Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
2Activity
0 of .
Results for:
No results containing your search query
P. 1
Business Assurance More Than ERM

Business Assurance More Than ERM

Ratings: (0)|Views: 60 |Likes:
Published by AssuringBusiness
Applying Business Assurance principles combining
Revenue Assurance and Risk Management practices in the
Telecommunications, Media and Entertainment sectors
Applying Business Assurance principles combining
Revenue Assurance and Risk Management practices in the
Telecommunications, Media and Entertainment sectors

More info:

Published by: AssuringBusiness on Mar 10, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

06/10/2010

pdf

text

original

 
1
Feature
Business Assurance - More than ERM
Applying Business Assurance principles combiningRevenue Assurance and Risk Management practices in theTelecommunications, Media and Entertainment sectors
Introduction
Enterprise Risk Management (ERM) is a goodconcept and a fundamental part of what we shouldbuild into our business framework. But what aboutall the good stuff that really adds value to thebusiness? Customer and stakeholder focus, costcontrol and profitability, managing and influencingthe market and environmental factors that affectyour business
 –
what about getting to grips withthese whilst managing risk?Business Assurance deals with these issuesthrough visible business alignment and focusdemonstrating active support for the business andremoving the perception of negativity oftenassociated with various aspects of riskmanagement; primarily of holding the businessback from its goals. At some point, every businessfunction will have had some form of negativeperception of the various business units engaged
in managing risk. It’s time we changed that
perception.
We can’t go any further without a mention of the
eTOM (enhanced Telecom Operations Map)Business Process Framework and theTeleManagement Forum. An excellent institutionand driving hard to implement operational bestpractice throughout the industry. An admirable anddifficult task and clearly the Forum is makingsignificant strides forward and many participants/members are now reaping rewards. Within theeTOM framework, there is an ERM model thatseeks to ensure the implementation of appropriatebusiness processes to manage Fraud, Security,Revenue Assurance, Audit and IntellectualProperty. A significant overlap with BusinessAssurance, no doubt, but what we are seeking todo with Business Assurance is to take a further step forward
 –
genuine coordination of everyrelated Business Assurance business function andactive, invited participation in the business. Nolonger an afterthought, more a required participantin business planning, operational managementand strategic direction for the business to besuccessful.Why should Business Assurance be so highlyregarded? If you could add significantly to your bottom line, or entice more large corporatecustomers to your network, or reduce retail churnin highly competitive markets
 –
would this makeyou listen? The problem historically with manyaspects of ERM has been the negative focus of possible losses. Clearly, avoiding and managingrisk is an essential element of BusinessAssurance, but when you consider all the positivereturns that you can touch and feel, then these willmake a big difference
 –
not just to the Board, butto all stakeholders, customers, suppliers; currentand potential. More market influence, morerevenue, better cost control, greater profit at theproduct, service and corporate level. But doing itin a way that is not seen to be obstructive tobusiness development. Not hindering thosecharged with making more money, or improvingcustomer experience, but giving them the tools todo what they do best in a way that helps them get
even more from their efforts. That’s what Business
Assurance is about
 –
 
it’s a risk management
cocktail with a big twist of business commonsense.
The Role of Revenue Assurance
Revenue Assurance has been with us as a
concept since the early 90’s. But only in recent
years do we see a concerted focus on this aspectof our business operations on a wide scale.Revenue Assurance has been vindicated throughhard-won evidence of the reality that everything inour technology, organisation and operationalinfrastructure does not always work 100%
Business Assurance | Revenue Assurance | Fraud Management | Receivables Management
 
Feature
2
Business Assurance - More than ERM
Business Assurance | Revenue Assurance | Fraud Management | Receivables Management
Applying Business Assurance principles combiningRevenue Assurance and Risk Management practices in theTelecommunications, Media and Entertainment sectors
correctly! We are so reliant on the integrity of our switches, transport systems, service platforms,mediation, billing, collections and provisioningsystems that any small logic error, or technicalglitch, can result in significant revenue leakage or increased cost
 –
and with the data volumes oftenconcerned, this can be many millions of dollars in arelatively short time period. And when you alsoconsider that us humans are also prone to the oddmistake, then without some form of controls inplace we are certainly going to affect both the topand bottom line.Thankfully, Revenue Assurance has been gettingto grips with this conundrum. We have seen adistinct and wide recognition and understanding of the issues now emerging globally. And as we spur further into the digital, IP based, high-speed worldwhere consumers want everything, and they wantit now, we will find even more opportunity for cracks in our infrastructure to cause us pain.Revenue Assurance is the thread through therevenue stream
 –
not just focussing on revenues,but also on the control of unnecessary costs
 –
 optimising profitability. This in itself is a steptowards true business focus, towards BusinessAssurance, but there is more to come.With an increased focus on Revenue Assurance,we are also seeing some businesses look to thebenefits of integrated functions, in particular Revenue Assurance, Fraud Management andReceivables Management, but there are so manyother areas that can complement each other.
Business Assurance Overview
With the power to access and better utilise dataand knowledge from around the business, we arewell positioned to consider the next evolutionarystep in optimising our profits and customer experience; an even more integrated businessapproach to managing risk and profitability.
 
Feature
3
Business Assurance - More than ERM
Business Assurance | Revenue Assurance | Fraud Management | Receivables Management
Applying Business Assurance principles combiningRevenue Assurance and Risk Management practices in theTelecommunications, Media and Entertainment sectors
Let’s jump ahead a little to an industry that has
highly converged technologies, high-speed multi-media access anywhere and its own equivalent of a banking infrastructure to manage the inevitableincrease in e-commerce (t-commerce, m-commerce etc.). So many more points of interconnection on whole new levels. So many newand evolved technologies. And so, so many morebusiness processes to make it all work. Notforgetting the ever increasing global mobility of consumers.With the evolving industry, there will be evolvingchallenges and opportunities. And with theincreasing overlap between communications,media and financial domains, will come the needfor even greater governance. Our businesses needto be prepared not only for the inevitablegovernance obligations that this will bring, but alsofor the opportunities to build business models thatwork with high-integrity and profitability as a focusfrom the point of concept throughout delivery andoperation.Recognising what is on the horizon brings theconcept of Business Assurance to life in a realway. Let us look at the potential for greater interaction between the various entities in our business. Most business areas are touched byBusiness Assurance:
Marketing
 
 –
not only helping to position thebusiness as a trusted entity in the eyes of thecustomer and industry as a whole, but alsodesigning profitable propositions with positivecustomer experiences based on inputs fromBusiness Assurance resources.
Product Management
 –
working closely with themarketing team to design and implement assuredproducts and services, driving the proactiveattention to Business Assurance as the services
are designed and built. This ‘Product andInfrastructure Assurance’ process is an essential
preventative measure in managing risk andprofitability.
Sales
 –
delivering the revenues on thepropositions created by Marketing and ProductManagement. This is clearly the pointed-end of thebusiness and as such needs to be carefullymanaged to secure good customers, who will staywith the business, at lowest cost. Fraud and creditrisk is an issue at the front-end, but also this isoften where critical process and system failureslead to revenue leaks downstream; incorrect
service definitions, selling services that don’t exist
and so on. A robust sales and order managementprocess will negate many risks and enrich thecustomer experience.
Customer Services
 –
reducing complaints anddisputes, predicting and managing churn andimproving the ability to up- or cross-sell productsand services. There are many aspects of Customer Relationship Management (CRM) thatare influenced by a strong approach to BusinessAssurance and the various aspects of data thatwould be analysed within.
Information Systems and Networks
 –
improvingthe confidentiality, integrity and availability(security) of systems and data and the efficiency of the technology and related processes thatunderpin the business operations.
Billing and Charging
 –
ensuring accuracy andreducing the risk of revenue leakage or inappropriate cost exposure.
Credit and Collections
 –
reducing risk exposure,aged debt balances and bad debt levels. Generallyimproving cash-flows whilst improving relationshipswith customers using intelligent systems andprocesses.

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->