Nokia (NYSE:NOK) Corporation (HEL:NOKIA) has announced the launch of its Enterprise Edge Charging software solution. The new software, designed to enhance monetization capabilities for edge services across various sectors such as smart cities, utilities, and railways, is part of Nokia's strategic expansion in the enterprise sector.
The software solution utilizes Artificial Intelligence (AI) and Machine Learning (ML) to give enterprises more control over network data that is processed and analyzed at the edge. This reduces processing costs and improves customer experience by mitigating latency issues commonly associated with centralized data centers.
Enterprise Edge Charging boasts a microservices-based architecture, enabling seamless deployment across diverse cloud and infrastructure environments. It also integrates Nokia's Monetization Manager, which enhances rating flexibility and charging accuracy. The user-friendly interface allows for rapid creation of pricing and marketing strategies, hastening the exploration of new commercial opportunities.
The software is expected to be commercially available by year-end 2023. It can be sold directly to enterprises or public sector entities looking to monetize their private wireless 5G networks or other vendor private wireless networks. Communication Service Providers (CSPs) can also leverage this cost-efficient solution to charge their enterprise customers.
"Nokia's Enterprise Edge Charging software is a significant announcement as it allows CSPs and enterprises to charge for services at the edge. This enables greater control and efficient charging for traditionally low business value devices," said John Abraham, Principal Analyst at Appledore.
Jonah Pransky, Head of Charging Business Line, Cloud and Network Services at Nokia, added that the new solution positions enterprises and CSPs better to capitalize on network monetization opportunities and address evolving customer needs more flexibly and cost-efficiently.
Nokia's charging solutions already support leading CSPs worldwide, serving a customer base of over 1 billion subscribers. This latest advancement is likely to spur further commercial expansion and bolster the company's footprint in the enterprise sector. The company continues to drive the transition of global enterprises into smart virtual networks, leveraging state-of-the-art technology to transform the way people and things communicate and connect.
Despite a 17.9% decline in its stock over the past year, Nokia maintains a strong position in the ongoing technology cycle, with notable successes in key 5G markets. Its growing installed base of high-capacity AirScale products enables customers to quickly upgrade to 5G.
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