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The presented study involves the advance modernisation of OSS/BSS that will be implemented in the next generation in the field of satellite IoT voice and data ecosystem that will operate both non-terrestrial networks and terrestrial networks. Scalability and automation, interoperability, service assurance, and real-time monetisation of previous operational and business support systems are limited as increasing numbers of operational and business support tools get bound in with satellite connectivity, 5G, edge computing, cloud-native, and massive IoT deployments. This piece of work creates one design of modernisation that finishes the network operations, customer management, orchestration of the services, billing, analytics, security, and lifecycle management into a flexible digital framework. The proposed architecture facilitates the hybrid satellite-terrestrial service provisioning, which comprises cloud-native microservices, API interoperability, and AI/ML predictive assurance and zero-touch provisioning, real-time charging, policy control, and multi-domain orchestration. It facilitates the easy handling of IoT voice and data services among LEO, MEO, GEO satellite systems, terrestrial cellular networks, and terrestrial enterprise IoT platforms. The framework also outlines issues related to the variability of latency, roaming, device identity, quality of service, regulatory, compliance, cybersecurity, and revenue-sharing between ecosystem participants. The modernisation of the OSS/BSS will enable satellite IoT providers to innovate their services quicker, provide operational efficiency, enhance customer experience, and facilitate mission-critical uses in remote industries, maritime, aviation, defense, and agriculture, logistics, and smart infrastructure. The article concludes by saying that to create next-generation satellite internet of things systems capable of withstanding and being commercially viable a smart, open, modular and standards based OSS/BSS system is required that crosses both the terrestrial connectivity and nonterrestrial connectivity space.