Truenorth’s Revenue Assurance solution uses our process-management methodology and software tools aimed at the ultimate goal: securing and protecting our client’s income. To date, that has led to the recovery of over $550MM in “lost” revenue. The goal is achieved through the implementation of business strategies that improve the quality of business practices, achieving an increase in billing steadily over time through monitoring tools aimed at stabilizing processes, continuous monitoring of improvement, and tracking head-on deviations and anomalies.
To establish a successful Revenue Assurance Program for your corporation, be advised that it needs:
- To be part of your business objectives and be part of your company culture
- To involve many business units, like Marketing, Finance, Sales, Customer Service, IT, Logistic, Human Resources, and others, to reach an effective solution
- An empowered leader orchestrating all Revenue Assurance activities and its sustainability
- Adequate and measurable controls to correctly establish the return on investment
At Truenorth Corporation we are keenly aware of the importance of managing revenue losses. We typically serve high-risk revenue clients. We have implemented our revenue assurance program within the Puerto Rico Aqueduct and Sewer Authority (PRASA) and the Power and Energy Puerto Rico Authority (PREPA) to manage their commercial losses in reducing non-revenue index.
Using our proven methodologies, we create strategies to identify gaps in business processes such as:
- Register of Users
- Meter Reading Activity
- Billing Cycle and Process
- Service Disconnection
- Customer Care
By implementing our methodology and software tools we improve the quality of business processes, achieving an increase in cubic meters and KWh billed steadily over time through monitoring tools. These tools are most effectively used in high-risk areas where erosion is already occurring or the risk of erosion due to fraud is increasing.
We have the operational capability to conduct ongoing programs of revenue-loss management. These programs focus on the following critical factors:
- Detecting clandestine customers
- Recognizing unallocated meters
- Identifying meters
- with zero consumption
- with low consumption
- Providing reading abnormalities solutions
- Awareness recognition of rising fraud
- Identifying clients with inaccurate demographic billing parameters
- Discovering inactive accounts with consumption
- Defining the Meter Replacement Policy
Truenorth’s Revenue Assurance program design and execution is supported by our highly qualified and trained personnel, at both operational and administrative levels; and our analytical tools to measure the economic impact of the recovered volume. The program’s ultimate objective is determined in a combined effort between our client and us.
In short, the philosophy of Truenorth for the management of revenue losses is a blend of a proven methodology, the use of software tools, in-depth operational knowledge, and follow-up actions undertaken; thus, ensuring sustainable increase in cubic meters and KWh, reduced commercial losses and increased revenues, positively affecting the fiscal health of the client.