AUSTIN, Texas, Oct. 6, 2021 /PRNewswire/ -- A new Oracle
Communications survey shows that while 73% of communications
service providers (CSPs) plan to launch 5G networks by 2022, 94%
have challenges with their existing charging systems. As these CSPs
look to monetize everything from streaming videos and network
slicing to eHealth and virtual gaming, they worry their outdated
charging systems will hinder customer experience, performance, and
the ability to get new offerings to market quickly.
"CSPs are making significant investments in their 5G networks
and need to be able to quickly and effectively monetize new
services to get a return, as well as deliver on customer
expectations," said Jason
Rutherford, senior vice president and general manager,
Oracle Communications, Applications. "The survey shows that CSPs
recognize they need to rethink current charging systems to fully
capitalize on the revenue potential of 5G."
The Oracle Communications survey, "5G Readiness Report: CSP
Perceptions on Charging and Monetization for the 5G
Era," was conducted by OvationMR in May 2021 and included responses from 303 decision
makers from the United States,
Canada, Mexico, United
Kingdom, Spain,
France, Hong Kong, Singapore, South
Korea, and Australia. Read
the report to see if you are 5G ready.
Charging challenges could hinder innovation and
experience
CSPs noted the top challenges they currently face when it comes
to charging are the cost of managing their existing systems (38%)
and the lengthy time-to-market for new offers (34%). They also feel
ill-equipped to meet the performance and monetization needs of 5G
and are concerned how their dated technology will impact customer
experience.
On average, CSPs plan to launch three new 5G-enabled services,
ranging from enhanced mobile broadband to smart home, mobile
gaming, retail and live entertainment offers. CSPs also expect to
monetize 5G differently, using an average of three pricing levers
such as data security, latency, and energy efficiency. To support
these new business requirements, 86% of CSPs plan to upgrade
charging systems over the next 18 months.
CSPs also have clear ideas on the features they need from their
next charging system. The survey found that cross-network
convergence (55%), flexible rating and charging schemas (37%), and
cloud-native capabilities (32%) topped the list. CSPs' top
priorities also include using solution providers with
cross-industry expertise, an innovative product roadmap, and robust
software capabilities.
"CSPs realize the need for scalable, converged charging systems
that will enable them to monetize any business model and complex 5G
pricing levers, such as speed, latency and quality of experience
(QoE)," added Rutherford. "This survey highlights the innovative
service types and pricing methods that CSPs want to pursue in the
5G era and the importance of a full-featured solution to deliver
those capabilities."
The survey also explored the impact of 5G and charging systems
on digital transformation and enterprise customers. To learn more,
access the report here. You can also visit the TM Forum's
Digital Transformation World to see Oracle Communications and other
industry leaders demonstrate AI-based charging use cases during a
5G Chargers Catalyst proof-of-concept project.
About Oracle Communications
Oracle Communications
provides integrated communications and cloud solutions for
Service Providers and Enterprises to accelerate their digital
transformation journey in a communications-driven world from
network evolution to digital business to customer experience.
To learn more about Oracle Communications industry solutions,
visit: www.oracle.com/communications, Oracle Communications
LinkedIn, or join the conversation on Twitter @OracleComms.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please
visit us at oracle.com.
Trademarks
Oracle, Java, and MySQL are registered
trademarks of Oracle Corporation.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/most-communications-service-providers-feel-unprepared-to-charge-for-5g-services-301393574.html
SOURCE Oracle