Frost & Sullivan lauded Openet for its 5G, Open and Cloud-native BSS for Service Providers.
Based on its recent analysis of the global digital business support system (BSS) market, Frost & Sullivan recognizes Openet, an Amdocs Company, with the 2020 Global Entrepreneurial Company of the Year Award. The company's open source and cloud-native BSS for communication service providers (CSPs) is a testament to its innovative product architecture, proven implementations, and commitment to product enhancements.
"To address the volume, latency, and dynamic needs of 5G applications, Openet products are built using cloud-native principles and are designed to be distributed. They can support flexible deployments at the core and edge. This flexibility allows operators to monetize different features of the network, such as quality of service and latency and explore new opportunities in B2B, IoT, smart cities, and Industry 4.0," said Vikrant Gandhi, industry analyst. "Openet's 5G policy and charging functions are integrated into the service catalogs of existing BSS stacks and the 5G network and provide a 5G Value Plane that links the IT and business functions in CSPs to 5G networks. The Openet 5G Data Bridge facilitates conversion from 4G to 5G and vice versa whereas the Openet Data Fabric aids the integration of all data sources into a common format and processes it to deliver purposeful data sets for specific business needs."
Openet demonstrates its expertise in 5G solutions with the introduction of its Evolved Charging Suite, a cloud-native, real-time system that enables distributed 5G charging. A truly agile system, the suite offers the monetization flexibility and performance characteristics for 5G and hybrid 4G/5G environments that customers desire. The suite supports new business models and hybrid 4G/5G deployments to help CSPs migrate efficiently to full 5G core deployments. In addition, the Openet Policy Controller includes various editable blueprints, which are out-of-box policy templates for automated service and slice lifecycle management.
Openet employs an extensive library of reusable microservices to deliver superior product configurability and accelerate speed to market. Its microservices based offerings can be monetized according to CSPs' preferred commercial models to deliver pricing flexibility and greater value. Significantly, Openet has enabled phased delivery of large digital BSS projects so CSPs can rapidly expand and innovate, while seamlessly updating existing platforms and components. Furthermore, strategic partnerships with leading cloud providers, including AWS and Microsoft Azure, ensure that Openet's virtualized solutions can be deployed universally.
"By implementing Openet's solutions, CSPs have achieved more than 40 percent reduction in time to market for new service offerings. They have also generated an approximate 30 percent hike in offer uptake and experienced a double-digit increase in mobile data revenues," noted Gandhi. "Overall, solution flexibility, thought leadership, and speed to market set Openet apart in a competitive industry and are helping it identify and address customers' unmet needs."
In August 2020 Openet was acquired by Amdocs. With a shared commitment to open, microservices based, cloud-native technology Amdocs and Openet are working together to accelerate the move to the cloud and are enabling CSPs to be able to generate new 5G revenues, open new markets and deliver a richer 5G experience to their customers.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in devising and implementing a robust growth strategy. The recipient exemplifies innovation in products and technologies, leadership in customer value, and speed in response to market needs. The award benchmarking process evaluates emerging market players and recognizes the best practices that position them for future growth excellence.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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Openet, an Amdocs company, is a leading software and services provider to communications companies. Our deep domain expertise & understanding of complex systems, underpinned by the tenacity and determination of our people, enable us to radically transform how our customers do business, providing best in class digital and 5G business support systems.
In an industry where the only constant is change, our open and innovative technology is built for change. For the last 20 years we have helped the world's most innovative communications companies manage and monetise their business and evolve from communications companies to digital service providers. This gives our customers the power to enter new markets, open new revenue streams and increase profitability.
Amdocs' purpose is to enrich lives and progress society, using creativity and technology to build a better connected world. Amdocs and its 25,000 employees partner with the leading players in the communications and media industry, enabling next-generation experiences in 85 countries. Our cloud-native, open and dynamic portfolio of digital solutions, platforms and services brings greater choice, faster time to market and flexibility, to better meet the evolving needs of our customers as they drive growth, transform and take their business to the cloud. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.1 billion in fiscal 2019.