With ever-increasing volumes of data and the development of new revenue streams to keep up with growing service demands, enterprises need to seriously consider the revenue management solutions that are in place. In order to successfully manage a company’s revenue and ensure that losses are kept to a minimum, businesses need to be aware of all processes that could impact the bottom line.
The growing awareness and demand among enterprises has led to a significant rise in the revenue assurance market, which was valued at USD 709.9 million in 2023 and is projected to witness around 11% CAGR during 2024 and 2032, according to Global Market Insights. Recent trends in revenue and business assurance solutions emphasize leveraging advanced technologies like AI and machine learning to gain deeper business insights and minimize potential revenue leakage. Additionally, there is an emerging shift that goes beyond just focusing on the revenue side, which the owners now will need a solution that encompasses the overall health of the business, including aspects like customer experience, operational efficiency and more.
When it comes to revenue management, enterprises have two options to choose from: out-of-the-box and end-to-end revenue management products. The option that an enterprise chooses depends on the business needs, but generally out-of-the-box revenue management solutions do not address real-life scenarios and revenue assurance risks specific to the business processes, products and services. The generic solution does not offer the full in-depth knowledge of all areas of the business needed to fully assess and deal with revenue threats.
End-to-end revenue management solutions, like our Revenue Protection solution portfolio, provides all the tools needed for Communications Service Providers (CSPs) to properly manage and protect their end-to-end revenue chain. Encompassing all activities, through fraud prevention and revenue assurance processes, CSPs have superior revenue intelligence to make calculated business decisions.
Our suite of Revenue Protection solutions allow enterprises to eliminate risks with near real-time fraud detection and prevention, ensuring profitability with holistic revenue management. Encompassing the identification of an issue, investigation, integration with other systems, root cause analysis, actions and closing the issue in one integrated solution allows companies to simply yet effectively deal with any revenue management issue.
With our Revenue Management offering, we are able to analyze the challenges faced by the CSP and configure and process such Event Data through our proprietary detection engine. Once completed, Optimus subsequently takes appropriate configurable action or alternatively creates an alarm, which enables fraud analysts to carry out further analysis and take appropriate action.
Specifically, through our Revenue and Business Assurance solution, enterprises receive comprehensive protection against a myriad of telecommunication revenue threats. Our solution uses a variety of methods, including sophisticated neural networks, to empower CSPs to protect themselves and their profits against the ever-present threat of revenue loss.
It enables CSPs to assess all prospective subscribers at the outset, to identify potential fraud threats or credit management issues before services are provided. The solution also monitors the end-to-end revenue management process to detect potential revenue leakage threats and flags any suspicious or anomalous behavior that could be indicative of revenue management issues.
In order for CSPs to future-proof their businesses they need to understand the risks that ever-increasing demands for services could bring. With the right tools and solutions, forward-thinking CSPs can stay ahead of the competition and ensure that revenue threats and losses are kept to a minimum.
Neural Technologies provides a highly responsive and adaptive Revenue & Business Assurance solution, enabling enterprises to quickly detect revenue leakage incidents as they occur and ensure clear oversight to prevent potential revenue loss by identifying the root cause.
The features of this powerful solution include: