Information technology (IT) services firm Tech Mahindra and telecom analytics solutions provider Subex have joined hands to roll out blockchain-based solutions for telecom operators globally.
These solutions will enable fraud mitigation and drive operational efficiencies for communication service providers (CSP) by reducing compliance issues, the company said in a statement.
The company claims that 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.
Further, this collaboration is expected to expedite settlement for communication service providers (CSPs) and drive enhanced visibility in the end-of-the-month billing cycle.
"Being a service provider of choice for global telecom operators, Tech Mahindra will help reduce overheads and enhance business profitability. Tech Mahindra aims to offer a cutting-edge solution built on Blockchain and smart contracts that optimizes spends and proactively mitigates disputes. In the collaboration with Subex, adding blockchain as the middleware will add the necessary layer of security and ensure faster and efficient operational process,” Rajesh Dhuddu, Blockchain and Cybersecurity Practice Leader at Tech Mahindra said.
Tech Mahindra said that it 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 Subex’s blockchain network and the capabilities of an enterprise-grade DLT (Distributed Ledger Technology) network.
Last week, Tech Mahindra bagged a Rs 400 crore ($53.78 million) pact to implement enterprise resource planning (ERP) solutions for Hindustan Aeronautics (HAL) and also acquired two firms to strengthen its presence in Australia and New Zealand.