to the enterprise.