3 Ways NetSuite can help Telecom companies
Posted On March Tuesday 2, 2021
“Mr. Watson, come here. I want to see you.” These were the words of Alexander Graham Bell, the inventor of the telephone on his first call to his assistant Mr. Watson from his Boston laboratory on March 10, 1876. Fast forward to 2020. As it was well put in the Vodafone ad from 2014, “The world is their playground”. From a simple laboratory setup to lines that run several times round the earth, most telecom companies in this day and age like to think that way. They also recognize the importance of ERP implementations if they must keep growing that way.
But it is not all rosy for the telecom companies. It’s a rocky path for ERP implementations as well for many telecommunications companies. NetSuite can help them provide an omnichannel customer experience, the ease of financial consolidation, and the management of multiple subsidiaries easily, much like it helps companies in other sectors. However, there are some other key benefits of a NetSuite ERP implementation for a telecom company, in particular. Some of them are:
Helps manage new and existing employees
Being a B2C-heavy sector and highly volatile, telecom witnesses some of the greatest challenges in maintaining a steady workforce, especially with a high level of attrition. Attrition in the telecom industry is primarily attributed to employees moving to other more rewarding career opportunities, the excessive work load, and poor employee-manager relationships. There is a large number of contact center employees in the telecom sector, and attrition is quite high amongst them. NetSuite TribeHR, which is a component of NetSuite’s Human Capital Management (HCM) module allows companies to improve employee engagement. They do this by improving workforce morale and productivity by allowing easy management of time-off requests, providing a social recognition system and upskilling pathways, goal tracking, and employee performance reviews. There can also be well-deigned processes for the onboarding of new hires in NetSuite, which again helps the company imbibe them with the right skill sets
Supports the diversification of services through billing
To stay competitive, services business such as telecom continue to offer a wide range of service outcomes. Think about all the value-added services you can subscribe to from your service provider on your mobile. To make these different service outcomes possible, telecom companies will need different billing models also. With NetSuite’s SuiteBilling, standardized billing has been replaced with a strategically managed one. There is now a core framework in place. This includes subscription management, which allows for both subscription- and usage-based pricings and ratings. Not just this, but the customized billing portals supported by NetSuite ensure that now companies can not only deepen but also expand customer relationships. SuiteBilling also allows companies to send out invoices using different forms to satisfy differing needs of the customers, while the consolidation of invoices happens at one place.
Helps Manage Customer Relationships in Demanding Call Center Environments
Many telecom companies are wary of high-cost, “too large a scale to manage” enterprise software implementations. Most telecom companies need to manage a number of customers and for this purpose have a high-volume call center environment. They need to manage a number of relationships with their regular customers and key interactions with their high-touch customers. The business processes associated with the assignment of support cases and their management and escalation are all automated using NetSuite CRM+. The support cases can also be routed or tracked by customer, product or service offered, and specific issue, all within NetSuite CRM+. Add to this the armory of real-time dashboards, and telecom companies can now also track resolution metrics, customer satisfaction metrics, renewals of services etc. not just for one location, but for multiple locations worldwide. Now you can attract, train, manage, and retain talent from within NetSuite.
Techcloudpro is an Oracle Gold Channel Partner for NetSuite, and we have been helping businesses thrive since 2017 by leveraging the power of the world’s #1 cloud ERP, NetSuite. To know more about what we do, talk to us! We are waiting to hear from you, Mr. Watson.
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