The exponential growth driving the new usage economy is powered by smart connected products. Smart products provide a significant leap in new functionality accompanied by greater reliability and utilization than was previously possible. The changing nature of products are disrupting value chains and the monetization paradigm for Service Providers. Smart, connected products require a whole new technology and monetization infrastructure. This new infrastructure provides a mechanism for data exchange between the product and the user and integrates data from business systems, external sources, and other related products.
Service Providers need to find new ways to optimize revenues to not just stay afloat, but to thrive. A significant change in thinking about how they monetize and manage subscriber demands will require a new level of flexibility and agility in how they can respond to the surge of data coming across the network. This is where EngageIP can help. The LogiSense EngageIP Platform allows service providers to unlock their marketing and sales organization’s ability to efficiently roll out new services that incorporate real time service data, bundling, sharing and tiering into a differentiated set of services faster than ever before.
While many billing systems handle basic subscription scenarios, the EngageIP system provides a highly differentiated value proposition that can help service providers monetize complex business models. EngageIP 10 Usage Rating and Billing Platform is based around 5 core tenets:
EngageIP has a distributed, multithreaded architecture that can scale horizontally and vertically in a cloud environment. This allows it to handle billing and rating of hundreds of millions of daily usage records across thousands of accounts and catalog offerings. All this is achieved while maintaining strict SLA requirements that typical cloud based subscription billing providers cannot adhere to.
In order to be profitable, businesses need to be able to offer unique differentiated experiences. EngageIP offers a flexible user interface that provides a great deal of versatility in creating new business offerings for monetization. Care has been taking to ensure that the additional flexibility does not come at the cost of usability.
EngageIP provides a variety of descriptive, diagnostic and prescriptive analytics capabilities including a powerful reporting and dashboarding engine, alert mechanisms and cloud logging capabilities.
EngageIP has a flexible and real time usage rating engine that can rate any feed, anytime and anywhere. Simple and complex rate conditions can be configured to satisfy multiple business models. Aggregation is performed via a sophisticated bucketing engine that enable you to deploy combinations of free and tiered usage offerings to the market for any type of product or service. Subscriptions can be created on the fly to personalize the experience of large enterprise customers who want more than what a simple stock SKU based catalog can provide.
EngageIP is a true platform that can be extended via custom logic, workflows and screen extensions to solve any business need of the customer no matter how unique. In addition to this, EngageIP provides a rich set of APIs and events that facilitate easy integration with 3rd party systems.