Many believe that a complete IoT platform is a thing of the future. But in reality, the future has already started as we are living in an age where IoT is present in a limited scope. The biggest challenge with large-scale implementation of IoT sensors comes in its management.Continue reading
The number and value of subscribers plays a huge role in the success of telcos. The larger the number and higher the value of each subscriber, the better is the revenue. So, for operators, it is vital that they have the right strategies in place to attract large number of valuable subscribers for their business. And this can only be done if you have the right online billing solutions.Continue reading
IoT can be a hard nut to crack for MVNOs with traditional billing and B/OSS platforms. The scope of IoT is immense and requires proven expertise in the telecom domain. For an MVNO, the challenge is to grow its capabilities in a range of different verticals and at the same time come up with innovative business tactics. However, doing both at the same time can be a huge struggle for small virtual operators. Therefore, they need the help of proven IoT services provider.Continue reading
Understanding the pulse of the market is very important for any business operation. In order to get ahead of the competition, it is vital for entrepreneurs to analyze what is happening and plan accordingly. The same is true for an MVNO, which is a small fish in the big pond. In order to compete with the bigger players in the market, an MVNO has to conceptualize exciting offers for its subscribers. To do that, it has to look at the future.Continue reading
Is data irrelevant if it is not being applied in a practical and meaningful manner? This is a question that every business owner needs to consider. With the ever-expanding market of the Internet of Things (IoT), businesses around the globe are experiencing an influx of data generation.
Billing is one of the most critical components for any business but it is one that has advanced to an entirely different scale than in years past. Back in the day, organizations could flourish with legacy-based billing solutions implemented as the models were much more simplistic and the market was not nearly as optimized.
We’re living in a world where every day, there is an innovation. An era where temperature, switching on and off security lights, monitoring water levels in our gardens is done through the Internet of Things. It has been predicted that by the end of 2020, there will be an increase in the use of IoT devices by 65%. This would automatically result in a need for better monetization of IoT services, for which improved IoT billing system would be needed.
IoT is making devices smarter and our life better. It has huge potential for telecom companies that are looking to increase their revenue in the near future. However, venturing into the IoT domain has its own fair share of challenges. First of all, it requires operators to come out of their comfort zone and operate in different verticals. Also, the amount of data that needs to be accounted for in an IoT business use case is unparalleled. Despite all the challenges, IoT development is still a lucrative venture that needs to be looked at with great optimism.
Challenges in Implementing IoT Development Platform
- OTA firmware upgrades – As there can be multiple IoT sensors and devices owned by a single user, upgrading over a hardwired connection seems cumbersome and impractical. OTA firmware upgrades are a necessity for smooth operation of an IoT platform.
- Different type of connectivity requirements – An IoT business use case requires you to have access to a variety of IoT connectivity types. While fast speed and low-latency connection works best in real-time services like Telematics, there is a need for low-powered and low-bandwidth data connectivity like LoRA/Sigfox for addressing the requirements of scenarios where rapid sensor discharge can be an issue.
- IoT connectivity monetization – In this day and age, subscribers seek complete transparency in the billing process. They are well-aware of all types of services and their pricing. They won’t pay a penny extra for using a particular service. Therefore, it becomes extremely important to monetize highly complex IoT connectivity billing in such a way that customers are charged only for what they have consumed.
Cloud-Based IoT Services: Why IoT Development Platform Is so Important?
A cloud-based billing platform like Telgoo5 has the answer to all the questions posed by IoT. Below are some of its important features that are essential for successful IoT services launch:
- Convergent and real-time billing: By employing a centralized charging architecture, it becomes easier to bill all service usage effectively. An online charging system (OCS) that is based on the cloud offers true real-time convergent billing and ensures that customer receives the bill for exact amount of service/data that he has utilized.
- Multi-tenancy: A multi-tenant platform allows multiple users to access the same cloud-based resource with different user credentials. Using this platform, it becomes easier to disseminate necessary updates across the subscriber base. As Telgoo5 has a multi-tenant environment, the task of distributing widespread updates (like OTA firmware) becomes simpler.
- Access to capabilities across different verticals: A cloud-based platform like Telgoo5 can offer a variety of functionalities to users across different verticals. It provides access to readymade vendor partnerships for addressing different needs via APIs. For example, an API can be used to partner with a shipping vendor for distributing SIMs to your subscriber base. The same way it can be used to access different types of connectivity solutions.
As a cloud-based environment readily addresses all the challenges of an IoT business use case, it should be the go-to platform for your IoT development and delivery venture. Not only is it flexible and offers a variety of functionalities, it also safeguards your customers’ data with redundancy by storing it at multiple datacenters. Telgoo5 is an exceptional cloud-based platform that has the experience of delivering many successful telecom projects in the past and has the right resources to meet the IoT challenge.
As the age of IoT beckons, the telecom industry is at the cusp of a mega transformation. The time is ripe for those who want to take a leap and truly transform their business into something spectacular. The number of IoT devices is expected to make a jump from the present-day 26.66 billion to 75 billion by 2025. Such a fast influx of new devices is only going to increase the competition between the existing players in the market. In these highly competitive times, a cutting-edge IoT platform can be the difference maker between companies and presents a remarkable opportunity for those who are willing to change according to time.