Revenue Protect Limited
About Revenue Protect Limited
Revenue Protect specializes in giving advice about assurance and risk to the electronic communications industry. Customers can rely upon that advice to be detailed, honest and comprehensive.
Revenue Protect is the company set up by Eric Priezkalns to provide freelance consulting services to select clients. Since then, it has evolved into an umbrella for various projects, including the Commsrisk news and information hub and a book, Revenue Assurance: Expert Opinions for Communications Providers. Whatever the project, the goal remains the same: to deliver good and honest insights that set a benchmark for excellence.
What is Enterprise Risk Management?
Risk management is the practice of systematically dealing with uncertainty. Many kinds of uncertainty affect a wide variety of business decisions every day; Enterprise Risk Management (ERM) is the collective governance of all kinds of risk management. The purpose of ERM is to enable top-to-bottom alignment of the risks taken by a business with the level of risk it should be taking. As such, the ultimate aim is to show investors, government and other stakeholders that the business is taking an appropriate level of risk for the kinds of returns it seeks to generate. To do this requires a methodical approach and healthy doses of pragmatism and common sense, in order to make risk management effective and meaningful for everyone in the business.
What is Revenue Assurance?
Revenue assurance is a discipline that deals with operational risks that can severely damage financial performance. Empirical observation has shown over many years that the typical communications provider is full of “bugs” that cause it to undercharge, overcharge, incur unnecessary costs and commit other avoidable errors. The various techniques employed in revenue assurance can “debug” both systems and human processes, releasing value at relatively little cost. The trick is to use the right revenue assurance techniques for the business, which requires both an open mind and experience to judge the most efficient and effective ways of finding and preventing the biggest bugs the provider is likely to suffer from.
There are many other ways of explaining revenue assurance. The TM Forum, the world’s leading telecoms trade association, describes revenue assurance as the use of data quality and process improvement methods that improve profits, revenues and cash flows without influencing demand. Many firms emphasize an approach that suits their particular skills and experience. In contrast, I believe there are many ways to deliver revenue assurance, but only one that is best for each business. A good consultant works with a business to understand its real priorities and then, if needed, engages the right mix of experts and specialist suppliers to meet the customer’s needs.
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