Telecom

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:

The Blueprint for Large Enterprise Order-to-Cash

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:

Learn through our ACI Worldwide case study how RecVue helped integrate 80+ usage systems into the billing engine

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:

Learn how RecVue’s user interface provides more flexibility and intuitiveness with our Airport Terminal Services case study

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:

Consolidate Your Complexity

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:

RecVue: Don’t Let Outdated Systems Become Your Legacy, The Fintech Times

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:

The Rise of the CFRO: Today’s Chief Finance Revolution Officer

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 Leakage: The What, the Why and the How to Stop It

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:

ASC 606 Is Already Here. Why Should You Still Care?

The Rule of Four: Consider These Four Benefits to Automating Revenue Recognition Now