Revenue Assurance is actually an umbrella term that covers a host of best practices. Stripped to its core, it boils down to three things:
1. Auditing operations;
2. Creating OSS feedback and detection mechanisms; and,
3. Efficiently correcting problems across functions such as ordering, provisioning, collections, customer care, and billing.
The objective is to boost profits by optimising operations, finding lost money, or retaining profitable customers.
Revenue Management is a solution which address the financial aspect of the telecom business, through both revenue assurance and customer profitability.