When it comes to industries that are both highly profitable and highly regulated, telecom ranks near the top. At one of America’s largest global telecommunications providers, they defined a direct connection between commercial billing activities and their ability to consistently deliver on customer satisfaction and regulatory compliance.
The inherent complexity of multi-layered enterprise commercial relationships along with the neverending cycle of MACDs created an overwhelming task of ensuring accurate billing every cycle and reinforcing customer retention. With Pramata, the company has implemented a Billing Compliance solution that makes sure they are billing the right contract for the right asset and the right price every time.
Automated audit of millions of billing line items to quickly identify discrepancies and errors
Created an accurate Commercial Relationship Baseline and refresh daily to maintain billing compliance for every enterprise account
Increased customer satisfaction with accurate, reliable billing down to customer entity and product/asset level, that makes the company incredibly easy to do business with
Frequent MACDs within large enterprise accounts created untracked changes at the individual entity and product/service level that translated into costly, recurring billing errors
Mismatched information between contract and actual bills created daily headaches and productivity drains on finance team
Manual, difficult to audit billing process posed significant risks to regulatory compliance and profitable commercial relationships
Pramata Billing Compliance Solution Benefits
Created an accurate baseline of product, service, fee type, price, volume, location and timing for every commercial relationship across the customer portfolio
Billing analysts easily see where tiered pricing may be misapplied or there is an incorrect bundling of services
Instituted an ongoing, systematic audit process to manage MACDs and other types of customer account changes, making sure billing team always sees the latest contract terms, including specific MRCs and discounts.