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Revenue Assurance Services. Revenue Assurance Defined Increase your margins even when competition is tough Capture lost revenue that was previously invisible Reduce customer complaints and improve NPS Covert troublesome, unprofitable products into revenue and profit drivers Remove regulatory pressures on billing and charging accuracy Do away with unexpected or unacceptable service costs Restructure your business with confidence in the underlying revenue and profitability monitoring and management Vastly improve RA operational efficiency and effectiveness to streamline team structure and improve business engagement Automate your business insights and drive improvement actions from trusted, accurate data.
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If you look at the early days of revenue assurance, the personalities drawn to this job were like the pioneers who settled the American West. They left civilization to go homestead in the wilderness, and there was no one there to tell you what to do. Now the only people who could survive a place like that were the creative, imaginative — even quirky people.
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But you almost had to have personalities like that because who else was going to go out there? It was a wonderful time. At some point you need to bed down, build a town, and hire school teachers. So RA is going through that phase right now: building out RA as an ongoing institution. Now as a result, some of the pioneers have left already because it got too boring. And these are RA experts from many different backgrounds, working in several countries — and the experts come from carriers, software vendors, engineers, and universities.
Some chapters get into details, like explaining how you create a control framework. So following a consistent model or template has been a very good thing for RA.
The challenge is to keep that consistency from becoming a straitjacket that discourages the pioneers and imaginative people. Up to now, the RA software market has been all about dedicated, specialized software.
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However, the RA software vendors are threatened by new players coming in and lumping RA with more generalized business intelligence. Likewise, the current RA vendors see the market getting saturated, so they also seek to expand into new analytics areas. In other words, the consensus that drove the industry is falling apart.
So maybe that means we should go back to where we were in the beginning: go back the time when RA was a place where people were comfortable mixing up people skills, process skills, and analytic skills — and now we can throw more technology into the mix too. Today you can crunch out a big analysis with lots of data in a very short time, so instead of turning RA into a place of boring, intensive audits, we can apply analytics to look at various areas and the frequency depends on how much risk we feel there is — how much is at stake.
And when you do that, you relieve the RA department of the everyday task of monitoring.
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We can take on a more strategic role. And we can start asking important questions like: How did things go wrong in our business?
And where should we be putting our emphasis to improve? And in that world, the analytics is used selectively to look at problem areas without being prisoners of looking at data the same way every day. Some places will prefer a centralized function and others are happy to spread the work around to people in other departments. If you widely distribute the burden and responsibility of RA, a small group of people may suffice. And it can become bigger. It looks at revenues, costs, margins, and how well you utilize your assets and how well your business is executing against its strategic goals.
And though we appreciate the power of analytics and information, we are not a slave to it. Eric Priezkalns is one of the editors and founders of talkRA , the revenue assurance blogging site.
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Eric splits his time between freelance consulting and his various passions, which include creative writing. Eric has specialized in the field of risk and assurance for communications firms since he qualified as a chartered accountant in Contact Eric via. About the Expert. Here we interview a high Google ranking website author who shows how to communicate with power on any subject via the web.