• Log in
  • About Us
  • Privacy Policy
  • Contact us
Telecoms IT News - VanillaPlus
  • Home
  • News
  • Verticals
    • 4G
    • 5G News
    • Big data analytics
    • Bill & Charge
    • CEM
    • Companies
    • Digital transformation
    • Fraud prevention
    • Managed services
    • Network optimisation
    • NFV Hub
    • OSS
    • People
    • Policy
    • Revenue assurance
    • Revenue management
    • Service assurance
    • Service Provisioning
    • Test & measurement
  • Digital Edition
  • Events
    • Events diary
    • Webinars
  • Videos
  • VP Featured
    • Webinars
    • Podcast
    • Editorial advisory board
    • Expert opinions
    • Hot List
    • Operator View
    • Press releases
    • Reports & whitepapers
    • Special reports
    • Talking Heads
    • Troubleticket
    • Digital Talking Heads
  • Directory
  • Tech Trends
  • Subscribe
 

You are here:

  • Home
  • Fraud prevention
  • Telcos face US$300bn global loss from uncollected revenue and fraud in 2016

Telcos face US$300bn global loss from uncollected revenue and fraud in 2016

05 January, 2016 at 5:00 PM

Telcos face US$300bn global loss from uncollected revenue and fraud in 2016
Luke Taylor, CCO, Neural Technologies

Neural Technologies has announced the results of its Telecoms Risk Management Global Survey 2016. Telecoms operators face an estimated global average loss of 13.1% or US$294 billion* resulting from uncollected revenue and fraud.

More than 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 $155 billion) with missed revenues, for example sub-optimal call routing, poor processes and incorrect data usage, accounting for the remaining 6.2% ($139 billion).

Chief commercial officer, Luke Taylor, commented: “The Neural Technologies Telecoms Risk Management Global Survey 2016 has given us a valuable snapshot of the telecoms industry from the operators themselves. 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 CSPs in the past few years, so the buck really stops there, and we think that CFOs will find the report particularly useful.”

Neural-Technologies-brochure_Global-Loss-figures_large

 

“In addition, when it comes to managing risk, our respondents cited ‘knowledge sharing’ as equally important as the ‘underlying systems.’ Neural is keen to encourage the exchange of information between peers and this was an important discussion at our 2015 User Forum. The telecoms sector is significantly expanding its services around the world with faster broadband, 4G/5G roll-out and more connected devices. Our survey reveals that new services create both new revenue opportunities and risks for operators and the challenge is to secure the upside and minimise the losses,” Luke Taylor added.

Neural Technologies’ solutions empower organisations to minimise financial risk to their business, providing comprehensive risk management capability in the areas of application risk, fraud, credit risk, customer attrition, collections and revenue assurance.

* Dollar figures based on Estimated Global Revenues from CFCA 2015 Industry Survey.

To request a copy of the Survey Report, visit www.neuralt.com/globalsurvey2016  or for further information email info@neuralt.com

Comment on this article below or via Twitter: @VanillaPlus  OR  @jcvplus

 

 


category: Fraud prevention, News, Revenue assurance, Revenue management

Tags: 4G, 5G, CSP, Luke Taylor, Neural Technologies

VanillaPlus Q3 Magazine
 

VanillaPlus Magazine Issue 1 2022: Why IT must catch up with OT to enable 5G monetisation

Is creativity a bridge too far for CSPs? As communications service providers (CSPs) engage in new digital value chains, collaborate with partners and participate in multi-directional business models, George Malim shares a tale of two bridges

READ NOW

Comments are closed.

  • Facebook
  • Twitter
  • YouTube
  • LinkedIn
  • Subscribe
Relax time
Read the new novel by J.J. Cowan on Africa’s conflict minerals trade and forced labour. 5* Reviews on Amazon.co.uk Paperback & Kindle

Check out on Amazon

X

Be the first to know!

  • The top telecom IT news stories of the minute
    in your inbox
  • Exclusive offers for entry into hundreds of
    events worldwide
  • Free access to a huge selection of the latest
    analyst reports and whitepapers
Subscribe now so you don't miss out
Don’t show me this again
Please check your email
x
Vanillaplus - The Global Voice of Telecoms IT
The Global Voice of Telecoms IT

VanillaPlus is the world-leading resource covering digital transformation for the communications industry. VanillaPlus brings you exclusive News, Expert Views, and Event Reviews. See Interviews from CEOs, CTOs, and COOs who are successfully transforming their business today.

Connect

Facebook Twitter YouTube LinkedIn

NEWS

  • Latest Telecoms IT news

DIGITAL EDITION

  • Latest Editions

OTHER

  • Newsletters [Archive]

KNOWLEDGE CENTRE

  • Webinars
  • Special Reports
  • Talking Heads
  • Editorial Advisory Board

COMPANY

  • About
  • Contact Us
  • Terms & Conditions
  • Privacy Policy

PARTNERS

  • IoT News

© 2014-2022 VanillaPlus - The global voice for telecoms IT. All rights reserved.