Nexign Invests in Development of the Universal Billing

Nexign will offer telecom operators and service providers a universal billing solution based on open source database management systems. This will enable customers to optimize the total cost of ownership of a software product and easily adapt it to changing business needs.

St. Petersburg, Russia — March 2, 2021: Nexign (a part of ICS Holding LLC), a leading Business Support System (BSS) and Internet of Things (IoT) solutions provider, today announced the start of the project called "Universal Digital Billing." The project will be funded with investments from Nexign, as well as with a grant from the Russian Fund for the Development of Information Technologies (RFRIT) on a targeted and free basis. The sales start is scheduled for 2022.

The product is intended for both telecom operators and companies from related areas: it can be used by service platforms for the production and distribution of content in various digital networks, as well as by SaaS and PaaS platforms.

Telecom operators and service providers need a flexible solution for settlements with consumers, partners and suppliers. This need is driven by growing complexity of the ecosystem, which combines classic communication services and new digital services for private and corporate customers. At the same time, the billing solution must take into account the exchange rates and taxation schemes, as well as other factors that affect mutual settlements between suppliers and consumers of products and services.

Providing extensive converged billing capabilities, the Nexign's new product will give customers the choice between using mainstream commercial databases and moving to open source database systems, such as PostgreSQL. Thus, flexibility, scalability, and availability for both large market players and small companies will be the key advantages of the universal billing.

"We rely on our experience in the telecommunications industry and take the trends and needs of a changing market into consideration. Digitalization of various sectors of the economy creates high demand for billing solutions. The flexibility and high performance of the universal billing will enable Nexign to support the digital transformation strategies of telecom operators and service providers in both local and international markets,” says Igor Gorkov, CEO of Nexign. “The support from RFRIT means that Nexign team will be able to strengthen the company’s research and development functions. It also indicates recognition by experts who selected the best projects during the competition.”