A good Revenue Assurance software platform will play a key role in mitigating risk within a business. It can provide assurances in relation to the accuracy and completeness of the billing process; it can address regulatory concerns; it can be used to manage customer complaints; it can help reduce customer churn; it can assist in identifying network issues, etc.
Getting tired of working through Excel tables, spreadsheets, etc.?
What inevitably spikes the interest of a Revenue Assurance (RA) analyst is uncovering evidence of revenue leakage somewhere in the organisation.
We have always been aware that while, as an industry, our Fraud and Risk Managers are performing risk reviews, and planning and sharing intelligence to try and stay one step ahead of the fraudsters, those we are planning strategies against (ie. the fraudsters), are doing the same to try and stay ahead of us.
Chief Financial Officers (CFOs) or Finance Directors (FDs) play a pivotal role at company leadership level, helping to make crucial financial decisions and leading the execution of those decisions.
They also know that accounting – the backbone of measuring business performance – is a black art of sorts, masquerading as a science.
By adopting a Revenue Assurance approach, they can uncover the story behind the data, sharpen their decision-making ability, and drive new growth opportunities for the company.