Governance, Risk & Compliance

Governance, Risk & Compliance

October 18, 2011

cVidya Adds Risk Management to Revenue Intelligence

Obviously, your company can't work without intelligence. Not only the “people smart” kind, but the kind of intelligence that takes information and presents it to you in the way you require to maximize your business. And what more important element to your business is there than revenue?

Revenue intelligence solutions help companies to maximize their margins, improve their customer experiences and optimize the relationship between the various departments of an organization. But there's another important element that is critical to revenue management: risk assessment and management.

Revenue intelligence company cVidya Networks, which provides solutions for companies in the telecom, media and entertainment and service provider space, recently announced the release of ProactiV, which it says is the first revenue intelligence solution to offer integrated risk management.

Based on the TM Forum’s (News - Alert) emerging standards, the solution was designed to enable communication service providers (CSPs) to proactively prevent revenue leakage: ProactiV offers a set of automated tools for ongoing monitoring of risk levels.

While most companies practice revenue assurance (RA) and fraud prevention in a rather reactive way: taking steps only if there are known problems, this method is cumbersome, inefficient and limited in its ability to prevent leakages. In addition, operators generally rely on intuition to identify high leakage areas or use one-off consulting services when initially deploying the RA and fraud solutions.

A wiser decision is to implement ongoing consulting and business support through the use of automated tools that can identify, measure and mitigate risk. cVidya’s ProactiV provides these capabilities.

“Having been in the revenue assurance (RA) and fraud industry for many years and with over 150 customers worldwide, we recognized the growing need to proactively spot areas of revenue leakage,” said Alon Aginsky, CEO and president of cVidya. “By adopting Risk Management methodologies into the RA and fraud practices, CSPs will become more effective in their Revenue Intelligence processes. The revolution in our new offering is seen by providing automated tools with a “consultant inside” that supports these ongoing methods to assist our clients.”

CSPs implementing ProactiV are better positioned to benefit from a top-down, proactive approach to revenue intelligence: management can increase risk awareness and monitor the reduction in exposure to that risk, all in real-time. This combination of risk management with revenue intelligence allows companies to meet and exceed the newly introduced TM Forum best practices (which are embedded into cVidya's IRIS suite).

In addition, revenue assurance, fraud and pricing specialists will benefit from an easy adoption of the methodologies in their day-to-day operations through easy-to-use built-in wizards and knowledge base support.

Tracey Schelmetic is a contributing editor for TMCnet. To read more of Tracey's articles, please visit her columnist page.

Edited by Jennifer Russell

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