Top 7 Features of Telephone Billing Systems: 2020 Guide
Telephone billing is a very sensitive aspect of your business.
Whether you are a large provider, medium-sized business or a start-up, if your billing is inaccurate, your customers will not be pleased with all with you from complaint calls to flooding the internet and your website with bad comments.
A bad reputation will no doubt minimise the chances of beating your competition.
Not to worry though, with the right telephone billing system for your business, your customers will be satisfied, and your venture will thrive.
What’s in this guide?
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Do you want to know why a telephone billing system is essential for your business? Then keep reading to certainly find out.
What is The Definition of Telephone Billing System?
A phone billing system is a process of gathering consumption data, calculating billing and charging information, availing customer bills, processing the customer payments as well as managing collection of debts.
So, with the help of a telephone billing software, the phone billing system is automated helping you to not only improve accuracy but also significantly reduce costs.
Consequently, it assists you to manage your billing operations.
What are The Important Features of a Telephone Billing System?
- Billing and rating
All data that is called related is converted to a monetary value; invoices are then generated according to the monthly plans.
The data is finally stored in a repository that is centralised.
So, this generates various reports including network activity, financial, management, and reconciliation reports.
- Interface management
Manages the entire life-cycle of different customer communications such as outbound communications and conversations that are customer-initiated.
- Discount Applications
Also, discount schemes are applied to your invoices.
- Processing and ePayments
So, this allows processing of customer payments either offline or online and records these payments to the customers’ accounts.
- Inter-carrier settlements
Helps to determine how much revenue is shared between the various providers and enables you to make the necessary changes in the billing process.
What Concepts are Related to Telephone Billing System?
|Guiding||Matches calling tariffs with customer’s calling records|
|Mediation||Collects and validates call data using network devices such as switches|
|Billing||Compiles and calculates the following in the system for 30 days:|
|Bill Cycle||Customers segmented into batches and billed separately in different bill cycles|
|CDR (Call Detail Records)||It has a specific call’s billing information. Some of its major constituents are:|
What Are the Advantages of a Telephone Billing System?
- Reduces recharging administrative costs as a result of carrier bills.
- Exceptional costs are highlighted thus allowing enlightened cost reduction measures to be taken.
- Also, daily emails are automatically sent to users to remind them of their thresholds for trunk capacity, call duration and lost calls.
- Saves on resources by identifying idle and redundant equipment.
- Tracks misuse and fraud thus avoiding unwanted costs.
- Traces calls using telephony system to find out why certain calls are either abandoned or lost.
- Scalable, secure and reliable.
- Increases profitability.
- Provides billing solutions that are perfect for your business.
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What Should an Efficient Phone Billing System Identify?
It should be able to identify:
- The amount that you are using/spending
- Overall performance level
- Areas that need improvement
So, given the information above, you should be able to find ways of minimising costs while still ensuring you receive quality service.
What Does A Telephone Billing System Entail?
- Call data collection
- Storing the data collected in the customer database
- Calculating call charges including additional charges
- Processing of the various bills
- Generating invoices
- Sending invoices to the respective customers
What is the cost of a Phone Billing System?
So, the cost will depend on the size of your business. The following is an estimate of a telephone billing system
|Monthly Fees- Threshold Based (Starting From)||£750||£350||£125|
|Customer Base (Guideline Only)||Unlimited||Up to a max. of 300||Up to a max. of 100|
|Total Billable Outputs-Monthly (Guideline Only)||Unlimited||Up to a max. of £25k||Up to a max. of £10k|
What are The Benefits of a Phone Billing System?
So, some of the benefits of using a telephone billing system are as follows:
- High Accuracy
It tremendously improves the accuracy of your billing system while reducing significantly the errors.
It is possible to deliver 100% error-free bills to your customers when using the telephone billing system.
- Itemized Bills
Consequently, you will be able to provide comprehensive bills to your customers such as outgoing calls among other details.
- Duplicate Checking
So, having a telephone billing system will ensure that it will remove duplicate records.
This eliminates any redundancy in your system.
Also, the system will detect fake information provided such as a false social security number.
- Availability of Information
In a situation where your customers have queries or questions, you will be able to quickly and quickly avail the information needed by the customers thus improving your customer service and at the same time increasing customer retention.
- Easy Implementation of Tariff Changes
Your tariff rates might fluctuate every other time due to some reasons.
A cutting-edge phone billing system will ensure that you can implement changes in your tariff rates.
- Paperless Bills
In this era of environment conservation, these smartphone billing systems have adopted e-bill statements.
This also saves on paper, printing, or bill distribution and cuts costs for your business.
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Finally, with our experience in the telecom industry and our well-established relationships with the key players in the market; we have amassed a great deal of information.
Also, we pride ourselves in using our experience and extensive knowledge to offer you the best and customised telephone billing system solutions for your business.