Business support systems (BSS) are fast becoming popular due to increasing requirements in 5G and customer experiences.
A recent research study by Frost & Sullivan research reveals expansion and growth opportunities in the next-gen wireless BSS market. The BSS tools help the communication service providers (CSPs) to provide personalized service experiences – for both businesses and consumers.
However, the same study also indicates that the market could experience a short-term slowdown due to the widespread pandemic – while the long-term outlook is positive.
Lately, many vendors have introduced cutting-edge BSS solutions, including the capacity to support flexible deployments for both core and edge. They also have the option for the network slice lifecycle management essential in helping CSPs deliver on the multi-partner business models.
Businesses from other industry verticals are relatively timely in their digitization efforts. They are encountering similar challenges to those of CSPs in the initial phase of digital transformation efforts. With the evolving situation, it is more crucial for the wireless networks to support the connectivity requirements and function reliably across the board.
BSS vendors are utilizing the existing 4G as well as the earlier generations’ network services. They drive the bulk of their revenue currently. While the wireless sector remains a significant concern for the BSS vendors, with time, they will be able to align with BSS solutions to meet the necessary business needs.
These include financial services, branding, communications, healthcare agencies, media, entertainment companies, even government bodies. Hence, the BSS vendors can tie-up with different CSPs – in order to build substantial growth opportunities. Some key pointer from the study –
- Businesses can introduce new price strategies and partner-centered business modelssuch as B2B, B2B2X, and B2C for 5G success.
- Pioneering AI-driven support systems and customer experience tools that help CSPs offer differentiated 5G services.
- Organizations can support flexible deployments (both core and edge)and leverage cloud-native principles to support the operators monetize various features of a network. They can also create new opportunities.
- Implementing a robust 5G planto set performance characteristics –including latency and quality of service (QoS). With 5G, the strategy can manage networks as well as services down to the device level. This will ensure effective customer experience while dealing with valuable network resources.
As mentioned by Vikrant Gandhi, Senior Industry Director for Information & Communication Technologies at Frost & Sullivan, in the company blog post – “It is evident that BSS can significantly drive efforts to help organizations address key concerns such as introducing digital services and enabling customers to personalize their service experience.”