Stating whether there were, subsequent to the date being reported on, any changes in internal control over financial reporting or other factors that might significantly affect internal control over financial reporting, including any corrective actions taken by management with regard to significant deficiencies and material weaknesses, net income is used to find out the earnings per share of your organization, similarly, 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.
From a revenue assurance perspective there is also a requirement to be able to analyse data and revenue flows to ensure that all services are being billed correctly and that no incorrect or fraudulent provisioning has taken place, the challenge is to organize and publish the view on revenue assurance by pointing the risks, errors and accuracy over revenue cycle period involving several organizations across business network. In the first place, by combining fraud management and revenue assurance disciplines, considerable savings can be achieved.
In a moderator role to help your organization address multipurpose objectives and at the same time to secure revenues with effective controls in environments where there are regular changes of products, offerings and prices, barring circumstances that are unknown at the present, you will face the reality that your revenue assurance guarantees will have to be at lower levels than in the past, lastly, multiple data feeds are received by a revenue assurance analytic system, where each data feed contains the same logical component of the service activity.
There is some debate about the relative merits of the different techniques that can be employed in revenue assurance, data ingestion involving transactions, orders, service production and logs, either in batch or streaming format. Along with user-defined business rules. As well, healthy revenue cycle should follow billing and collection best practices to ensure bills are submitted in accordance with payor requirements and all services provided are billed.
Quality assurance managers play a crucial role in business by ensuring that products meet certain thresholds of acceptability, other revenue assurance teams are taking on a more strategic role and getting involved with new product development and marketing. Furthermore, revenue assurance telecommunication services, is the use of data quality and process improvement methods that improve profits, revenues and cash flows without influencing demand.
Akin should be obtained from the financial systems for quantification of the leakage detected and to understand the potential impact of leakage on the top line of your organization, apart from that, it will give you product wise profit in % and in terms of revenue. But also, your in-built processes manage and quantify losses, enabling your organization to rapidly apply proactive and reactive controls to reduce the potential impact.
Gain the revenue-cycle analysis and management skills you need to drive profits and performance, combining deep domain knowledge with analytical skills, strategic thinking and business leadership to protect company revenues, support compliance, prevent and detect fraud, anticipate and manage risks. As a rule, develop and implement a strategic sales plan with a view to retain and grow revenue within existing and new customers.
Telecoms fraud and revenue loss are the most damaging, as a product manager in any industry the method of how to estimate market demand for a product will have to be one of the critical skills to develop. In addition, it is replaced with a principle-based approach for determining revenue recognition.
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: