By Laurie Koumoundouros, Vice President Client Solutions, Paymentus
It’s no secret that winning and maintaining customers continues to be a challenge for Communication Service Providers (CSPs). In a recent article, we explored the root causes of customer churn and how modernized billing and payments can increase subscriber loyalty.
But loyalty is just one element to successful operations. On-time payments and reliable cash flow are key hallmarks of both retention and sustainable growth, which are generally the top two priorities of Paymentus CSP clients.
To that end, here are three performance highlights showing how your peers have leveraged the best-in-class Paymentus solution to transform their performance.
A 40% Increase In Net Promoter Score (NPS)
Due to legacy billing and payment limitations, Shentel (a Commsoft client) was facing an issue familiar to many telecoms. Rapid growth outpaced its legacy solution’s capabilities, leading to outages and limited payment options.
Shentel opted to migrate to Paymentus, and in doing so, completely elevated its ability to serve subscribers. Through a single integration, Shentel delivered everything from digital wallets to in-store Walmart bill payments. The net result saw Shentel experience a 6X increase in AutoPay usage and a 45% reduction in payment calls per subscriber.
In the years since, Shentel has experienced 0% downtime and 100% platform stability. Taken together, it’s easy to see how this leading telecom increased its NPS from -3.2% to 39.7%, and now enjoys a 96% customer satisfaction rating.
196% Increase in AutoPay Adoption
AutoPay is considered one of the foremost indicators of customer loyalty throughout all industries, but particularly for telecoms. Each enrollment is a commitment, making it one of the most sought-after payment methods for all of our clients.
However, each migration is unique due to how legacy billing and payment providers choose to handle data. While some ensure a smooth transition, others pose challenges. Such was the case for Inland Cellular. The Paymentus challenge was ensuring a seamless migration characterized by immediate AutoPay adoption.
Within months of go-live, Inland Cellular had achieved a 196% increase in AutoPay adoption, with more than 40% of all payments made using AutoPay. This surpassed its previous usage, proving both the effectiveness of the customer-data integration strategy and the Paymentus solution as a whole.
50% Return On Information
AutoPay may be the ideal payment method, but there are a variety of reasons why consumers opt not to enroll. Whether for control or financial reasons, the aim must still be to provide these consumers with fast and simple ways to pay their bill—which is where a seamless integration between a billing and payments provider and BSS/OSS solution becomes invaluable.
VARCOMM (a MACC client) wanted to boost its proactive communications to customers to drive more on-time payments, something not possible through its legacy provider. VARCOMM and Paymentus worked in collaboration to deliver accurate customer data to optimize the usage of Paymentus’ communication tools.
VARCOMM was able to segment its audience base and deliver campaigns for payment notices, payment information, community events, and promotions. Each of these campaigns was set up using a multi-channel approach that included email, text and IVR. The telecom reported after a single automated message was sent to customers with bills due, nearly half were paid within an hour. A 50% immediate return on information? That’s the power of seamless integration.
Integrations as a Launching Pad
None of the aforementioned success would be possible without integration flexibility. Paymentus offers simplified integrations with leading OSS and BSS providers including:
- NISC
- Innovative Systems
- CDG
- Sonar
- IDI Billing
- Splynx
- MACC
- And many more
The flexibility offered is not just about getting more from your billing and payments, it’s about allowing you to stay locked into a system that works best for your organization. Like we always say, it’s your data, we’re just here to put it to its best use.
Want to learn more about how Paymentus can work seamlessly with your system? Let’s talk! Telecom experts are on hand to discuss your goals and showcase the full solution when you’re ready.
