Cloud billing is a beneficial solution for any industry or business that needs to process invoice or bill clients. Not only does it save significantly on the cost to maintain or process the payments manually and in house, but there are also a plethora of advanced features made available to users- even start-ups that they likely wouldn’t have access to with traditional billing platforms.
In telecom, where the return on investment is critical and new communications technologies continue to emerge, it is especially critical that providers have a billing solution customers agree with and providers can utilize.
One recent report, “Global Telecom Cloud Billing Market 2020-2025” predicts that optimistic growth in the market will allow the market size to grow to $10490.0M by 2024.
Benefits that have helped the market to maintain growth over the last four years despite other market downturns include the ability to lower operational and administration costs and well as growing mobile subscriber rates and the increasing need for real-time billing and bundled services.
According to the report, the Telecom Cloud Billing market maintained an average annual growth rate of 0.154221197949 from $1545.0M in 2014 to $3165.0M in 2019.
Upcoming expansion in the market will be seen in areas such as the APAC region as the very large population in the area will see subscriber bases grow across telecom companies.
If you’re looking for a simplified way to do cloud billing for your business, we can help. Subscription DNA offers a powerful SaaS platform that can easily integrate subscription billing for you as well as offer you robust subscription management, paywalls, and authentication features.