The partnership will enable real-time reconciliation reports with summarised data to minimise discrepancies, leading to reduction of multiple validations and quick dispute resolution through tamper-proof verifiable transactions, it added.
The collaboration will also expedite settlement for CSPs and drive enhanced visibility in the end-of-the-month billing cycle.
The CSPs will benefit from enhanced operational efficiencies by leveraging blockchain-based smart contracts and forge more impactful alliances to drive trust amongst diverse stakeholders, the statement said.
“Being a service provider of choice for global telecom operators, Tech Mahindra will help reduce overheads and enhance business profitability.
“As part of TechMNxt charter, Tech Mahindra aims to offer a cutting-edge solution built on Blockchain and smart contracts that optimises spends and proactively mitigates disputes,” Tech Mahindra Blockchain and Cybersecurity Practice Leader Rajesh Dhuddu said.
Tech Mahindra will roll-out solutions for telecom operators backed by its proven capabilities in operations support systems (OSS) and business support systems (BSS) domain.
The solutions will be integrated with telecom analytics firm Subex’s blockchain network and the capabilities of an enterprise-grade DLT (Distributed Ledger Technology) network.
“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,” said Rohit Maheshwari, Head – Strategy and Products at Subex.