Technology gives the ease of managing various complex day-to-day activities efficiently. VoIP Billing Solution is one such software that makes the idea of client management and the billing process more approachable than ever. This article walks you through the insights into the VoIP billing system and its know-Hows.
What is VoIP Billing System
VoIP Billing System is a set of solutions that help manage, track, report, and process payments, billing, and multiple needs of the organizational payment process more efficiently and accurately. As a cherry on top, the Custom VoIP billing solution provides cutting-edge features for service providers and end users.
An automated VoIP billing solution fills the gap in the traditional billing system and accomplishes multiple organization requirements by improving overall client management.
An ideal VoIP billing solution development includes real-time VoIP Billing and has a flexible rate management system for Customer and Vendor rates. It also includes:
- Real-time multi-layer charging
- Multicurrency support
Why Should You Use VoIP billing?
VoIP (Voice Over Internet Protocol) minimizes the company’s expenses since the calls connect via the internet. For this reason, many businesses choose VoIP due to its abundant benefits. Consequently, VoIP Billing System is the savior for all types of companies, large or small, since it makes the entire billing process easy and hassle-free. It is the support system of service providers.
Some of the most important reasons to use VoIP billing are:
- Per-tenant customized accounting
- Invoice generation
- Rates ( day/date wise)
- Voice as per start and end time
A VoIP Billing Software that takes CDR ( call detail report) and generates an invoice per billing plans and rules that are customizable as per the requirement of the business.
A custom billing solution is a feature-rich solution that caters to the different requirements of the service providers, be they small or large. These features are:
- Price list/Tariff management
- Configurable rounding method (round/up/down)
- Support real-time billing, prepaid and postpaid
- Real-time balance update
- Subscriptions and Packages
- Multicurrency support (Manual or automatic exchange rate)
- VAT accounting
- Comprehensive financial analysis
- Notification system
- Integrated automated, customizable invoicing system
- Price list/Tariff management
- Configurable rounding method (round/up/down)
- Time zones get configuration on an individual Vendor or Client basis.
Ecosmob’s custom VoIP billing solution helps you get the most out of these features. Our advanced VoIP billing system enables resellers, distributors, retailers, and end customers to get a robust, flexible, and profitable billing solution per their requirements.
Role Of VoIP Billing System
Standalone or Easy Integration Into Class 4/SBC
Routing and billing are two crucial functions employed from two or one full-scaled platform in the event of a long-distance VoIP network and business. To access routing functions, you will need a class 4 Softswitch or another solution, and to access billing-related services, you will need a VoIP billing software solution.
Furthermore, some may prefer a standalone VoIP billing system. However, the general preference is for the inclusion of this facility in the existing class 4 Softswitch or, better still, the session border controller. Your VoIP Billing Software developer can devise a solution from scratch or port an existing one to your Softswitch or the SBC. What so ever is the case, this integration brings an abundance of advantages.
For example, automatic calculation of call cost once the call ends and posting that entry straight into the invoice for real-time billing. These benefits come in handy with Standalone or integration of VoIP billing solutions into class 4 Softswitch/SBC.
While still giving organizations the desired communications tools, hosted IP PBX eliminates the costs of large, expensive equipment. It reduces the need for costly and time-consuming on-site multi-tenant IP PBX monitoring. Users using IP PBX can connect whenever, anywhere, and with any device to facilitate effective teamwork and communication. Three-way conferencing, call return, call transfer, programmable routing, phone book functionality, and others are the most popular and beneficial IP PBX characteristics. Additionally, it offers direct inward dialing, voice mail, a multi-level IVR, and music on hold.
IP PBX’s multi-tenant features help you grow your customer base internationally. IP PBX efficiently manages a large volume of calls without compromising VoIP communication.
An essential component of VoIP class 5 Softswitch is billing. It has a customizable rate management system for Customer and Vendor rates and real-time billing. Class5 Softswitch enhances the productivity of the billing solution.
MVNO (Mobile Virtual Network Operator)
MVNO is a reseller for wireless communication services. Mobile Network Operators (MNOs)understand how vital MVNO partners are for reaching out to specific audiences with unique demands through low-cost business models & pricing structures. MVNO billing systems precisely manage these pricing schemes.
MVNO Providers allow MNOs to route calls through these resellers, and MNOs can establish their presence even in numerous rural areas.
MVNO and VoIP billing systems are interrelated. Here is how :
Easy Integration With MVNO
MVNO enables easy integration. It reflects zero errors in subscriber billing. In addition, the billing and metering also connect to the carrier that offers the MVNO’s service. It makes it possible for the utilization CDRs to serve as the framework for generating reports for cross-checking and tallying to spot irregularities.
Bifurcation through Modules
An ideal billing system consists of modules, for instance, service provisioning, customer management modules, product catalog, branch billing, real-time charging, and CDR file mediation.
Benefits Of The VoIP Billing System For Your Business
There needs to be a meticulous process in managing Real-time VoIP billing software because of the large number of calls. VoIP Hosted Billing takes the overhead complexities involved in billing and report generation. Here are the detailed benefits of the VoIP Billing System.
VoIP Billing System Empowers Scalability
When your organization is growing, your billing system needs to be scalable. This billing system is an efficient way to boost the scalability of your business. It allows an influx of generated invoices to analyze numerous accounts. You can also add countless customers with prepaid and postpaid plans.
Besides, you can also opt for a Custom VoIP billing solution per your business requirements. It provides a robust way to accommodate more profitability for your business.
Provides Automated VoIP Billing Solutions
Automatic billing is a necessity for most businesses. The VoIP billing system automates the complicated billing process. The system offers more innovative solutions by ensuring customers have paid and sent out additional invoices.
Companies often have to facilitate multiple merchant channels to collect payment and establish payment gateways for visas or master cards. VoIP billing solutions make billing simple and flexible. More importantly, the automated VoIP billing solutions enable you to generate accurate invoices in less time.
Manage Financial History
Almost all business needs to have well-established management of financial transactions. Especially for organizations in VoIP businesses, it is vital to have clear financial records of their prospects.
Automated VoIP Billing Solutions enable you to review logged invoices, track daily transactions, or even settle claims. Plus, it’s easier to resend invoices with the system and real-time payment details with the help of Real-time VoIP billing software.
Easy To Fetch Reports
Whenever a company wants to generate reports for prepaid or postpaid accounts, send alerts, or track late payments, all these tasks are done quickly with VoIP billing software. These reports help businesses to increase productivity. Also, they can monitor account receivable, call data reports, and collect. Moreover, these billing solutions work as a roadmap to growing your business.
In short, the enormous benefits of the VoIP billing system allow expanding your business. Adopt the approach and embrace the solutions to increase productivity.
VoIP billing software lets you transfer all your records if you wish to switch carriers. It resolves the overhead of starting from scratch and, as a result, saves time and effort and intact accuracy.
Optimum Use of Resources
Business solutions that do not rely on VoIP billing solutions use manual resources to carry out the billing tasks. It is time-consuming, involves human resources, is prone to sacrifice accuracy due to human error, and is a slow process.
Automated VoIP Solutions takes care of all these requirements with the utmost accuracy and enhances productivity. It also helps you analyze data reports and deliverables. It is vital for the growth of your business. It promotes the optimum use of resources.
Does Your Organization Need Automated VoIP Billing Solutions?
Billing consists of numerous factors like connection and disconnection charges, variable incremental billing, step charges based on the duration of the call, free minutes or calls, etc.
A billing system provides the capacity to manage balances and govern services instantly. It involves verification of the subscriber and checking the account balance before providing services to the end user.
Hence no matter how large or small your organization is, having a billing solution is always the right decision.
Why VoIP Billing Solution by Ecosmob?
Ecosmob offers various services under the umbrella of VoIP billing solutions through intelligently customized billing solutions for resellers, distributors, retailers, and end customers.
Our Custom VoIP billing solutions are highly scalable. We understand your business requirements and integrate the design accordingly. Contact us for details on how VoIP Billing Solutions can empower your business growth.