By: Cesilia Faustina
The thing about the telecom sector is, it’s constantly evolving. As technology is constantly developing, and so does everything else related to it. As we enter 2020, and with the year of COVID-19, technology is under more pressures to expand, and in the midst of all the disarray are telecom providers. Our dependency on smartphones and the Internet is fuelling greater dependency for the telecom sector.
This dependency can be seen, for example, in the great rise of video streaming. This year, it has become even more of a big deal. In fact, according to Deloitte’s recent Digital Media Trends survey, respondents indicated they at least had one streaming video subscription (69 percent). With greater use of smart TVs and Internet, TV networks are depending on online subscriptions, thus creating a whole new competition in the market. And this is where telecom companies come in, greater dependency towards online media is creating an expanding sector for the telecom industry to tap into.
Many TV networks want to partner up with telecom companies to have their apps available, such as with what Netflix is doing, and other networks like HBO Go only work with certain telecom providers to give access to their shows. Video streaming aside though, this dependency of online activities is creating greater opportunities and partners for telecom providers. People want easier access to connect to each other on top of great entertainment, which means communication providers need to work harder and create an umbrella of partnerships to be able to serve the people what they want.
What are telecom partners and why?
As our world continues to revolve around telephones, computers, and cable TV, it also increases the amount of pressures towards communication service providers (CSPs). This is why many are creating large databases of partners to be able to run a smooth service. Partners here are essentially referred to as business partners, who are any entity with which the service provider cooperates to conduct any sort of business activity. CSPs need their partners to broaden the services they offer, to improve performance, for outsourcing and out-tasking requirements, and so forth.
The thing is though with being a massive industry that many people depend on and require a whole lot of partners, is managing it. CSPs don’t exactly have it easy with the rise of demands from consumers. Thus, comes software to manage it.
A new revolution
So, it’s no surprise that in order to combat business needs resulting from technological advances, we counteract it with more technology; and many industries are looking to software to help reduce the pressures. The finance, HR, and supply chain sectors have been using software to help them manage for a while now, and it’s nothing new for the telecom sector as well, however, the increasing amount of partnerships the sector faces today is bringing a new challenge to the table.
The rise of partner management systems is something relatively recent; created as a solution for modern-day telecom providers.
Partner management systems function to optimize the relationship between a CSP and its partners by providing various tools and functions. This may include tools to help define and document the partners’ information, manage revenue arrangements, agreements, and settlements.
Below are some of the main functionalities such a system should have:
Partner relationship management
Such a system should be able to support the lifecycle of the various partnerships it is involved with, from the creation stage to the development stage. It will also ensure smooth communication between the provider and its partners. This includes defining the role of the partners and managing any contracts between them.
Partner onboarding
Once a partner has been defined and the contracts are all set, the onboarding process may consists of setting up any agreements between the CSP and its partners, including any terms and conditions, configuring billing and settlement accounts, managing partner credentials, and defining the product/service capacity.
Order management
All orders placed to the business partner should also be easily managed through a partner management system for mutual product offerings. These orders may be part of current customer orders or orders placed by one of the partners to add to their products and services.
Assurance management
CSP and business partners need to assure that both parties are fulfilling and meeting their product/service obligations based on the service level agreement (SLA). This functionality helps to look at any cases or issues related to customers, as well as track and monitor performances of both parties.
Billing and reconciliation
This functionality speaks for itself, in which billing and invoicing activities between a CSP and its partners are handled. This may include managing any revenue-sharing details, billing needs, discounts and commission, and settlements and netting.
Product lifecycle management
Such systems provide the functionality required for the onboarding and incorporation of a partner’s prospective products into the CSP’s product catalogue and/or the other way around. It essentially handles the initiation, certification/decertification, onboarding, updates, and decommissioning of partner products.
Business portals
Software systems like these require direct and simple access, which is why many require web portals to help the users login and monitor activities, whether from the CSP’s side or the partner’s side.
Dynamic reporting
At the end of the day, once activities are all set and done, analysis comes next, which is why a partner management software should also provide comprehensive reporting for the team.
A new era
Now, that we got to know a little bit more about partner management and partner management software, it is time to talk about the importance of it all. A software that can manage your partner relationships and activities, specifically for a huge sector like telecom, is highly needed in today’s markets. This can be a game-changer for many CSPs out there, providing faster and more efficient results. It can not only help make processes easier but also save cost for many providers out there that offer their products jointly as part of the telecom value chain of today. In a time of great demands, it is time for greater efficiency for everybody involved, and having an effective partner management software solution, just may be the telecom revolution needed.
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