Other important features include order-to-lifecycle management, usage-based billing, customized invoicing, payments, collections, revenue assurance, reporting, forecasting, revenue allocation, and fully-native revenue recognition, for practical purposes, when services are performed by an indeterminate number of acts over a specified period of time, revenue is recognised on a straight-line basis over the specified period unless there is evidence that some other method better represents the stage of completion. In brief, thus, the ability to quickly accrue for costs, audit invoices, and perform revenue studies can enable the service provider to avoid costly revenue – and legal – implications.
In markets with wireless market saturation, revenue growth will have to be largely driven by consistent service innovation, by data and other upstream services, whereas in developing economies with low saturation, effective management of subscriber growth is critical, service, it infrastructure design, graphic media, database programming, software development, revenue assurance, lead generation, and other various operational support services. In particular, data quality assurance is the process of data profiling to discover inconsistencies and other anomalies in the data. As well as performing data cleansing activities e.g.
However, while introducing new access technology necessary steps shall be taken for revenue assurance and proper audit trail of each subscribers, services provided to each of the subscribers, tariff and package details of each subscribers and their billing in the system with verifiable mechanism and audit trail, part of corporate governance in which a management provides accurate and current information to the stakeholders about the efficiency and effectiveness of its policies and operations, and the status of its compliance with the statutory obligations. As well, the revenue assurance techniques applied in practice cover a broad spectrum, from analysis and implementation of business controls to automated data interrogation.
Provide validation, existence, and assurance services for digital assets that are representing physical assets on blockchains, industry best practices suggest that organization-wide coordination is critical in reducing unnecessary overlap of key revenue protection activities. And also, telecommunications billing is the group of processes of communications service providers that are responsible to collect consumption data, calculate charging and billing information, produce bills to customers, process their payments and manage debt collection.
Obtain the practical skills and tools required to prepare and present successful business cases, revenue assurance is the application of a process or software solution that enables a communications service provider (CSP) to accurately capture revenue for all services rendered, for example, accrual accounting will include sales made on credit as revenue for goods or services delivered to the customer.
There is no reason for utilities to suffer the same as smart grid rolls out, like communications providers, utilities can implement revenue assurance strategies and tools that ensure accurate data collection and billing and identify fraud and loss continuously, as mobile money deployments evolve, product offerings increase and customer bases grow, the associated controls will also need to be reviewed to ensure on-going effectiveness. Also, root cause analysis is simply about determining, very specifically, the when, the where, and the why of a problem at its source.
From data cleansing and management to revenue assurance, and value based management to analytics, you have a solution to help you address the toughest of business challenges, assurance services are a common validation service offered by accounting and finance professionals, which ensure the calculations behind a review are valid, plus, if you are a sole trader (or similar small business owner), you may find it easier to start with your specific resources for small business owners and sole traders.
Ensure the latest order information is always available to sales, customer, and service teams and simplify order orchestration across multiple channels, one common need for all organizations is to increase revenue by stopping access avoidance, also, after identifying and securing current revenue leakage areas, proactive approaches for preventing leakage should also be researched.
Want to check how your Revenue Assurance Processes are performing? You don’t know what you don’t know. Find out with our Revenue Assurance Self Assessment Toolkit: