How Quality Data Boosts Your Business Performance

How Quality Data Boosts Your Business Performance

“Data isn’t just information, it’s your company’s lifeline.”

In the telecom industry, quality data matters. It is non negotiable if you want to provide excellence in revenue assurance, business performance, and risk management. Business operations are driven by optimising data analytics and integrating these key areas, and we can help you to do this effectively.

Focusing on data accuracy and using insights to maximise efficiency can give companies a competitive advantage. More than just protecting revenue, this strategy sets the foundation for ongoing growth and effective risk management.

Operational Challenges for Telecom Companies

According to the latest Global Fraud Loss Survey by Communications Fraud Control Association (CFCA), telecom fraud inflicted a loss of $38.95 billion in 2023, an increase of 12% from $28.3 billion in 2020. This demonstrates the importance of using accurate data and proactive measures to prevent all types of telecom fraud.

As well as financial risks, there are other operational challenges facing businesses in the telecom sector.

  • Revenue Leakage Issues

In the telecom industry, inaccuracies in data handling can make a big difference to outcomes, enabling revenue to slip through the cracks. Even small errors in transaction recording and billing can accumulate over time, leading to significant financial discrepancies.

We know that the key to preventing revenue loss lies in meticulous data verification and early anomaly detection, and by implementing thorough data checks, inaccuracies can be identified and corrected promptly. This will ensure that billing is accurate and revenue leakage is minimised.

  • Business Performance Issues

Tracking inefficiencies and areas for improvement can be challenging without a deep dive into operational data. This lack of detailed analysis can prevent businesses from optimising their operations and achieving higher profitability.

We use data analytics to conduct an in-depth review of operational processes, enabling us to identify inefficiencies and establish their root causes to inform strategic adjustments. This process leads to enhanced operational efficiency and increased profitability for your business.

  • Risk Management Issues

The complexity of transactions in the telecom sector introduces a variety of risks, including fraud and operational disruptions. Businesses that fail to proactively identify and manage these risks can threaten the stability and security of their operations and this can be catastrophic.

Early identification of risks, and taking steps to mitigate these, is a critical part of the process of eliminating fraud. Businesses that use advanced analytics and monitoring systems can spot and address potential issues early, safeguarding their operations from potential disruptions and ensuring business continuity.

Accurate Data Must be the Backbone of Decision-Making

Before you engage in any form of analytics, it’s vital to ensure the accuracy of your data. This is the critical foundation for generating reliable insights that guide strategic decisions, so cannot be compromised on.

Data integrity is the core of our confidence in our operations, so we must be able to trust the analytics that drive our business strategies.

An Example in Corporate Risk management

Consider the scenario of corporate risk management, specifically assessing credit risk to mitigate bad debt. 

By analyzing customer credit risk data:

  • Companies can refine their processes and allocate resources more effectively.
  • Targeting customers with higher default probabilities reduces bad debt.
  • The goal shifts from merely understanding bad debt occurrence to preventing it through strategic refinements and engagement strategies.

Using Data to Improve Operations and Manage Risks

Data accuracy is key for making sure we’re making the right decisions and spotting areas where we can do better. It’s all about checking that our information is correct, so we can use it to find ways to improve how we work. Working with Xintec streamlines this process, so that your business operations are even better.

When it comes to dealing with financial risks, it’s important to know that not all customers are the same. Some are more likely to run into financial trouble than others. If we can identify those customers ahead of time, we can come up with a plan to mitigate the risks before they affect our business. This approach helps us to keep our finances stable.

It’s also important to always be thinking ahead. Instead of just fixing problems as they come up, we use data to help us see what challenges might pop up in the future. This way, we can plan for them and turn potential problems into opportunities for your business to grow.

Make the Most of Your Data With Xintec

Xintec knows how important good data is for your business. We’ve built our platform, iGenuity™, to give telecom and utilities companies everything they need to manage their data better. 

iGenuity™ helps you spot fraud, make sure your billing is right, and manage risks. It works in real-time, so you always have the latest information, and fits right into how you already work, thanks to:

  • Modules you can customize for what you need.
  • An easy setup that doesn’t mess with your existing systems.
  • A team of experts who are here to support you in using your data more effectively.

Quality Data Is a Must to Your Business

Having quality data at the heart of your business isn’t just a good idea anymore, it’s necessary. With Xintec as your partner, you get access to the know-how and tools needed to make your data work harder for you. 

This means better operations, less risk, and a stronger position in the telecom industry.

Join us at Xintec, and let’s turn your data into one of your biggest strengths. Get in touch to see how we can work together to improve your operations, cut down on risks, and help you stand out in your field.

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Sean Killeen - Business Dev
About Author

Sean Killeen

I bring over 25 years of experience in the telecoms industry, having worked with several leading companies across Europe, like Western Wireless International, EDS Germany, and Billing Services Group USA. My journey has been centered around strategy and sales, with a strong passion for technology and innovation. I take pride in my expertise in entrepreneurship and my commitment to values-based selling. Beyond the corporate realm, I enjoy public speaking, developing talent, and leading with a focus on nurturing and guiding future leaders.
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Sean Killeen - Business Dev
About Author

Sean Killeen

I bring over 25 years of experience in the telecoms industry, having worked with several leading companies across Europe, like Western Wireless International, EDS Germany, and Billing Services Group USA. My journey has been centered around strategy and sales, with a strong passion for technology and innovation. I take pride in my expertise in entrepreneurship and my commitment to values-based selling. Beyond the corporate realm, I enjoy public speaking, developing talent, and leading with a focus on nurturing and guiding future leaders.