Riding on the back of technology, businesses are expanding beyond boundaries. With rapid digitization, a spiked revenue is being tallied by service sectors in today’s time; especially telecom. The competitive business environment across the globe needs to diversify the revenue into several lines of businesses (LOBs) that raise the complexity and further leads to revenue leakage.
The revenue assurance services are taking care of revenue leakage and fraud leakage in order to optimize the revenue realized from business and further helps to disseminate on various levels. Further, the fluctuations in consumers demand, paradigm shift in operational activities and corporate acquisitions lead to complexity in business to operate revenue and increase profitability. In order to maintain and increase the profitability with minimum loss from revenue leakage, the companies opt the efficient management revenue solutions and tools. The revenue assurance service/solution providers offer various services such as planning and consulting to prevent revenue losses by finding and correcting the stream of revenue of the business.
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Market size and forecast
Revenue Assurance Market of Africa is expected to show a lucrative growth as multinational and national players are expanding their business towards the horizon of Africa. Africa, as an emerging region across the globe and presence of developing countries and burgeoned demand for better services and facilities from the consumers end are projected to open new avenues for the revenue assurance service providers in the region.The loss of revenue in telecom sector of Africa is directly affecting the business of many telecom players in the region by decreasing the profitability. The business players are implementing the revenue assurance services and solutions in order to provide better services and generate feasible revenue.
Growth Drivers and challenges
Factors like, acquisitions, corporate mergers that increase complexity in the business and revenue leakages affecting the profitability of business are projected to escalate the demand for revenue assurance in the region. Further, companies opting preventive management systems to find and correct the revenue leakages would help the revenue assurance to see new great heights.
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In addition to that, efficient and qualitative revenue assurance services offered by domestic & international players are expected to drive the revenue assurance market in Africa over the forecast period i.e. 2015-2023. Meanwhile, lack of expertise and skilled workforce in the market is expected to dampen the revenue assurance market during the forecast period 2015-2023. Economic slowdown and currency fluctuations are yet another reasons expected to impact moderately on the growth of revenue assurance market in the region.
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