How to Monetize New OSS Solutions

OSS solutions are evolving at unprecedented speeds, but so are consumer expectations. Consumers expect transformation, speed, and convenience when it comes to the digital space, and this has resulted in the development of disruptive technologies, including 5G, AI, and machine learning. When combined, these technologies help organizations become more responsive to their customer’s needs, efficiency, and penetrate the market easily. Due to the digital uprising, the business environment is more supportive of technological innovations as they are easier to implement. Most tech companies have fully embraced this change, but, this enthusiasm has resulted in the development of ambitious solutions that are eventually not monetized. So, this begs the question, how do you monetize new OSS solutions?

How Can You Monetize New OSS Solutions?

1.   Ensure the OSS Solutions Are Connected to Business Needs

The scope of the technology should be dictated by the business problem being solved. If your solution isn’t attractive to the target audience, then it will be difficult to monetize new OSS solutions. Is your tech solution feasible for the intended marketer? Will it provide them with value and a return on their investment?

Before monetization, ensure the technologies can solve critical business issues and preferably be integrated into existing platforms, especially for NFV and SDN.

2.   Create a Monetization Roadmap

Create a systematic framework that highlights feasibility in the short and long-term. This makes capturing immediate opportunity easy, without foregoing long-term benefits. Short term feasibility (between 1-3 yrs) should be based on the technology’s ability to capture the immediate needs of a business.

Medium-term feasibility (3-5 yrs) should focus on technologies that are able to meet emerging needs in the market while long-term feasibility (5yrs+) should be reserved for technologies that aren’t close to implementation or maturity.

Have a rational framework for monetizing technologies based on their feasibility.

3.   Identify How Much Value Your Technology Will Give the Customers

The total value created by the OSS solution for the intended audience should dictate the pricing model. This value should be dependent on factors like:

  • Increase in revenue
  • Labor expenses saved
  • Improved product or service quality
  • Level of client satisfaction

Businesses can only adopt an OSS solution if it reduces their expenses and increases their efficiency. The technology being monetized should be able to enhance customer experience by providing them with solutions they previously lacked. It should assist a business to generate new sales and efficiently automate tasks.

Whether you are looking to increase agility through automation, modernize your operations or embrace digital transformation, Symphonica has you covered. Symphonica, our no-code provisioning automation engine, takes the complexity out of service and network operations so you can focus on growing your business.

The initial investment used to create the technology should also be considered in creating the pricing model.

4.   Set Priorities

Most tech companies often have multiple projects occurring simultaneously, which is why the evaluation of technologies is conducted on a portfolio basis. Always consider your technologies in a broader context and identify those that can be combined to create a wholesome solution for your customers. Technologies often take time to be fully feasible, yet potential clients expect a compelling value proposition for them to make an investment.

Give priority to OSS solutions that rank highly in the feasibility of execution and market attractiveness. These technologies should fit the following criteria;

  • Leverage existing innovations and capabilities in the market
  • Address intended consumer’s needs
  • Is critically needed in the market.

Consumers often look at a depth of a solution, so ensure the technologies strike the perfect balance between depth and breadth.  It should be adaptable by a large market but should provide refined solutions for a specific market segment.

Have a Clear OSS Solution Monetization Path

Monetization of technologies is considerably difficult for companies that do the development without conducting critical market research. Is your solution viable? Which critical business needs does it solve? Can it be integrated into existing technologies? Innovation may be the driving force of disruptive technologies, but monetization is highly influenced by the intended consumers. 

Whether you are looking to increase agility through automation, modernize your operations or embrace digital transformation, Symphonica has you covered. Symphonica, our no-code provisioning automation engine, takes the complexity out of service and network operations so you can focus on growing your business.

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