{"id":10312,"date":"2012-04-25T05:46:50","date_gmt":"2012-04-25T05:46:50","guid":{"rendered":"https:\/\/www.subex.com\/blog\/?p=206"},"modified":"2012-04-25T05:46:50","modified_gmt":"2012-04-25T05:46:50","slug":"would-product-upgrade-alone-solve-the-problem","status":"publish","type":"post","link":"https:\/\/dev.enki.studio\/test\/?p=10312","title":{"rendered":"Would Product upgrade alone solve the problem?"},"content":{"rendered":"

During one of my business travels recently, I met the Revenue Assurance & Fraud Management heads of few telco’s. There was one meeting in particular that struck me – let me call him Jack, the AVP of FM. Jack has been using a Fraud Management System(FMS) for close to 4 years & has certain business challenges to address. Jack was exploring the option of upgrading the FMS to tackle the challenges and needs.<\/p>\n

Jacks\u2019 primary challenge was to build a business case justification for FM upgrade to show the elusive RoI. Apparently, there have been challenges of his team detecting fraud, and he was of the belief that an upgrade will help address the fraud in new generation of services (which the current system is not capable of) and thus contribute to the RoI.<\/p>\n

On probing further it was clear that he\u2019s been under tremendous pressure from the higher-ups to showcase RoI, especially in the recent past due to tough macro-economic conditions. Some more questioning and discussions with his team members revealed that there have been (and are) many hurdles in performing their tasks \u2013<\/p>\n

a)\u00a0\u00a0\u00a0\u00a0\u00a0 IT issues pertaining to system availability, performance, processing & tuning<\/p>\n

b)\u00a0\u00a0\u00a0\u00a0\u00a0 Knowledge issues in fine-tuning the rules and thresholds periodically<\/p>\n

c)\u00a0\u00a0\u00a0\u00a0\u00a0 People issues in understanding the domain and carrying out effective and smart investigations<\/p>\n

While the operator is on a drive to introduce Next Generation services, more than 88% of the revenue still comes from traditional services \u2013 Voice, SMS\/MMS, Roaming, Interconnect and GPRS. The top frauds also happen in these areas – https:\/\/www.cfca.org\/fraudlosssurvey\/<\/a><\/p>\n

It was a revelation for Jack when the data was put up for discussion. It was also evident that an upgrade alone is not going to solve his problem. The need of the hour was an overhaul of the entire eco-system (address the 88%), along with the upgrade (to address the remaining 12%).<\/p>\n

During the course of the discussion, I suggested a few best practices based on prior experience through the Managed Services engagements.<\/p>\n

a)\u00a0\u00a0\u00a0\u00a0\u00a0 Conduct an assessment to baseline the performance of the current function, including a SWOT analysis and detailing a roadmap for growth<\/p>\n

b)\u00a0\u00a0\u00a0\u00a0\u00a0 Basis assessment, build a business case for justification for skills\/efficiency improvement and required technological upgrades<\/p>\n

c)\u00a0\u00a0\u00a0\u00a0\u00a0 As next step, strengthen the foundation of fraud prevention by improving on people, process by leveraging on best practices and experience from vendors and partners if needed<\/p>\n

d)\u00a0\u00a0\u00a0\u00a0 Once the basics are addressed, mature to the next level by incorporating technological, process, procedures & skill upgrades<\/p>\n

I also quoted one such Subex Managed Services engagement in India, where the operator was on an older version of the Fraud Management when the engagement started and has seen more than 2 times RoI within a year, followed by an upgrade to latest version. This helped them in the following ways:<\/p>\n

a)\u00a0\u00a0\u00a0\u00a0\u00a0 Optimize the resources as a first step and improve on fraud operations through skilled workforce, leveraging on existing technology and automation of repeatable tasks<\/p>\n

b)\u00a0\u00a0\u00a0\u00a0\u00a0 This resulted in significant financial savings, lowered operational and workforce risks, improved knowledge and enhanced business agility<\/p>\n

c)\u00a0\u00a0\u00a0\u00a0\u00a0 The highly scalable model for future growth also meant they were able to choose specific fraud related services and technological upgrades depending on its strategic objectives and business priorities<\/p>\n

Jack, being the positive person, was able to appreciate a new perspective on his challenges and is looking forward to a detailed assessment to build a case for strengthening the FM team.<\/p>\n

After this incident, I wonder are there more Jack\u2019s out there with the right intention but not necessarily armed with the right tools?<\/p>\n","protected":false},"excerpt":{"rendered":"

During one of my business travels recently, I met the Revenue Assurance & Fraud Management heads of few telco’s. There was one meeting in particular that struck me – let me call him Jack, the AVP of FM. Jack has been using a Fraud Management System(FMS) for close to 4 years & has certain business […]<\/p>\n","protected":false},"author":1,"featured_media":962,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[10],"tags":[43,46,29,47,17,48,49],"class_list":["post-10312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-managed-services","tag-bss","tag-business-support-systems","tag-fraud-management","tag-managed-services","tag-revenue-assurance","tag-upgradation","tag-upgrade"],"acf":[],"_links":{"self":[{"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=\/wp\/v2\/posts\/10312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10312"}],"version-history":[{"count":0,"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=\/wp\/v2\/posts\/10312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=\/wp\/v2\/media\/962"}],"wp:attachment":[{"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.enki.studio\/test\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}