Connectiv Solutions Outlines Effective Revenue Assurance
New White Paper Presents Tools for Wireless Carriers to Reduce Costs for Third Party Services and Applications
BETHESDA, MD – APRIL 11, 2011 – Today, Connectiv Solutions, the network efficiency experts, published a white paper on revenue assurance pertaining to wireless telecommunications carriers. Revenue Assurance for Third Party Services: A Practical Approach to Curbing Costs and Maximizing Revenue, examines the core components for establishing cost controls across the enterprise, assuring that billings from outside service and application vendors are correct. With the explosion of smartphones in the marketplace, carriers have turned into more than just telephone operators – they are increasingly brokers of services and content, relying on outside vendors to provide these functions on more sophisticated mobile devices. In this complicated environment, a comprehensive revenue assurance strategy needs to be in place so that revenue and cost streams balance correctly. Over the past eight years, Connectiv Solutions has helped a majority of the nation’s leading wireless carriers achieve significant cost savings across their network operations.
The white paper is available free to carriers and the public at: www.connectiv-solutions.com.
The cornerstone of effective revenue assurance is a precise audit that matches service use against carrier billing systems. To make sure carriers pay only what they owe vendors they need to:
- Understand the business processes which support third party services
- Design and implement controls to guard against errors coming into the billing process
- Complete automated audits, followed by reconciliation of invoice details to internal billing systems
- Clean up and remove records from systems not tied to current customers
- Confirm that controls put in place are being used appropriately
Although simple to state, implementing these changes can prove difficult for legacy business processes and internal teams not adequately staffed to complete the necessary tasks. Under these circumstances, Connectiv Solutions has shown that outside assistance can be cost effective. For example, Connectiv Solutions estimates that wireless carriers may be overpaying one service vendor by as little as 3%, but potentially leading to a significant annual cost of $16.7 million.
Tom Cooper, vice president of management consulting services for Connectiv Solutions, said, “As carriers deploy new app stores like Android Market, the Nokia Ovi Store, and other platforms like brew mp and ISIS, which support carrier billing, more complex processes will become the new normal for revenue assurance. Carriers need to be certain that their evolving business models combine with a solid strategy to tackle these new costs.”
Connectiv Solution’s Revenue Assurance for Third Party Services provides wireless carriers with a framework for assessing the increasing costs from outside vendors. Connectiv’s team of analysts is available to provide solutions for each telecom provider’s unique revenue assurance problems. For further information, please contact Connectiv Solutions at 240-223-8080 or by email at: info@connectiv-solutions.com.
About Connectiv Solutions
Connectiv Solutions, the network efficiency experts, delivers unparalleled visibility and management of telecommunications network usage expenses. Telecom carriers representing more than 130 million customers rely on Connectiv Solutions to reduce operational costs and maintain a competitive advantage. For more information, visit: www.connectiv-solutions.com.
MEDIA CONTACT:
Tim O’Regan
Mobile: (202) 607-3535
teoregan@connectiv-solutions.com
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