‘Revenue management and business assurance’ solutions enable a comprehensive view of performance for companies and industries. They afford clients an opportunity to monitor costs, revenue and therefore business assurance levels.
Some see revenue management and business assurance as a go-to-market strategy, says K. Nanda Kumar, chief executive and president of SunTec Business Solutions based here.
To others, it is the ultimate target the industry should be aiming at, Nanda Kumar told Business Line here in an interview.
SunTec recently introduced its Xelerate suite of products in the revenue management and business assurance space.
Enterprises are at much greater risk now than ever before with respect to reduced cash flow arising from escalating costs, revenue leakage, data anomalies and settlements.
STRUCTURED APPROACH
The ability to track and optimise revenues, improve customer service and satisfaction, manage risk, and reduce operational costs is challenging due to complexity of product management and business processes.
Increasingly convergent services and extended partner chains provide for limitless cases for revenue leakage - right from service delivery to cash collection.
This is in turn has a direct impact on profit and revenue margins. “Therefore, revenue protection is a critical component of our business,” Nanda Kumar said.
These factors compel enterprises to formulate a structured and disciplined approach to revenue management and business assurance.
DOMESTIC MARKET
In the current scenario of various governance scams and auditing issues, SunTec is actively exploring opportunities in the domestic market.
The traditional strongholds have been the European and US markets where SunTec pioneered relationship-based pricing (rate based on value that a customer brings) in the banking space.
Revenue management solutions enable enterprises to charge customers accurately by bringing in transparency and accuracy into the pricing and billing process, Nanda Kumar said.
Communications and digital services providers were the early adapters of these practices; financial institutions and enterprises in other domains followed.
Having a successful revenue management system itself means the business is effectively managing customer experience, security, and data analytics.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.