Telecoms revenue management comes of age with Intec’s latest release:
2006 Press Releases
- Intec Convergent Billing – Revenue Management Edition
London, 16 November, 2006 – Intec, a global provider of business and operations support systems (BSS/OSS) for fixed, mobile and next-generation networks, has announced the immediate availability of Intec Convergent Billing - Revenue Management Edition, an enhanced version of its highly regarded convergent billing system that will deliver automated revenue recognition, easier regulatory compliance and enhanced revenue assurance processes. The Revenue Management Edition delivers a number of advantages to carriers specifically concerned with the auditabiity and assurance of their revenue generation and recognition processs, including increased efficiency and accuracy of revenue recognition, greater business control and auditability, and easier compliance with regulatory demands through automated revenue recognition and support for company-specific accounting policies.
“A growing need for carriers to comply with regulatory and best-practice revenue management principles has created demand for a new level of capability and control in this area,” said Intec COO Gary Bunney. “Adherence to the accepted accounting principle of only recognising revenue when a service has been delivered is complicated when a service provider offers complex service bundles with a mixture of subscription, one-off, usage-based and other charges. Driven by our customer requirements, we have added powerful new capabilities to Intec Convergent Billing - Revenue Management Edition to allow them to do just that.”
Emerging regulatory requirements resulting from recent legislation in several key geographies demand more stringent internal control over financial reporting. This represents a major technical challenge for operators, due to the complexity of billing for multiple services with different charging rules. Automation of accounting processes helps improve the effectiveness and accuracy of regular financial reporting in this environment. Intec Convergent Billing - Revenue Management Edition greatly reduces some of the most significant costs associated with the required legal and regulatory compliance.
“This solution helps operators resolve many issues associated with the need for compliance with emerging regulatory requirements for tighter internal control over financial reporting and auditability, including developments such as Sarbanes-Oxley or IFRS – and we attach as much importance to helping our customers with these sorts of business issues as we do to our established technical capabilities in areas like performance, scalability and convergence,” said Kevin Adams, CEO of Intec.
Among the many benefits delivered by Intec Convergent Billing - Revenue Management Edition are:
- Increased efficiency and accuracy through automated revenue recognition and support for configuration of company specific accounting policies
- Greater business control and auditability via integration and control of process dependencies between business transactions and associated financial transactions
- Greater ease of regulatory compliance with new corporate governance and reporting legislation, offering assurance both within the organisation and for external stakeholders
- Comprehensive, end-to-end revenue assurance processes
- Improved management information through enhanced business intelligence tools that provide a direct view of revenue, as well as easing the export of data to external reporting and business intelligence systems.
- Enhanced business intelligence and greater control over revenue management processes through an ‘out of the box’ reporting framework and financial dashboard
- Cost savings on rework of errors using exception reporting to detect rating errors before billing takes place
- Optimisation of error management resources by providing information on the most costly or otherwise high priority error patterns.
Intec Convergent Billing - Revenue Management Edition is available immediately.