Act now to improve revenues, profits and customer experience...
Revenue Assurance Defined...
Revenue Assurance in the Communications Service Provider (CSP)/telecoms sector drives enhanced profitability and customer experience
A basic Revenue Assurance definition that may be used is:
“All products & services delivered as anticipated; correctly and completely charged, including expected margin, in a timely manner”
There are many variations to, and derivatives of, this basic definition that may affect a Revenue Assurance (RA) functional scope. For example, 'Cost Assurance' is often included in an RA team's remit as it fits well within the framework of operations. 'Revenue Management' may be an overlapping, superior or derived function. There is no absolute right or wrong - each business must define the scope to best suit the specific environmental needs.
In the telecoms sector, Revenue Assurance is generally accepted as a critical business function. And rightly so - a good RA function makes a huge difference to profitability, customer experience, regulatory compliance, and market reputation. Solid RA practice has been proven to reduce complaints and enhance Net Promoter Score (NPS), supporting business growth.
Why Improve Revenue Assurance?
- Increase your margins even when competition is tough
- Capture lost revenue that was previously invisible
- Reduce customer complaints and improve NPS
- Covert troublesome, unprofitable products into revenue and profit drivers
- Remove regulatory pressures on billing and charging accuracy
- Do away with unexpected or unacceptable service costs
- Restructure your business with confidence in the underlying revenue and profitability monitoring and management
- Vastly improve RA operational efficiency and effectiveness to streamline team structure and improve business engagement
- Automate your business insights and drive improvement actions from trusted, accurate data
Packages We Offer
AssuringBusiness provides proven expertise and methodologies to ensure that your Revenue Assurance targets are met.
RA Health-check - a fixed duration and cost review focussed on key product, service and process components to generate rapid results. It is both a tactical tool to identify and implement immediate key changes and benefits, and a strategic tool to lay a foundation for continuous improvement and cross-business alignment. Typical review periods are 2-4 weeks depending on exact scope.
RA Operations Performance Uplift - targeting RA functional performance quick-wins and itemizing a detailed plan for improvement. This review looks at RA policy, process, practice and automation platforms. The goal is to squeeze significantly more value from the existing organization, operational and technology infrastructure deployed.
Revenue Risk Assessment - review of the relevant product, service, and technology components in scope to identify and assess revenue, charging, billing and cost risks. This option enables a more comprehensive review of revenue and profitability risks and may be undertaken for specified product, service or functional areas, or as a broad risk and improvement opportunity assessment. Our approach utilizes data samples and scenario testing to enable evidence driven issue analysis, loss and opportunity assessments.
Advisory and Bespoke Review - our expertise can be leveraged towards specific areas of interest or support as required, for example, identifying the cause of underperforming products, or reconciling interconnect or roaming settlements where issues are suspected. A proposal may be generated following appropriate requirements discussion.
Ready to improve revenues, reduce costs and WOW your customers?
AssuringBusiness takes a pragmatic view to improve entire processes, operations and technologies used, or tweak individual components to enhance performance. Covering any or all aspects of the functional scope and/or business interfaces to optimize end-to-end results.
As practitioners with complex UK-based mobile and fixed line service providers in the early 1990's, AssuringBusiness team members are amongst the industry's early adopters of RA practices. Things have moved on quite a bit since those early days! We now offer a full range of consulting and advisory services to bring our client operations to optimized positions, reflecting the ongoing technology and customer landscape changes that are ever-present in our industry.
You may also be interested in...
Complete the Profitability Cycle with Receivables Management
Getting the cash in the door (once it is correctly charged/billed) is a critical business need...
Better Manage Fraud for you and your Customers
Every CSP/telecoms operator suffers fraud. As do many of their customers. Stop being a victim..know it, find it, stop it.