Reducing revenue leakage to increase profit

Every day companies are losing money somewhere along their revenue cycle. Revenue leakage is a problem that cannot be ignored by business as it can occur almost everywhere, from individual internal functions to customer-facing transactions.

Revenue leakage can occur within a company’s invoicing procedures linked to such things as incorrect customer information or poor internal system integration issues. One common cause that creates revenue leakage is the use of multiple, standalone spreadsheets which are not linked or integrated to corporate billing applications, giving rise to mistakes, errors and lost revenue.

Research by the Boston-based Aberdeen Group revealed that, on average, “revenue leakage amounts to nine per cent of an enterprise’s revenues”. This can amount to a significant amount of money which cannot be ignored by organisations.

Revenue leakage has no particular reference point where it occurs within an organisation , the challenge will be how to track, monitor and analyse revenue through the many multiple touch points within a company`s business processes. Do not despair, revenue leakage is preventable but will need the implementation of intelligent and effective analytics to monitor your business processes.

Technology company i5 Services can help organisations recover and save the percentage of annual revenues that would otherwise be lost. It is the only technology company that specialises in the broad spectrum recovery, savings, and efficiency improvements of their clients. In addition, their services help prevent future losses. Finance and accounting personnel are allowed to focus on more productive aspects of company operations rather than spending time chasing unnecessary costs.

The services provided by i5 Services are platform agnostic, integrating with any accounting system and are fully web-based and secure. The setup is typically less than 10 hours, and day-to-day use is typically no more than 15 minutes. All recovery and savings efforts are shared with clients in real time through web-based management dashboards.

Risk to client is significantly mitigated by i5’s guarantee that the client will never pay more for the services than the amount of verifiable, unnecessary costs prevented.

A free morning seminar is being organised by DSG Consulting Ltd on Tuesday. Participants will learn how their business can increase profitability at no additional cost.

Registration at www.vidandco.com or on 2134 1807.