Businesses know what it is to communicate with their customers by selling quality products and services. Systems containing the details of thousands of account holders mean that companies can send out essential information regularly.
However, sometimes, almost inevitably, when the sheer amount of data stored is so vast, correspondence doesn’t reach its intended destination for a number of reasons – a misspelled name here, an incorrect address there. Before long, this can add up to numerous customer bills remaining unpaid, and large amounts of annual revenue floating in limbo.
At Sagacity, we love providing solutions which empower our clients to resume cash flow into their businesses enhance their processes to prevent reoccurrence and completely cleanse big databases so that they serve as they should.
Does that sound too good to believe? Believe it. In previous cases, Sagacity has been instrumental in recouping up to €58m per annum for our clients – all in money that was owed to them, but not reaching them due to data discrepancies. It’s amazing the amounts which can be recovered from the quagmire.
How much can we recover for you? We examine procedures and policies with a view to improving the overall journey of your customer, hone operational practices, turn ‘Big Data’ into ‘Right Data’, and unclog that steady flow of income you never even realised had stopped flowing. How does Sagacity do this? Via our robust Revenue Assurance solutions and services – powered by QTOX.
What is Revenue Assurance?
Every business suffers revenue leakage – glitches and discrepancies which cause a loss of money. These could be minor system errors or broader issues concerning processes and policies. However, if left untreated, these revenue leakages can add up to significant business shortfalls and increased costs.
With our pioneering QTOX Portfolio Reconciliation technology, which provides advanced data analytics and trusted process control techniques, we identify revenue leakages throughout the client’s customer journey, saving on operational costs and increasing their bottom line.
The process is as follows:
We investigate the data sets and systems of the business to pinpoint leakages
We inform the client of how much these errors are costing them
We plan the solutions to fix the revenue leakage
We deliver the changes to reduces the revenue leakage and provide a lasting solution
The revenue leakage fixes provide organisations with the opportunity to transform their customers’ experience and finally receive the correct amount of revenue they are entitled to. In fact, many companies reap the financial rewards of our approach and tools within months of using our service.
Benefits of Revenue Assurance
Irrespective of the size or maturity of an organisation, our tailored approach to Revenue Assurance identifies and delivers significant cash recoveries, 10-20 times the investment.
Revenue Assurance provides a range of benefits including:
• Reduced revenue leakage
• Cash recoveries
• Improved profitability
• Process efficiencies
• Reduced customer complaints
• Regulatory complaints
• Regulatory compliance
• Control Frameworks
It can take as little as 12 weeks for our Revenue Assurance methodology to pay for itself and identify several €m of Revenue Assurance Opportunities in the same period.
Our Revenue Assurance Methodology
Our approach to Revenue Assurance is robust and supported by Control Frameworks to highlight weaknesses and robust and supported by Control Frameworks to highlight weaknesses and revenue opportunities. This is followed by detailed data analysis to verify our findings and the creation of a series of recommendations for improvements. We achieve this by using our pioneering QTOX Portfolio Reconciliation tool, advances data analytics and trusted process control techniques.
For Sagacity, development of relationships across the operational business are the key enabler of the control framework. We leverage understanding attained through our extensive industry knowledge to the benefit of the client, ensuring optimal results. Under our approach, proven benefits include identification of €116m revenue leakage in a major utility company within the first 24 months.
How QTOX powers our Revenue Assurance Approach
Our QTOX software is central to the reconciliation process. Its sophisticated data cleansing capabilities make it possible for Sagacity to easily and quickly identify inconsistencies in client databases which may be costing them money. This also allows us to accurately pinpoint the specific amount of annual revenue which may be clocked, and begin to get things flowing again in order for that stray capital to come back into the client’s business.
To date, QTOX has helped us to reclaim several €millions of annual revenue for our clients, and one particular case study has led to Sagacity being shortlisted as a finalist in the Credit Today Utilities & Telecoms Awards Innovation of the Year 2015 category.
For more information about QTOX and Revenue Assurance, please visit our website at firstname.lastname@example.org
Coming Soon: Sagacity Solutions Limited talk about their Customer Value Management solutions.