RAFM Accelerator Consulting Engagement
Our Accelerator program builds upon the quick wins in our Booster engagement by taking a deeper look at how to generate valuable new outputs from revenue assurance and fraud management departments. The result is greater strategic alignment between the work undertaken by revenue assurance and fraud management teams and the objectives of a wider range of stakeholders within the company. Six key elements of the Accelerator program are detailed below.
1. Technical Requirements Analysis
What solutions are needed to take RAFM to the next level, and which sources of data would be required to support them? We will construct a plan to bridge the gap from where you are to where you want to be.
2. Develop Business Case for Staff Development
One of the worst ways that communications providers undermine their RAFM efforts is by failing to develop their own staff. We will examine the training already given, then show how it can be improved and why this will increase profitability as well as staff retention.
3. Recommend Changes to Corporate-Wide Policies
Sometimes the work of RAFM teams is undermined by unhelpful corporate policies. Our experienced consultants will objectively explain to c-level executives where policies relating to corporate security, fraud investigation, data integrity and the hiring of new staff can be improved to support fraud management and revenue assurance objectives.
4. Audit Decisions Delegated to Customer-Facing Functions
Is there a customer service representative that issues far more credits than any other? Do some employees in retail stores put an unusual number of customers on discounted plans? Have some unusual clauses been included in contracts with big enterprise customers? Auditing the freedom staff have to make decisions with financial consequences and how they exercise this freedom in practice can prevent internal fraud and lead to much more consistent treatment of all customers.
5. Identify and Address Root Causes of Recurring Losses
Sometimes communications providers are stuck tackling the same problems over and over because there is never time to deal with the root causes. Our team will examine the history of actual losses and near misses during the last 12 months, then prompt lasting change that will eliminate the risk of them impacting your profits again.
6. Enhance Communications with Other Departments
Sometimes the first obstacle to amplifying the effectiveness of revenue assurance and fraud management teams is that they do not know the names of other employees they should be talking to on a regular basis, and cannot persuade other departmental heads to engage with them meaningfully. Symmetry's consultants have experienced this problem in many businesses and we have the skills to build relations by showing how everybody benefits from improved coordination.