Organization needs enhanced confidence in recognized profit. Traditional methods of one-time audits or testing in a mock environment are good, but they keep you worrying every time you remember the past event or known weakness. Revenue Assurance is a business process to identify, measure & prevent the risk point of revenue leakage – the difference between expected revenue and actual revenue – for minimum opportunity loss.
Claptek’s Digital Twin for Revenue Assurance analyses the revenue stream processes identifying problems of revenue generation to increase the profitability
Claptek’s Digital Twin for Revenue Assurance analyses the revenue stream processes identifying problems of revenue generation to increase profitability. The Digital Twin iDT is free from the challenges of running a business on its platform. Its role is to be a twin on the revenue computed and run in parallel when the processing takes place: -
1. The entire limitation of one-time testing in a test environment, intermittent revenue audits giving limited as on date view, are all eliminated as this system runs in parallel to its TWIN.
2. Identify real gaps in revenue charged and recover losses, but also provides bigger opportunity to correct systems, processes or people.
3. Brings Matured Governance framework and enhance the entire boards confidence in the P/L of the organisation.
4. Built regulatory and customer confidence.
5. Have delivered benefits several times its investment.
Digital Twin iDT Highlights :
Revenue snapshot- Provides a holistic and broader view of revenue streams with business intelligence.
Realtime dashboards- Realtime dashboards to quickly and effectively identify the revenue leakages.
Trend analysis- Inconsistency gap and trend analysis powered by intelligence suggesting corrective actions
Accurate information- End-to-end accurate billing, contracts and serviced products information that minimises errors.
Cross integrations- Tight integration with other risk and control functions throughout the organisation
Reports & analytics- Combines powerful analytics with comprehensive reports for better decision making.
Digital Twin Benefits -
Increased profits - Increase profitability and mitigate revenue leakage by reconciling consumption, billing information, contract terms and serviced products.
Optimised processes- It continually optimises your organisation's revenue chain to improve the bottom line and establishes an ongoing process to avoid future leakage.
Better decision making- Strengthens the decision making by serving as an aggregation point for your organisation’s revenue streams and possible leakages
Rapid monitoring and Validation- Constantly monitors and Instantly validates Pay-outs, Charges, bonus etc., before it is being paid or being processed which results in ensuring 100% coverage of transactions.
Comprehensive Reporting- Precise reports on near real-time basis, to prevent revenue leakages and ensure correct pay outs / charge with exception reports provided on a concurrent basis, to enable foolproof system
Depends on the product subscription model.
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