The big IT service firm Tech Mahindra and Telecom Analytics Solution Provider Subex announced a collaboration to drive the adoption of blockchain-based solutions among telecom operators globally. These solutions will help in eradicating fraud and drive operational efficiencies for communication service providers (CSPs). It will result in a reduction of compliance complexities and speed up the time-to-market.
The collaboration will enable real-time reconciliation reports with summarized data. This will reduce discrepancies, resulting in the reduction of multiple validations and quick dispute resolution based on tamper-proof verifiable transactions. It will also speed up the settlement of communication service providers (CSPs) and foster visibility at the end of the month billing cycle.
These communication service providers will be benefitted from enhanced operational efficiencies by using blockchain-based smart contracts and derive fruitful collaborations, thus winning the trust of various stakeholders.
“Being a service provider of choice for global telecom operators, Tech Mahindra will help reduce overheads and enhance business profitability. …Tech Mahindra aims to offer a cutting-edge solution built on Blockchain and smart contracts that optimizes spends and proactively mitigates disputes. In the collaboration with Subex, adding blockchain as the middleware will add the necessary layer of security and ensure faster and efficient operational process,” said Rajesh Dhuddu, Blockchain and Cybersecurity Practice Leader, Tech Mahindra.
Implementing the capabilities such as operations support system (OSS) and business support system (BSS) domain, Tech Mahindra will bring the solutions for telecom operators. The solutions will be unified with Subex’s blockchain network and unique capabilities of the DLT (Distributed Ledger Technology) network. Tech Mahindra also plans to bring more changes that will ultimately result in reduced cost of operations, faster turnaround times, and least disputes.
“With Subex’s strategy of enabling businesses to build trust within the digital ecosystem, we believe that Blockchain-based technologies will play an important piece to that puzzle. Towards this, we have made significant strides towards leveraging Blockchain in solving challenges across multiple use cases.” Founded in 1994, Subex has spent over 25 years in helping global Communications Service Providers maximize their revenues and profitability, added Rohit Maheshwari, Head – Strategy and amp; Products, Subex.