Inefficient billing and invoicing systems coupled with error-prone reporting processes also pose higher risks of revenue leakage. Incorrect pricing, refund errors, unbilled transactions, multiple freebies to same customer, errors in calculating discounts, undercharging and inaccuracies during service downgrade are some of the most common reasons for revenue leakage. It could also stem from avoidable clerical errors like unsent invoices, incorrect data entries, untracked payments, conversion loss due to exchange pricing and more. In the absence of reports that are not intuitive, settlements that are not transparent and deemed unfair, and inaccurate value exchanges, there is increasing customer dissatisfaction and even customer attrition. The renewals that do take place are not founded in useful insights on customer behavior or an effective value driven relationship. They are not based on profitability of the relationship, leading to loss of revenue.
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