Telecom Spending Drives Demand for Call Accounting
Staying connected in business is important. At the same time, as every business owner knows, it’s also very expensive. The bigger the organization, the more likely there are areas where bills are being paid for services no longer needed; contracts still in place for devices no longer owned; and bills full of errors that no one is checking simply because call accounting wasn’t made a priority.
When looking to cut budgets, however, it only makes sense to take a closer look at what’s driving the most cost. When call accounting is put in place, it’s often accompanied by telecom billing and revenue management. What generally follows is an audit of current spending and a closer look at areas where money doesn’t have to be flying out the door. So powerful are the results that this market is booming.
A Yahoo Finance report focused on new market research, Telecom Billing and Revenue Management Market to 2025 – Global Analysis and Forecast by Solution, Services and Deployment Types. One key finding is that in 2015, the global telecom billing and revenue management market was valued at $9.27 billion and is forecasted to reach $25.73 billion by 2025.
The biggest boost is expected to come from the increase in mobile penetration and consumer base in emerging economies, as well as the growing demand for innovative solutions to address billing and revenue management. There will be restrictions to growth in the global market, however. Deployment and network up graduations tend to have high initial costs, which could keep some companies from deploying the strategy, even where it’s needed.
Significant adoption of telecom billing and revenue management solutions and services has been the reality in APAC and MEA countries, while high adoption trends in growing economies are largely due to the growth in infrastructure and technology adoption trends. The highest market share globally is in APAC, a dominance that is expected to continue during the forecast period, with a predicted growth rate of 12.1 percent. Slow market growth, on the other hand, is expected in Europe and North America due to telecom industry maturity.
Regardless of location, companies that don’t have a handle on their telecom spending are a prime target for call accounting, as well as telecom billing and revenue management. Too often, spending gets out of control simply because those charged with keeping an eye on things have gotten too busy running the business. It’s a great problem to have and creates great opportunity for vendors to help streamline processes and spending.
Edited by Alicia Young