Telecoms operators face an estimated global average loss of 13% or USD$294bn resulting from uncollected revenue and fraud, claims risk management and analytics firm Neural Technologies. Neural Technologies provides software solutions to manage revenue assurance and fraud, application, collections and credit risk.
Based on the company's Global Telecoms Risk Management Global Survey 2016, over 100 telecoms fraud experts completed the survey which reveals that revenue loss varies widely by region, with Central Asia seeing 17% losses compared to a relatively modest 8% in Western Europe. Hard revenue losses – such as external fraud, bad debt and internal fraud – totalled 6.9%, (equivalent to approximately $155bn) with missed revenues, for example sub-optimal call routing, poor processes and incorrect data usage, accounting for the remaining 6.2% ($139bn), said Neural Technologies.
Luke Taylor, CCO
The main findings include the fact that, in more than 50% of companies surveyed, the CFO is the most senior individual responsible for fraud, credit risk and revenue assurance – which reflects our understanding based on talking to many CSP’s in the past few years, so the buck really stops there, and we think that CFOs will find the report particularly useful.
