Profitec Billing Services, Inc.: Comprehensive Solutions for Telecom Billing and Expense Management

Randal W Minervino, VP of Sales and Marketing, Profitec Billing Services, IncRandal W Minervino, VP of Sales and Marketing
As an integrated telecom billing and OSS solution provider, Profitec caters to both ends of the telecom billing services spectrum—the service providers and the subscribers. The company's roots can be traced back to the early 80s when Profitec specialized in processing telecom expense management (TEM) data for large enterprises. Having worked closely within the telecom industry, the company has seen it evolve and diversify and has been uniquely positioned to build holistic billing solutions for telecom service providers. Today, Profitec brings to the table the OmniBill OSS, an all-round billing and subscriber management system for any telecom services provider, and ValuBill, the comprehensive TEM solution for enterprises. “Augmenting both these offerings, we have a call center that can address everything from billing inquiries and customer service, to payment posting and revenue assurance. This has turned out well during the pandemic where a lot of businesses had to close down and move to remote locations,” says Randal W Minervino, VP of Sales and Marketing, Profitec.

The OmniBill OSS forms the core offering within Profitec’s OmniSuite, a powerful combination of web based applications. Key modules within the OmniSuite include OmniView for bill presentment and payment, OmniSignup for streamlined web-based end-user signups, OmniAgent, the sales order entry reporting system, and OmniCare, which facilitates web-based customer care. One of OmniBill’s key differentiators is its ability to provide on-demand billing. This means that a services provider needn't wait until the end of any billing cycle to bill for services like installation or troubleshooting. Profitec understands that a significant portion of the revenue for modern telecom service providers comes in a non-recurring fashion via equipment sales, installation, or activation. Whether it is about managing order entry and customers, rates and products, sales channels, inventory, workflows, and trouble-ticketing, or even telecom-related taxes, OmniBill delivers it all. “I hear from many customers that when the billing and commission calculation is right, they get zero blowback from the agents which increases the agent's fidelity to the business and their retention rate,” prides Minervino.

Profitec’s ValuBill, adds to their capability by presenting enterprises with a centralized view of their telecom spend, providing an integrated invoice, asset, and usage management and business analytics tools that provide professionals with rapid access to concise, actionable data at every level of the organization.

We assign an implementation team that oversees everything, all the way from mapping the clients’ needs to delivering the solution, training and customer service

It serves as a solution for managing telecom-related inventory, allocating funds for telecom expenses and ledgering, and managing procurement to name a few. ValuBill can perform bill validation by comparing the charges with what is stipulated in the carrier contract. It can also run several types of trend analysis against the carrier charges to help enterprises carry out (and verify) their telecom expense spends in an in-depth manner. In fact, ValuBill is such a powerful solution that it can, going beyond TEM, help enterprises with IT asset management. It also eliminates siloing of data streams from multiple billing systems, including mobile and cloud technology environments. The system provides cost allocation and data visualizations, helping enterprises present reports, manage assets, and automate workflows.

Both solutions are deployed with finesse, as one of Profitec’s key abilities is helping clients get up and running with their solutions. The company assumes full responsibility in assisting clients with both the implementation as well as conversion (integration) of their solution offerings.

Profitec’s client engagement process begins with an introductory meeting where they gauge the exact needs of the clients and the business process in question. “We then provide an implementation package with which clients can organize their thoughts and tell us, for instance, the kinds of products that they are selling, the way they are commissioning them, and the way their product and rate portfolio works. We assign an implementation team that oversees everything, all the way from mapping the clients’ needs to delivering the solution, training and customer service,” mentions Minervino.

In light of their rich experience in the telecom landscape, Profitec develops all of their software solutions in-house, which allows a single system approach that eliminates the need for "best of breed" solutions and expensive system integrators. The company continually updates their solutions based on the inputs from clients. In this regard, they organize semi-annual users’ group meetups.

Having carved a unique niche in the space, Profitec is planning on upgrading its solutions to accommodate IoT workflows and use cases, which continue to leverage telecom services. “50 percent of our program development effort relates to customer stimulus, and the other entails responding to industry change. As such we look forward to steering towards the IoT frontier,” concludes Minervino. The future looks bright and strategic for Profitec.
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Top 10 Telecom Billing And Revenue Management Solution Companies - 2021
Profitec Billing Services, Inc

Company
Profitec Billing Services, Inc

Headquarters
Wallingford, CT

Management
Randal W Minervino, VP of Sales and Marketing

Description
Profitec brings to the table the OmniBill OSS, an all-round billing and subscriber management system for any telecom services provider, and ValuBill the comprehensive TEM solution for enterprises