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Redknee Increased Market Share to Top 4 in 2015

October 19, 2016 7:00 AM

Category: Pricing Innovation | by Namit Garg

The converged billing market is experiencing strong demand as communications service providers seek agile products that can adapt to changing market conditions and a shift in consumer preferences. The strength of the converged billing market is well recognized, with two recent reports highlighting the strong growth. Analysys Mason recently released its Revenue Management Market Share Report which mentioned the converged billing market beat Analysys Mason’s growth expectations in 2015, with growth set to continue. This prediction is further confirmed by Research and Markets which forecasts growth in the converged billing market to be (CAGR) 18.52% for the period 2016-2020.

There are several drivers fueling this growth including an increasing number of business and IT transformation projects and the trend towards the consolidation of business systems to create the agility needed to react to market conditions. Telecom operators are also evolving their business models with the Research and Markets report suggesting there is an evolution from a technology centric to a customer centric approach. The new approach includes the delivery of customized solutions, bundles, and an enhanced user experience.

While there is significant opportunity in the market, it remains competitive. The Analysys Mason Revenue Management Market Share Report reviewed the Top 5 BSS vendor globally, with Redknee named as the fourth-largest vendor in the Convergent billing category. Analysys Mason’s also showed Redknee market share increasing from 6% in 2014 to 8% in 2015, quite a feat in a competitive market.

At Redknee, we continue to experience increased momentum in the Digital Transformation arena. For example, we recently announced a new project with Omantel to deliver a multi-play billing solution. Tbaytel also recently selected Redknee to support their digital transformation strategy by installing our multi-play solution. As CSPs continue to look for ways to monetize the entire digital economy, several Redknee customers are doing to with our flagship product, Redknee Unified. Redknee’s single, end-to-end converged billing solution is able to monetize any service, support any customer type or business model. Redknee Unified enables service providers to build new revenue streams, launch new services and deliver an omni-channel customer experience to grow their business and compete with an array of traditional and non-traditional competitors. A centralized product catalog drives multi-channel selling, order entry, customer order delivery and billing while the solution’s comprehensive order management and workflow capabilities ensure efficient and accurate order delivery in any commerce channel.

Please read our recent e-book, Why Monetization Matters, which further outlines why the telecommunications market is evolving into a digital economy and how telco transformations are reshaping the industry.