Reimagining Business Assurance for CSPs through Next-gen Revenue Assurance Services
Today, revenue leakages and fraud management are major challenges for Communication Service Providers (CSPs). The exponentially growing digital ecosystem furthermore adds complexity to revenue management. This includes Partners (OTT players like WhatsApp, Spotify, Netflix, Viber etc.), Technologies (Big Data, Internet of Things, Robotics, Artificial Intelligence etc.), Networks (4G, 5G, Fiber net, coaxial cables etc.) Services and Bundles (Triple Play and Quad Play) and Business Models (Usage based pricing, Pay per use, Subscription based pricing etc.).
In addition, around 20%-30% of revenue leakage issues can be attributed to data quality and integration problems in the areas of CRM, billing, inventory and supplier records.
Typically, the key challenges faced by CSPs include:
- Lack of centralized revenue assurance functions
- Poor coverage of revenue from new revenue streams
- Sub-optimal delivery of incremental value to other business functions
- Lack of customer centric process across all business functions
- Inadequate coverage of revenue from new revenue streams
- Higher degree of reactive strategies to proactive ones
- Poor automation of reconciliation processes for Billing, Provisioning and Mediation across networks, products and services
Next-gen Revenue Assurance Solution
VirtusaPolaris offers world-class services that go beyond traditional revenue assurance and delivers business assurance to CSPs. Our solution provides robotics driven process automation, analytics driven revenue assurance processes and data integration and quality tools which builds a proactive and preventive revenue management platform than a reactive one. Our solution also delivers customer centricity by driving business assurance and across product lifecycle (Explore, Sell, Build, and Run opportunities).
- Improved savings up to 30% via spend vs bill reconciliation engine across customers, CSPs and supplier
- Improved sales process up to 25% by rationalizing order flows, eliminating manual steps and employing data quality gates
- Reduced credit notes up to 40% by proactively identifying potential areas of revenue leakage
- Automated auditing of supplier contracts to minimize discrepancies up to 50%
- ROI analysis across customers, suppliers and CSP organizations