5 Must-Have Capabilities for a Digital Commerce Solution

5G is the ultimate game changer, giving CSPs the power to move beyond connectivity and straightforward ICT revenue sources. By developing strategic partnerships and leveraging the power of 5G technology, CSPs can broaden their consumer and enterprise portfolios to include rich, digital solutions, combining multiple partner offerings to create truly differentiated offers. To do this, they need to rethink their BSS architecture. CSPs will need a digital commerce solution that will enable the B2B2X ecosystems and business models needed to deliver innovative, collaborative digital services.

Many of the business models, like B2B2X and IoT, that will drive new revenue growth and increased market share will evolve from within the ecosystem. And to realize all the benefits promised by collaborative partnerships, it is imperative that CSPs choose the right BSS solution now to secure their customers, revenues and market share for the future.

1. RICH FUNCTIONALITY FOR MULTI-SIDED BUSINESS MODELS

Ecosystems are built on open, multi-sided collaboration and co-creation with many players involved in getting a solution in front of the end-customer. Speed to market is key and first movers will capture both customers and revenues, but the complexity of the underlying ecosystem must be shielded from the customer.

To facilitate multi-party innovation, B2B2X partner and customer lifecycles must be managed as an automated, continuous, connected cycles anchored in emerging industry standards (e.g., TM Forum Open APIs). The digital commerce solution centers on a unified catalog, with open interfaces for third party services to be published. Services can then be bundled onto multi-party offerings, along with the selling, fulfilment, monetization and settlement processes needed for a full commerce cycle.

2. INTUITIVE EXPERIENCES FOR PARTNER AND CUSTOMERS

To seize first mover advantage, CSPs must bring new services to market with hyperscaler speed. The right digital commerce solution allows CSPs to quickly respond to the fluid needs of individual market verticals. CSPs should adopt the “fail fast, fail cheap” approach used by the hyperscalers to shorten their time to market for new products and services.

That means CSPs need highly standardized, but open solutions that allow for automated publishing of third-party catalogs, including automated service configuration, integrated workflows, and advanced partner and customer journey management. This will underpin a successful, easy and positive experience for all ecosystem players–CSPs, partners and end consumers.

3. AGNOSTIC PROCESSING FROM CONCEPT TO CASH

Agnostic solutions will be essential for managing every element of the digital services ecosystem–from the underlying networks to the industry verticals and customer segments being served to the charging, payment and settlement methods employed. Most 5G use cases will be delivered over a combination of networks–5G, 4G, Wi-Fi, fixed networks, both legacy and new deployments. Business model flexibility such as how customers engage, consume and pay will create an elevated experience for all segments. Success will come from digital commerce solutions that are truly agnostic, scalable and configurable with modern architecture and defined roadmaps.