‘Revenue Assurance’ refers to the collective set of activities that need to be performed by suppliers in order to generate the anticipated revenue following the sales process, i.e. post-signature. Its key components include contract management, service delivery and performance management, invoicing, compliance and relationship management. Ineffective management of revenue assurance exposes suppliers to the risks of revenue leakage, lowered EBITDA, strained client relationships and compliance failures.
Developments in the procurement landscape over the last 5 years (the emergence of multi-sourcing, shorter deal cycles, and cloud computing) have driven home the need for large suppliers to approach revenue assurance in an integrated manner. Traditional revenue assurance models do not support this integrated approach given their distribution across functional and account-level silos, the lack of application integration, and the highly manual nature of the processes.
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Causes of revenue leakage in complex services engagements
Limitations of existing revenue assurance models
Technology-driven, holistic approach to revenue assurance helps boost profitability and relationship capital in enterprise accounts