Telecommunications
Forecast your billing and revenue recognition with RecVue reporting.
From the advent of 5G networks to virtual operators leveraging physical networks and tower infrastructure businesses, telecom companies within this sector of continually evolving network sharing arrangements must contend with a wide range of billing and revenue challenges that add significant financial and business complexity to their accounting needs.
Challenges
Massive payment and transaction volumes
RecVue Resolution/Response:
The RecVue platform was purpose-built, using a microservices design, with the ability to process high volumes of data at enterprise speed as one of the key considerations. This solution was designed with agility and flexibility to handle big volumes at speed and scale, to accommodate future product and service offerings as your business initiatives evolve.
Why Its Important:
Financial transactions are typically not singular activities, but rather a step in the lifecycle of business flow, leading to a multitude of additional transactions. Such transaction multipliers drive up the volume of today’s financial transactions so scalability requirements must always consider all transactions to come out of each individual transaction. Creating an invoice or sales order , or any other transaction, can result in a few lines or a thousand lines. Today’s successful enterprises must be able to handle the potential for millions of financial transactions every day.
Resources:
Complexities associated with usage & consumption
RecVue Resolution/Response:
Combining the full power of RecVue’s billing engine with built-in usage billing functionality, the platform provides a configurable system to handle collection and billing at variable frequencies, the capability to collect usage data against individual contract lines, a flexibility in pricing usage according to customer needs and ease of access to manage visibility and reprocessing of usage data exceptions
Why Its Important:
Properly navigating the complexities of consumption-based billing offers benefits including a better understanding of the product or service business value, additional customer flexibility offerings and a more stable product expansion pathway.
Resources:
Rigid contracts with tiered pricing
RecVue Resolution/Response:
The RecVue platform offers an advanced pricing module in which customer-specific rule-based pricing can be configured. The product was designed to cater to the most rigid of contractual needs and complex, attribute-based pricing models. Attribute-based pricing is adept at handling complexities involving thresholds and minimums for billing, as well.
Why Its Important:
By incorporating a solution which can support all manner of requirements for customer contracts and pricing in tiers, potential customers see choice and flexibility. This allows for improved conversion rates as well as the opportunity for subscribers to forecast future services costs for more longterm considerations.
Resources:
Escalating commissions, fees, and tiers
RecVue Resolution/Response:
RecVue’s revenue management module enable automate application controls through key features, purpose-built in alignment with ASC 606 / IFRS 15 regulations. This enterprise-grade cloud solution meets all compliance, audit controls and security standards to efficiently manage and accurately report revenue.
Why Its Important:
Accurate revenue recognition, the ability to properly recognize revenue when earned rather than upon payment, is essential because it directly affects the integrity and consistency of a company’s financial reporting.
Resources:
Billing errors leading to customer dissatisfaction
RecVue Resolution/Response:
RecVue was designed to deliver a bottom line based on accurate reading of a company’s most essential data sets, including trusted billing details, accurately reported revenue and trusted partner compensation details. The platform features a configurable interface to GL for accounting entry accuracy.
Why Its Important:
A billing experience which establishes trust and confidence is critical amid an environment of seemingly endless customer options and expectations. This solid partnership will ultimately help businesses get paid faster, reduce the risk of bad debt and adapt quickly to any changes in customer expectations.
Resources:
Manual data entry and error-prone Excel sheets
RecVue Resolution/Response:
The RecVue platform is built specifically to eliminate unnecessary manual data entry, automate manual workaround and eliminate reliance on spreadsheets by integrating with existing systems to aggregate data and manage your company’s transactional data processing.
Why Its Important:
The role of accounting has transitioned from ‘bean counters’ and budget planners to future-oriented, strategic partners. Outdated tools such as spreadsheets, formerly the backbone of finance and accounting, and the manual processes they promote, must evolve and give way to better tools for the finance team evolution to maintain its pace.
Resources:
Revenue leakage
RecVue Resolution/Response:
The RecVue solution is built to anticipate the constant change in recurring revenue business so companies can keep pace with today’s complexity, reduce a reliance on manual processing and limit pricing errors – main causes of revenue leakage
Why Its Important:
You may be losing out on revenue you weren’t even aware you had, a potential bottom-line impact equating to a 1-5% earnings loss, historically. To learn more about the dangers of revenue leakage and how to stop it, read our executive brief.
Resources:
Revenue recognition compliance
RecVue Resolution/Response:
RecVue’s revenue management module enables automated application controls through key features, purpose-built in alignment with ASC 606 / IFRS 15 regulations. This enterprise-grade cloud solution meets all compliance, audit controls and security standards to efficiently manage and accurately report revenue.
Why Its Important:
Accurate revenue recognition, the ability to properly recognize revenue when earned rather than upon payment, is essential because it directly affects the integrity and consistency of a company’s financial reporting.
Resources:
RecVue Billing & Invoicing For Telecom Datasheet
Learn more about how RecVue’s powerful billing capabilities can be put to use for your specific telecommunications needs.
RecVue Advantages
RecVue offers the industry’s first suite of Order-to-Cash solutions that are purpose-built to fully automate the complex processes for billing & invoicing, revenue recognition and partner compensation in a single solution.
Product and Pricing Catalog
Use configurable, pre-defined pricing models and standard or custom billing cycles.
Contracts and Order Management
Eliminate the paper, PDFs and manual processing and get complete visibility and control.
Usage and Data Mediation
Capture usage data from any source and translate it into standard billing to reduce leakage.
Multi-Attribute Rating and Pricing
Model pricing or rating structures to determine the billable amount. Then optimize revenue based on real-time analysis of your pricing strategies.
Billing and Invoicing
Scale from one-time charges to basic subscriptions to complex usage models with pre-validated bill runs and tailored invoices.
Revenue Recognition and Compliance
RecVue supports the ASC606/IFRS15 and ASC842 frameworks to keep your business GAAP-compliant.
Improve Productivity
Enable your finance team to accelerate period closes, reduce DSO/DRO, and work more efficientlyincrease your revenue.
Insights
Forecast your billing and revenue recognition with RecVue reporting, giving you a 360-degree view into your business.
Partner Management
Automate payment remittance to partners and other third-party vendors easily and accurately.
Revenue and Compliance Should Not be Complicated.
Contact us for a demo to see how RecVue gives you complete control of your recurring revenue contracts