Telecom in the 21st century is governed by new guiding principles. New principles have their own advantage but simultaneously they have their own challenges. To identify below mentioned are few pointers which one can easily correlate with:
- New laws and constant change in regulation by Telecom Regulatory.
- Increasing of financial overhead due to customer care & ordering fulfillment complexity.
- Innovation via modern day technology like IoT (internet of things) ex Asset Monitoring
- Sustaining year-on-year growth & ensuring incremental revenue.
- Delayed timeliness of statutory reporting
- Gain near-real-time insight into KPI such as revenue and customer numbers
- Ensure timely for managements’ reporting and strategy planning
- Increase efficiency of back-office processes, such as financials, purchasing, inventory, and human resources
- Adding more avenues to the business like ISP, D2H, iPTV etc.
- Total cost of ownership for the IT infrastructure
Ensure modernization via technology:
In a dynamic and competitive world where consumers are demanding, cost sensitive and work on high TAT. Below mentioned 7 pointers can be considered as key principle in managing the business effectively. Technology also plays important role in ensuring the success of the program. Across the world Telco’s have relied on the Oracle database and application to monitor and record all business transactions. Oracle database is renowned worldwide for its ability to handle large transaction and process it quickly.
- Regulatory & Statutory Compliances: With constant changes and increased compliances to ensure not only acquisition but sustenance of the consumer. It’s important for the Telco’s to keep track with the changes not only to keep within guidelines but also ensure all compliances are well adhered to. Also, apart from regulation, statutory obligations are important to be followed. Ensuring all compliances is followed for filling tax return with keeping a proper record for the audits. User audit trail, maker checker, MIS like EBIDTA, P&L, Analysis by segment or dimension etc.
- Financials: Financials are the core of any transaction system. It’s important to ensure that the data is collected in the correct format in order to maintain the right ledger. One also needs to ensure that the set of right combination are entrusted so that it can be used for segmentation. Oracle EPR is built on the structure of segmented chart of accounts. Also, apart from maintaining strong ledger other features like accrual accounting, dual record keeping, strong reconciliation, accurate period closing are few out of box features.
- Supply Chain: Starting from Procurement, organization wants to ensure reduction in the procurement cycle while sourcing right item. Also, maintaining the right inventory level and Inventory control with Costing. Maintaining Category wise accounting, Centralised item creation and Inventory cost Update etc.
- Human Capital: Modern day HR is not about Payroll and HRMS. Today CHRO wants to change the organization culture by bringing HR transformation. They indeed want to ensure a resource Perform, Reform and Transform. Tools like Performance Management, Talent Acquisition, and Learning & Development etc. Oracle Fusion HCM is a wonderful application which truly represents the definition of HR i.e. Hire to Retire.
- Integration: Usually Telco’s use Oracle BRM or other local billing application for Acquisition of client. It is important that the application can tightly integrate with the core ERP application to ensure zero loss and managing huge transaction via two way integration
- Management Reporting: Using Oracle Analytics cloud management can address reporting needs of collection (Distributor, LBO, Product etc) , target VS achievement, Ageing, Payment trend etc.
- New Technology: With new age technology like IoT, AI, Machine Learning etc helps organization to be in pace with the world. Critical area like asset monitoring becomes easier
Modern day Telco’s are battling with customer retention (ARPU) and expansion keeping low capital expenditure. Prudence Technology ensures via Oracle Apps that organization is benefitted with right platform and maintains high customer satisfaction. After all service accolades are measured by how your consumer spreads through word of mouth. Companies like, Vodafone, Airtel, Idea, Fastway, Worldlink, Indus Tower, Bharti Infratel etc rely on Oracle Apps for maintaining their Business. Prudence Technology has a vast experience in the domain and continuously working with the telecom sector to ensure growth and profitability.