Most Communications Service Providers Feel Unprepared to Charge for 5G Services
A survey by Oracle Communications reveals that 94% of communications service providers (CSPs) face challenges with their current charging systems as they prepare to launch 5G networks by 2022. The study showed that 38% struggle with managing costs and 34% with timely market offerings. CSPs intend to introduce an average of three new 5G-enabled services and plan upgrades to their charging systems within 18 months. Key features desired include cross-network convergence (55%) and cloud-native capabilities (32%).
- 86% of CSPs plan to upgrade their charging systems within 18 months to support 5G monetization.
- CSPs are looking to launch an average of three new 5G-enabled services, indicating growth opportunities.
- 94% of CSPs are currently facing challenges with their existing charging systems.
- 38% of CSPs cite high costs of managing existing systems as a primary challenge.
- 34% highlight lengthy time-to-market for new offers as a significant issue.
AUSTIN, Texas, Oct. 6, 2021 /PRNewswire/ -- A new Oracle Communications survey shows that while
"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 (
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,
CSPs also have clear ideas on the features they need from their next charging system. The survey found that cross-network convergence (
"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
FAQ
What percentage of CSPs plan to launch 5G networks by 2022?
What are the top challenges CSPs face regarding charging systems?
How many new services do CSPs plan to launch with 5G?
What key features do CSPs want in new charging systems?