Intec, a provider of business and operations support systems (BSS/OSS) for fixed, mobile and next-generation networks, has released Intec Convergent Billing – Revenue Management Edition. This new edition of their convergent billing product is an enhanced version of its convergent billing system. It will deliver automated revenue recognition, easier regulatory compliance and enhanced revenue assurance processes.
This new Revenue Management Edition delivers a number of advantages to telecoms operators that are specifically concerned with the auditabiity and assurance of their revenue generation and recognition processes. This includes increased efficiency and accuracy of revenue recognition, greater business control and auditability, and easier compliance with regulatory demands through automated revenue recognition and support for company-specific accounting policies.
â€œA growing need for carriers to comply with regulatory and best-practice revenue management principles has created demand for a new level of capability and control in this area,â€ said Intec COO Gary Bunney. â€œAdherence to the accepted accounting principle of only recognizing revenue when a service has been delivered is complicated when a service provider offers complex service bundles with a mixture of subscription, one-off, usage-based and other charges. Driven by our customer requirements, we have added powerful new capabilities to Intec Convergent Billing – Revenue Management Edition to allow them to do just that.â€
Emerging regulatory requirements resulting from recent legislation in several key geographies demand more stringent internal control over financial reporting. This represents a major technical challenge for operators, due to the complexity of billing for multiple services with different charging rules. Automation of accounting processes helps improve the effectiveness and accuracy of regular financial reporting in this environment. Intec Convergent Billing – Revenue Management Edition greatly reduces some of the most significant costs associated with the required legal and regulatory compliance.
Intec supplies solutions to over 60 percent of the worldâ€™s top 100 telecom carriers and is one of the worldâ€™s fastest growing major BSS/OSS (business and operations support systems) vendors. Intec works closely with its customers to provide the highest standards of performance, flexibility and robustness to help carriers service their subscriber customers effectively and profitably. Intec offers a comprehensive and expanding range of products, solutions and services.
Founded in 1997, Intec is listed on the London Stock Exchange (ITL.L) and has over 1,700 staff and 31 offices in 25 countries. For more information, visit the Intec website at www.intecbilling.com.