New architectural approach enables service providers to retire legacy billing systems by unifying critical monetization features
FOSTER CITY, Calif.–(BUSINESS WIRE)–#5G—MATRIXX Software, a global leader in converged charging and monetization, today unveiled its digital monetization solution, transforming the traditional Business Support Systems (BSS) architecture and enabling service providers to retire legacy billing systems and processes. Leveraging the TM Forum’s Open Digital Architecture, MATRIXX is delivering monetization based on a modern digital business architecture enabling new use cases that existing billing and charging systems cannot support. Built to operate in a multi-vendor landscape, MATRIXX Software’s digital monetization solution solves the challenges of inflexible, costly, siloed billing platforms and processes that plague telcos.
“Digital monetization is more than just a technological advancement; it’s a business imperative for service providers looking to innovate, compete and grow,” said Marc Price, CTO at MATRIXX Software. “Our solution empowers service providers to achieve a deeper level of engagement with customers, harnessing real-time insights and unparalleled agility, laying the foundation for new services that will define telco’s future.”
Traditional telco billing models consist largely of siloed systems that require ongoing development and costly integration, which are unsuited for rapid innovation in the digital era. In contrast, digital monetization unifies all rating and charging, offline and online, for usage and non-usage charges. MATRIXX assures that critical monetization functions are composable and reusable for all services, customers and payment types so that unnecessary silos can be eliminated, resulting in simplified, streamlined operations. It also performs all functions in real-time so that customers have full transparency across all services and spending, along with the ability to pay how and when they want for various services without having to wait for a bill.
Forward-thinking service providers have retired the functions of postpaid billing systems that most frustrate their customers. Companies like Telstra, Verizon and Orange are evolving to digital-centric offerings to eliminate customer confusion and provide accurate and transparent billing information at all times. A digital monetization approach enables service providers to eliminate many of the billing issues that arise from traditional siloed and disparate rating processes. In recent research conducted with STL Partners, the majority of service providers interviewed reported that up to 30 percent of call center inquiries were related to billing issues, with some putting the figure as high as 50 percent.
Key Benefits of MATRIXX’s Digital Monetization Solution:
- Real-Time Insights: Immediate charge calculations for an unparalleled level of transparency and control
- Faster Revenue Collection: Streamlined processes that expedite billing cycles, leading to quicker cash collection
- Simplified Architecture: Unification of pricing data for consistency and accuracy, reducing reliance on catalog synchronization
- Increased Competitiveness: Ability to monetize for anything, ensuring readiness for the new business models as cloud, edge and 5G SA services evolve
Aligned with TM Forum’s Open Digital Architecture, MATRIXX Software’s digital monetization solution marks a significant stride in the industry’s evolution. It provides a path for service providers to transform from legacy BSS to a digital business architecture based on convergence, composability and cloud native principles. At the forefront of the digital business architecture evolution, MATRIXX transforms a service provider’s environment where all monetization functions are unified and reusable, delivering real-time revenue and creating an agile, growth-centric business.
“MATRIXX Software’s digital monetization is a standout example of the industry’s shift towards a digital business architecture,” said George Glass, CTO at TM Forum. “Its alignment with TM Forum’s Open Digital Architecture represents a significant step forward, embodying the principles we advocate for a modern, agile and customer-centric telecom landscape. MATRIXX’s initiative resonates with our mission to drive the industry towards collaborative and transformative solutions that benefit service providers and consumers alike.”
For more information about MATRIXX Software and their digital monetization solution, please visit www.matrixx.com/product.
About MATRIXX Software
MATRIXX Software delivers a modern converged charging and digital monetization solution proven at scale. Global operators like Telefónica and Telstra, IoT providers like Tata Communications and network-as-a-service (NaaS) providers like DISH rely on the platform to overcome the limitations of traditional Business Support Systems (BSS). With MATRIXX, service providers can rapidly configure, deploy and monetize personalized, innovative offerings. Its cloud native platform delivers accurate, real-time information that improves customer engagement. MATRIXX enables commercial innovation and real-time customer experiences that drive revenue and growth opportunities across multiple markets.
For more information, please visit www.matrixx.com