Automated Billing Solution- empowering Finance teams of Telecom Tower Companies
Presently the Telecom passive infrastructure sharing companies are undergoing a global transformation to innovate and meet the changing business operation requirements. Consequently, Tower billing is becoming more complex because of a large number of parameters associated with this transformation. The complexity in the approval process for invoices and delayed payments adversely impact cash flows. Whereas, inefficiency in the billing process leads to disputes between Tower companies and Telecommunication operators.
Even though the transformation brings in a lot of data, the lack of insights in screening reliable data from the collected data package makes the billing process quite challenging. There is also a greater likelihood of making errors while manually handling bills and related information. As a result of this manual intervention, every month the Tower companies lose out nearly $150k per month in the form of non-realized revenue as previously observed by our customers.
Why must companies deploy automated billing solutions?
Multiple other challenges such as the creation of duplicate copies of the master database, ineffective MSA management with operators also add to the woes of the Telecom Tower companies. Whereas billing disputes due to compromised billings question the transparency of the company and create trust deficit.
Such roadblocks consume an enormous amount of time and energy of the finance department. With the constant juggle between spreadsheets, any tiny mistake on one sheet interferes with the entire calculation thereby generating the incorrect bill. The company’s credibility is put at stake and can upset the customers. Thus, to maintain the competitive edge and optimize the performance of the Finance team, companies must consider automation of the entire billing process and transform digitally.
Reduce Billing Chaos
Infozech’s flexible and user-friendly billing solution- iBill is developed keeping such challenges in mind. iBill caters to both energy billing and IP billing related activities which result in timely billing. Further, it helps in minimizing billing errors, stop revenue leakage and ensures that bill management is less chaotic.
Our billing solution is deployed across Asia, America and Africa and used by some of the largest tower companies. The customers get access to real-time finance data which can be easily managed and monitored by the finance department. The historical information is maintained, if a data set changes, it is reflected in the system which is extremely helpful in future audits of billing done .
In the words of our customer, “With iBill, the bill generation process is standardized and there are no ad hoc activities to be taken care of at the end moment. We have observed that our audit findings are now 80% lesser. Also, approximately there is a 40% reduction in the time of billing process for all the operators for a month. Earlier the bills were getting generated within 21 days which has dramatically reduced to 12 days.”
Ensure Timely Billing
The one-time setup of billing rules in our billing system empowers the finance department by eliminating the need for applying the same rules and calculations repeatedly. As a result, bills are generated on-time leading to timely payments from operators. The scalability and performance of the team is improved by a great margin as bill generation, verification and approval speed up.
An integrated billing solution like iBill is straightforward and simple in creating comprehensive reports. The automated reports highlight what impacts the cash flow and the corrective actions that need to be taken. Simplified automated reporting eliminates the need to manually administer tasks by the Finance team and enhances overall business profitability.
An automated billing solution modernizes the billing process, accelerates cash flow and makes it more efficient by saving time. Billing records are maintained and preserved in the system assisting in future audits and performance analysis. Our solution instills more confidence, accountability, transparency and accuracy in the operations of the finance department. To bring operational excellence in your team and your organization deploying a robust automated billing solution should be one of your core strategies.