Revenue assurance (or margin assurance as it is commonly known) is the process of ensuring that billing and contracts accurately reflect the commercial agreement between the service provider and its customers. Improving data processes and data quality can improve margins, profits and cash flows outside of fluctuations in demand and dedicated departments now work to reduce the risk to service provider revenue. Billing and collection were previously fairly straightforward exercises but have now become increasingly complex in the current era causing rising concerns over profitability.
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When current billing processes do not adequately reflect the pricing structures of contracts or services provided, it can have a deep and immediate effect on margins and revenues. With thousands or potentially millions of contracts to check, the vast quantities of data involved, data quality issues and manual processes mean that human led data reconciliation operations make it incredibly difficult to verify and investigate revenue leakage. Of even greater concern is the fact that a significant proportion of the leakage cannot be identified or acted on in a timely manner. The need to automate this process with the latest and most innovative technologies has become of key importance.
Leverton utilizes proprietary OCR and Artificial Intelligence technology to identify sources of revenue leakage and resolve the causes of actual revenue loss. Providers will be able to capture data in a consistent and comparable format that can scale up to any number of contracts. By leveraging AI, machine learning can remove the manual burden and accelerate data reconciliation against downstream billing data. Revenue assurance departments gain a single source of the truth for both internal purposes and any disputes with clients. With the automated approach to revenue assurance, you will gain greater revenue visibility, eliminate human errors, and prevent unnecessary losses.
Leverton is applying its market-leading OCR and Machine Learning algorithms to drive value for one of the world’s leading telco companies, supporting their international revenue assurance program to identify and reconcile discrepancies between data in their commercial contract data and billing systems.
Why use Leverton AI?
Reduces data extraction time to less than 2 hours with 24-48 hour turnaround times
Provides full audit trail and highly accurate data
Integrates with leading data platforms