London, 14 December, 2005: Intec Telecom Systems, a global provider of business and operations support systems (BSS/OSS) for fixed, mobile and next generation networks, has signed a contract with Verizon Dominicana for Intec's InterconnecT Automated Reconciliation (InterconnecT AR) solution. The deal will allow Verizon's Dominican Republic subsidiary to automate the dispute management process of incoming invoices and outgoing bills for interconnection charges.
Verizon Dominicana will use InterconnecT AR to improve its billing processes substantially, and the added capabilities in InterconnecT AR will further enhance Verizon Dominicana's billing and revenue generation.
The deal extends a long-term relationship with Verizon, which has a global framework agreement with Intec for Intec's InterconnecT carrier-to-carrier billing product and its Inter-mediatE mediation technology.
"Adding automated bill reconciliation to its existing InterconnecT system will allow Verizon Dominicana to save time and money on its internal processes, as well as demonstrating best practice in settlements with its partners," said Intec CEO Kevin Adams.
Interconnect bill reconciliation is a time-consuming and expensive process for operators. Such bills commonly represent tens or even hundreds of millions of dollars of both revenue and cost to carriers, and even small delays and inaccuracies in settlement can have a substantial impact on cashflow and profitability.
Speedy resolution of disputes is key in ensuring the robust profitability of an operator.
InterconnecT AR enables automation of the process for comparing interconnect charge information from multiple interconnect accounting systems. It automates bill reconciliation and dispute management processes through exchange, comparison and settlement of aggregated billing data. This helps avoid the overhead of manual handling of individual transactions - reducing settlement time and improving the accuracy of interconnect charges. InterconnecT AR supports both generic reconciliation and reconciliation using established standards such as CODIFI and DETRAF.
Automated reconciliation offers the opportunity not only to speed up the settlement process, but also to make better use of resources, reduce operating costs and streamline business processes. Automatic reconciliation can shorten settlement cycles and therefore significantly reduce the risk of disputes. Cash-flow management is improved, as amounts payable and receivable can be traced and monitored closely and comprehensively at all stages. Automatic reconciliation need not be restricted to a simple comparison of rated information: it can also be used to identify areas of dispute and suggest potential
resolutions. It can also provide automatic adjustments. Financial risk can be further minimised by operators agreeing to pay an amount on the understanding that there will be a later adjustment after reconciliation.
ENDS
For more information, please contact:
Charlotte Villiers
Manager, Corporate Communications
Intec Telecom Systems PLC
Tel: +44 (0)1483 745839 or 745800
Mobile: +44 (0)7917 425667
charlotte.villiers@intecbilling.com
Andrew Rodaway,
Director of Marketing
Intec Telecom Systems PLC
Tel: +44 (0)1483 745800
Mobile: +44 (0)7768 808082
andrew.rodaway@intecbilling.com
About Intec
Intec Telecom Systems is a leading supplier of business and operations support systems (BSS/OSS) to over 360 customers across the global telecoms industry. Intec is world market leader in both inter-carrier billing and mediation, and one of the largest suppliers of retail billing systems. Intec's customer base now includes over 60 per cent of the world's top 100 carriers. Founded in 1997, Intec is listed on the London Stock Exchange (ITL.L) and has over 1,500 staff and 31 offices in 25 countries.
Intec's product portfolio includes:
- Retail billing and customer management
- Multi-service mediation and service activation;
- Inter-carrier billing and settlements including US CABS and ITU-based settlement;
- End-to-end content partner management;
- Optimised wholesale routing and trading;
- Real-time pre/post-paid active mediation and charging
- A fully-integrated solution for IPTV charging, billing and user interaction
Intec's customer base includes, among others, BellSouth Telecommunications Inc., Cable & Wireless, The Carphone Warehouse (UK), Cesky Telecom (Czech Republic), China Unicom, China Netcom, COLT Telecommunications, Deutsche Telekom, Eircom (Ireland), France Telecom, Hutchison 3G, MTN, Nitel (Nigeria), Reliance (India), SingTel Optus (Australia), O2, Orange, Telecom Argentina, Telecom Egypt, Telecom Italia, Tiscali, TPSA (Poland), Swisscom, T-Mobile, Telefonica, Telia, Telkom South Africa, Telstra, US Cellular, Vodafone, VimpelCom (Russia), Virgin Mobile, Vivo (Brasil), XO Communications and Verizon.
For more information, visit the Intec website at www.intecbilling.com