What Is Revenue Assurance and How Does It Work?

Revenue is the fuel that powers your business operations. If your car was leaking fuel, you’d introduce measures to stop that waste as soon as possible. The same is true of your business revenue.

Revenue and business assurance are vital functions for protecting and maximizing the revenue your enterprise generates. That isn’t just about protecting revenue value you’ve already generated, but ensuring that you receive the greatest benefit from potential areas of opportunity too.

Whether you’re a communication service provider (CSP) in the telecoms industry, or an insurance company working in financial services, accurately capturing the greatest value from your revenue possibilities is essential to ensure effective, competitive, and sustainable business operations. 

What is revenue assurance?

Revenue assurance represents the systems, technologies, and processes which enhance oversight on profits, revenues, charging, and cash flows, and allow enterprises to accurately capture the full value of potential revenues for any and all products and services offered. 

At Neural Technologies we believe good data systems are at the heart of that process. Our own sophisticated Revenue Assurance solution ensures accurate charging, billing, and accounting of all revenue generating events from both customers and partners. It incorporates all standard processes for revenue assurance in order to mitigate revenue leakage and quickly identify and alert businesses to the root cause of any such vulnerabilities.

What is business assurance?

Business assurance solutions are designed to improve business processes and oversight in order to mitigate against operational risks such as application risks, billing risks, money laundering, tariff and rating risks and more. It also provides key business benefits in process assurance and margin assurance, helping users quickly determine and ensure expected margins in product offerings, agreed tariffs, rates, costs with partners and other elements.

Like revenue assurance, business assurance in the modern landscape hinges on capturing, assessing, and acting on the wide range of available business data in order to identify and respond to existing and emerging risks. Neural Technologies’ own Business Assurance solution provides automated and semi-automated controls and monitoring tools to identify and resolve risks, greatly improving business process management. 

How can I unlock value with revenue assurance solutions? 

Business and revenue assurance is fundamentally a question of oversight. If you can identify where and how revenue leakages occur, you can engage interventions to reduce that loss. It’s a simple concept, but one that requires complex understanding in today’s data-rich landscape.

This challenge is particularly acute for communication service providers (CSPs), operating in a data-rich telecommunications landscape. That data provides huge opportunities to optimize processes and enhance the efficiency of business operations, but it also provides a massive weight of data that must be captured and understood.

How can Neural Technologies help prevent revenue leakage?

Neural Technologies’ Business Assurance and Revenue Assurance products offer automated and semi-automated solutions, including use of advanced machine learning functionality, in order to provide an effective risk management solution for this dynamic modern ecosystem.

Neural Technologies’ Revenue Assurance solution helps you capture and identify discrepancies accurately, prevent and control revenue leakages rapidly, and recover and optimize revenue growth effectively. 

Our Optimus Platform offers a flexible, scalable data management solution, meaning it can quickly adapt to your business operations. It can gather a wide range of data, both structured and unstructured, and integrates seamlessly with both new and legacy data systems. 

It includes unlimited data source integration and data quality automation, allowing configuration for any data source or format in real-time and batch processes. It provides measurement, trend analysis, and reconciliation that compares and measures inconsistencies from collectiation and reconciliation, with automated alarms and dashboard. The solution also includes end-to-end integrity checks on charging platforms for validation of charging and recharging.

The Revenue Assurance solution includes standard packages for key processes such as individual source trends, multi-source reconciliations, profile and service assurance, balance movement checks, invoice reconciliation, configuration assistance, and billing assurance. Insight case management and data mining tools allow users to drill down into dashboard and reporting, supporting t users in exploring data in detail, providing a powerful investigative tool to rapidly analyze and identify any incidents.

It provides a wide range of benefits to power up your revenue assurance for your enterprise:

  • Reduce revenue leakage. Quickly identify potential revenue leakage incidents proactively and in real- or near-real-time.
  • User-friendly analytics. Simple user-friendly analytics and customized reporting to empower human analysts. 
  • Automated and semi-automated. Automated or semi-automated operations to provide rapid decision making in a data-heavy landscape.
  • Proof-positive operation. Demonstrates active protection of revenue streams for positive proof of value.
  • Rapid ROI. Quickly delivers return on investment with comprehensive protection to boost revenue savings. 

What are the benefits of business assurance from Neural Technologies? 

The right business assurance solutions enable organizations to establish effective control frameworks around critical business processes. That means delivering appropriate oversight and process flow to eliminate process risks and optimize operations. 

Neural Technologies’ Business Assurance product includes applications to support data collection, control setup, data analytics, and automated actions that enables end users and business users to make decisions in a timely manner, optimizing processes and allowing easy intervention of corrective actions where needed. 

Ultimately, good data delivers good oversight. Our Revenue Assurance and Business Assurance solutions provide data quality assurance with enhanced user experience to validate the accuracy of detected issues as real revenue or business challenges. This advanced data solution also makes it easier to track down discrepancies with rich data insights and trend and analysis visualizations.

 By integrating a wide range of data sources and types into one user-friendly platform, Neural Technologies’ solution provides optimum oversight for an enterprise, meaning they can be confident that their business processes are as efficient and risk-free as possible.

That includes key processes as part of a customer or business timeline, including risk assessment to reduce onboarding risks, tariff and rating assurance to ensure that tariff revenue is not lost, billing assurance to ensure low-risk billing decisions, mobile money solutions for secure and low-risk transfers, and anti-money laundering to reduce regulatory risks. Neural Technologies’ Business Assurance solutions also cover areas such as wholesale assurance, commissions assurance, margin assurance, and partner invoice assurance.

Business assurance from Neural Technologies delivers valuable benefits across your business processes:

  • Reduce risk. Comprehensive data solution which quickly identifies business process risks to inform effective intervention.
  • Timely mitigation. Automated solutions which can respond in real- or near-real-time, reducing revenue risks and improving business process management. 
  • Margin assurance. Quickly determine and ensure expected margins in product offerings, agreed tariffs, rates, costs with partners and other key activities.
  • Clear business insight. Business insight with intuitive data analytics and customizable reporting, backed by AI/ML functionality to identify anomalous or high-risk actions. 
  • Enhanced customer experience. Proactively adapt and address customer needs and demands in billing, tariffs, invoicing, and business processes to deliver enhanced customer service and experience. 

Find out more about our Business Assurance and Revenue Assurance solutions to discover how Neural Technologies can optimize your business processes and reduce revenue leakage

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