Telecoms operators face $300bn global loss from uncollected revenue and fraud in 2016

Telecoms operators face $300bn global loss from uncollected revenue and fraud in 2016

January 5, 2016

Member Press Release

Hampshire, UK: Risk management and analytics expert Neural Technologies
today announced the results of its Global Telecoms Risk Management Global
Survey 2016. Telecoms operators face an estimated global average loss of
13% or $294bn* (USD) (* Dollar figures based on Estimated Global Revenues from CFCA 2015 Industry Survey) resulting from uncollected revenue and fraud.

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

Luke Taylor, CCO, 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 CSP’s in the past
few years, so the buck really stops there, and we think that CFOs will find
the report particularly useful.” 

“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.”

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.

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

About Neural Technologies

Neural Technologies provides software to extract and analyse extensive and
disparate data across an organisation to provide insight and intelligence,
empowering corporations to mitigate operational loss and financial risk,
improve efficiencies and show significant revenue protection and generation
capabilities.
Neural Technologies has a presence in Europe, North America, South America
and Asia Pacific and customers in 45 countries worldwide. Founded in 1990,
the company has built an international reputation for providing quality
solutions to increase the bottom-line for its customers around the globe.

Notes to Editors:
For further information, please contact Chloe Purcell at Milner Strategic
Marketing Ltd on (0)1473 633 123 or at chloe.purcell@milnerltd.com.

 

 

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