'Revenue management' product to protect cash flows and plug leakages
(This article was published in
the Business Line print edition dated September 5, 2013) – By Vinson Kurian
Thiruvananthapuram/September 04, 2013: '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.
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.
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.