VoIP retail and wholesale businesses are one of the fastest-growing businesses in this industry. The traditional telephony solutions are getting replaced by SIP-based telephony solutions. From VoIP termination to end-to-end VoIP calls with calling cards and/or mobile SIP Dialer apps are in trend. This has allured many serial business owners and technopreneurs to this industry and the competition is getting fierce every passing day. Still, the allurements of growth and success are really high. Thus, more and more people are getting engrossed in business activities in these areas. The VoIP business owners need to introduce ways to reduce expenses and enhance services so they can retain existing customers, capture new customers and increase profit margin.
One of the first approaches adopted by more than 84.37% of VoIP service providers is that they have replaced their old hardware-based switches with the VoIP Softswitch solutions and many are in process of doing the same. The wholesale businesses use class 4 Softswitch solution, and the residential and local VoIP service providers use class 5 Softswitch. There are also some providers that run both, wholesale and residential businesses and they don’t need to use two different VoIP Softswitch solutions. They can use a hybrid VoIP Softswitch solution which provides features of both, class 4 Softswitch and Class 5 Softswitch.
These VoIP Softswitch solutions are software-based systems and remove all unnecessary expenses related to hardware switch solutions. It comes with an even more advanced array of features to benefit the service providers. Billing is not considered a core feature of the VoIP Softswitch solutions and that’s why many of them don’t have an integrated billing system and some of them have way too basic billing systems.
The VoIP Softswitch solution must have advanced billing features. As one can imagine, any VoIP Softswitch solution will be used to provide services to customers and not for internal use. It means each customer has to be billed for his / her use. If the VoIP Softswitch solution doesn’t have the billing system, an additional arrangement needs to be made to take care of the billing part of the business.
The manual way of invoicing and billing would be way too outdated and inefficient in the case of the VoIP business because often businesses handle multiple customers with complex billing models. Also, each business owner caters to customers with hundreds of calls and relevant VoIP services. In the case of wholesale VoIP business, the number of calls touches thousands and sometimes millions. As you can imagine, it is tedious to make invoices manually and it is prone to human errors. Thus, VoIP service providers have to use an automated and advanced VoIP billing solution. Integrating any third-party system in the VoIP Softswitch solution can create some compatibility issues as well as support contract consumes money for two different providers. This can be complex and expensive.
The solution is to look for the VoIP Softswitch solution with an integrated billing feature. This billing feature has to be capable to automate the complete process of invoicing and billing.
We, at VSPL, have developed the most advanced VoIP Softswitch solutions for class 4 switch, class 5 Softswitch, and hybrid Softswitch. All of these switches have an advanced billing system with a payment processing function integrated into them. To discuss this in more detail, please get in touch with us.