The evolution of telecommunication networks in the last few years is fascinating. We are in an era of digitization where cutting edge technology like 5G is going to be in demand. The business support systems (BSS) have to play a massive role in delivering 5G technology to the end-users.
Enormous volumes of data need to be processed, analyzed and translated into ways to improve the customer experience. To meet up the challenges with coming 5G technology, the BSS needs a complete digital transformation.
Well, the future 5G technology is going to change a lot of things. One can say 5G as the media for the evolution of other exciting future technologies.
How 5G will take over? Simple answer – The rapidly improved network connectivity. 5G will provide a combination of high speed and low latency and high capacity that will provide choices to the Communications Services Providers (CSPs) to provide diversified network solutions to the end-users.
While most of the CSPs are in the process of deploying 5G related solutions, many of them may be not looking at another imminent facet of 5G network- The business support system (BSS) that will allow them to profit from innovative new services.
How 5G will impact BSS
BSS, or business support systems, are the back-office processes and systems that enable a company to function. They include things like accounting, human resources, customer relationship management (CRM), and supply chain management.
The deployment of 5G will have a profound impact on BSS. The most immediate impact will be increased speeds and capacity. With 5G, businesses will be able to move more data faster and handle more concurrent users. This will lead to increased efficiency and productivity gains.
Another significant impact of 5G on BSS will be its ability to enable new applications and services. For example, with low latency and high reliability, businesses will be able to offer real-time services such as virtual reality and remote surgery. This opens up a whole new world of possibilities for how businesses can operate and serve their customers.
Future Ready Digital BSS for 5G Monetization
Is your BSS Ready for 5G Monetization?
5G will bring multiple types of new services with different characteristics which provide huge opportunities for the Communications Services Providers to monetize, especially in the B2B sector.
To cater 5G services the legacy BSS has to be advanced into a completely digital business transformation.
5G Challenges for BSS
- Automated Service Management
- Complex Service Level Agreements
- Customer Satisfaction
- 5G Monetization
The upfront 5G challenges of the digital transformation of BSS include the automation of current service management, monitoring and achieving complex SLA, customer satisfaction challenges and the key will be ways to optimize the 5G solutions for monetization.
According to a recent study conducted by TM Forum, 72 percent of CSPs believe that 5G revenue growth is dependent on transforming their BSS and operations support systems (OSS).
In other words, those CSPs who only focus on deploying network equipment will fail to reap the rewards of 5G technology. The business and operation support system needs revamping to achieve greater success in 5G revolution.
5G monetization can only be achieved through digital BSS transformation, virtualization, cloud-based programs and the internet of things. The CSPs must be ready to transform their BSS if they are to rate and bill for a new launch of services and ensure that BSS infrastructure should support whatever 5G business opportunities are coming their way.
The CSPs are required to realize the importance of transforming the legacy BSS to digital BSS to provide the best possible services to the end-user.
5G is going to create immense opportunity to move the services from wire-line to wireless networks and it will serve as a wake-up call for CSPs to assess and evaluate digital BSS readiness.
CSPs that ignore the BSS transformation will experience a definite delay in future service innovation.
5G and the digital transformation of BSS
5G is the next generation of mobile broadband that will provide speeds up to 10 times faster than 4G. 5G will enable new services and applications such as ultra-high definition video, virtual reality, augmented reality and the internet of things. The digital transformation of BSS is an important part of 5G. BSS includes the systems and processes that support customer relationships, service delivery, billing and payments. The digital transformation of BSS will enable operators to offer more personalized and differentiated services to their customers. It will also allow operators to manage their networks more effectively and efficiently.
The benefits of 5G for BSS
5G is the next generation of mobile internet connection, offering faster speeds and more reliable connections. For businesses, this means 5G can provide a major boost to their bottom line by increasing operational efficiency and improving customer experiences. Here are five ways 5G can benefit businesses:
1. Increased Speed and Capacity: 5G offers vastly increased speed and capacity compared to 4G LTE, meaning businesses can run more data-intensive applications without worrying about slowed down connections or dropped calls.
2. More Reliable Connections: 5G also offers much more reliable connections than previous generations of mobile internet, meaning businesses can rely on 5G for mission-critical applications that need to be up and running at all times.
3. M2M Communications: 5G will enable more machines and devices to connect to each other using M2M (machine-to-machine) technology, and also offer higher quality connections between these devices.
According to IDC, smartphone challenges will be there in 2019 but 5G and the emerging markets will bring back to the market by 2020. With the advent of digital technology companies are looking out for a faster time to market at a lower cost and to achieve this 5G will be a key technology.
A next-generation BSS must be able to support the high bandwidth and low latency requirements of 5G. It must also be able to manage the extraordinary number of devices that will be connected to the network.
The Consumer Service Provider companies have to be strategic with their BSS integration plans and with this they can successfully monetize 5G and BSS together.
Thank you for spending time in reading this article. To know more about 5G you can checkout our blog on everything you need to know about 5G.