Dreaming up the revenue assurance function of the future

Written by on November 3, 2015 in Guest Blog with 0 Comments

DreamingLiterally, I am a dreamer, especially at weekends when unconscious brain activity is shifting from work-related to free-time and family. I love the fact that the brain produces magic stories which I can enjoy after solid hours of deep sleep.

Most times, I roughly remember what I have dreamt about and sometimes I am able to memorize the stories. The actors of my dreams are usually people with special characteristics who left an impact on me. My dreams usually display quite realistic situations or a challenges which are handled in an unrealistic way by an unrealistic mix of people often without a solution.

Keep on dreaming but wake up!

Occasionally, after a very good dream I am asking myself what I would do differently if the dreamt situation was real – then it is time to wake up and face the real challenges. Anyway, we can definitely learn from our dreams, for example by understanding the underlying hopes, passions, ambitions and even fears. These are all potential drivers to make real change happen.

The Next Generation Telco

Transforming a Telecom company to cope in the new business environment is a massive challenge. I am part of a large business transformation in our company and I recently wrote an article about mastering some of the key business transformation challenges: “The grey swan theory.”

The main message was that current leaders need to make bold investments in radical change programs which are unlikely to pay back right away. The article also emphasizes that ‘grey swans.’ the fast growing talents of a company, should be systematically embedded in the transformation and empowered to carry the change forward as part of their natural growth ambitions.

Effective transformations are true renewal processes shaping the corporate culture and creating ‘new gracious white swans.’ That demands a clear common purpose, clear objectives and metrics all the way from board to the project level and to the people being affected by the change.

The Revenue Assurance Function of the future

Colin Powell once said: “A dream doesn’t become reality through magic – it takes sweat, determination and hard work”.  Admittedly, I have never dreamt about the “Revenue Assurance Function of the future”. Nevertheless, I am convinced that the focus will shift towards the customer.

Multi-business partner eco-systems are evolving which demands the company delivering the service to the customer to guarantee the ultimate customer promise. This is a great opportunity but also bares challenges especially regarding customer agreement fulfillment: It has to be ensured that the services will work, the customer will be charged as agreed and that the service will be further enhanced upon customer’s wishes to keep the customer satisfied at all times.

‘Assurance’ will be more important than ever, especially, when thinking about securing service quality, availability, data privacy and security. First companies are starting to think ‘Customer Experience Assurance’ which is likely going to be a blending of Customer/ Business intelligence capabilities (Customer/business growth focused) with Revenue Assurance assuring capabilities (Risk/ Revenue and profitability focused).

‘Customer experience assurance’ could become the ultimate function to ensure fulfillment of customer promises – that’s my ultimate dream. But I am not dreaming of a super large and important function. My aspiration is that Risk and Revenue Assurance will be embedded in the people’s thinking and acting on a daily basis.

Take the Revenue Assurance survey to strengthen your capabilities now!

What we can do now is to think about the future Revenue Assurance (RA) capabilities and how to acquire them. The RA survey 2016 provides a powerful assessment tool to understand the fitness of business transformation RA capabilities.

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This year’s survey emphasizes RA strategy, people and performance and embeds selected questions as well as area scores of the Revenue Assurance Maturity Model (RAMM) to provide a light benchmark to the survey participant. RAMM v.2 is exclusively provided for that purpose also to TM Forum non-members.

Take the survey now & assess your RA capabilities. Then compare with others and receive strategic input to help your company make dreams come true.

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Rene Felber

About the Author

About the Author: Rene is currently Head of Risks & FRA at Telia Company, Finland. He is currently responsible for managing GRC (Governance, Risk & Compliance), Fraud Management, Revenue Assurance and Credit Control. He has also been the leader of the TM Forum’s global RA survey since 2014, and is responsible for transforming it into an insight based collaborative experience. Rene has over 14 years of industry expertise and has spent 10 years in international consulting an auditing with a background in GRC, RA and outsourcing/ partner management. .

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