Amdocs, a leading provider of software and services to communications and media companies, today introduced Amdocs Freestyle Billing solution to enable service providers to evolve their billing with a next-generation, flexible, customizable offering, future-proofed for the endless possibilities of 5G experiences as well as new services, physical and virtual goods. Several tier-1 North American service providers have already integrated this solution, improving existing customer experiences and preparing their business for what's next.
As 5G continues to grow, we expect to see more service providers having unique "experience packages" beyond a simple blanket of 5G speeds for all offerings - for instance, a connection specifically for cloud gaming, the metaverse or an autonomous car. As experiences become more a la carte, there is a need for a new kind of billing approach that can be fine-tuned and uniquely tailored to end-users, backed by machine-learning, to understand what they may want even if they aren't sure themselves. This will be essential to be a player in a new digital world, including upcoming metaverse use cases.
Freestyle Billing offers a unique, holistic approach to flexible monetization to address the new capabilities and use cases enabled by 5G, such as network slicing, AR/VR services in the field, precise monitoring and more. It introduces a single, universal biller that supports each customer, consumer, or enterprise, with a preferred monetization model for their needs per different service, creating countless options for billing and business models based on preference.
This innovative offering enables service providers to optimize and automate their customers' experiences with a novel toolset and agile approach. Machine learning-based recommendations suggest the best invoicing model for each user, with users' ability to adjust preferences manually. This includes the ability to split payments among family members, separate different 5G-enabled experiences from base offerings, real-time visibility through the month, and a design-led statement that delivers a personalized, engaging bill that minimizes complexities.
"As individual 5G experiences become available, communications service providers will confront several complexities," said Darius Singh, Principal Consultant of research firm STL Partners. "These include the need for a clean monetization experience for complicated products or services; partner management across B2B2X ecosystems; the importance of "configurability" for bespoke services; real-time billing and insights; hybrid commercial models, and monetization for new 5G use cases. An essential component of meeting this challenge is developing end-to-end monetization models that properly fit this purpose."
"Next generation experiences are driving new consumer expectations for flexibility around payments and monetization, and creating new revenue opportunities for service providers,” said Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs. "With Amdocs Freestyle Billing, we're offering more flexibility than ever, ensuring new 5G service innovation is easily monetized and intuitive across customer journey touchpoints."