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Travel and Logistics
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Solution
TCS HOBS™
TCS HOBS™: Engineering experiences with personalization and innovation
Highlights
- Global fraud threats, increased intricacies in service provisioning, billing issues, and subscription-based payment processing have added to business complexities.
- Enterprises must promptly identify potential risks and take measures to mitigate their business impact.
- TCS HOBS Business Assurance is a powerful and intelligent offering that enables enterprises to analyze data from across their revenue and operations chain and derive meaningful insights to improve customer experience, operational efficiencies, and revenue performance.
- The solution's key benefits are improved customer advocacy/net promoter score (NPS), proactive revenue leakage detection, improved operating margins, and enhanced financial and regulatory compliance.
Context
The emergence of digital services and multi-partner ecosystems have contributed to growing complexity in service provisioning, billing, and payment processing. Enterprises in the subscription economy encounter significant challenges that include:
- Inaccuracy in billing processes resulting in charging excess or undercharging customers, leading to customer dissatisfaction or revenue loss
- Surge in deceitful activities driven by fraudsters' quick adoption of advanced technologies
- Complexity of managing subscriptions, inefficiency in digital asset management, and cash flow management
- Impact of high customer churn rates on the overall revenue potential
A diligent focus on having various processes and controls across the entire value chain is paramount in protecting revenues, controlling costs, and preserving healthy margins. Enterprises can implement remedial measures to tackle these challenges by identifying and analyzing potential risks
Overview
The dynamic nature of subscription-based businesses demands continuous adaptation and innovation. Business assurance is crucial in this regard, offering a strategic framework that mitigates risks, drives revenue, and elevates customer experience.
TCS HOBS Business Assurance is a holistic solution addressing various challenges, including revenue leakages, fraudulent activities, low margins, and increased service costs across subscriptions, devices, and data. The solution takes up the consultant role by thoroughly assessing existing processes and fixing potential problems to minimize fraud and maximize profits.
Solution
TCS HOBS Business Assurance is a cloud-native, big data-powered, and intelligence-enabled solution. It empowers enterprises to streamline processes by minimizing manual intervention, achieving operational controls with real-time monitoring, tracking defined business key performance indicators (KPIs), and offering a flexible commercial model. Harnessing the power of advanced AI/ML capabilities provides predictive revenue assurance and fraud management, enabling you to detect revenue leakages and safeguard profits proactively. The solution consists of the following components:
- Data lake: Procurement, conversion, and aggregation of diverse data sets across operations and business support systems (OSS/BSS).
- Systematic issue resolution: Collaborative case manager facilitating the creation of user-defined, rule-oriented workflows capable of monitoring, rectifying, and resolving issues.
- Data cleansing and monitoring: High-performance business process engine built on a rule-driven data processing framework that augments, transforms, and reconciles data across multiple systems.
- Data visualization: In-depth data visualization with intuitive business and operational dashboards and insightful reports.
By leveraging TCS HOBS Business Assurance, enterprises can achieve the following:
- Revenue certainty: Identify and rectify revenue leakage points to protect profit margins and maximize revenue utilization.
- Fraud prevention: Mitigate potential fraud risks by configuring advanced algorithms based on predefined rules and an ML-based data profiling that triggers alerts upon any breach or suspicious activities.
- Enhanced customer experience: Monitor and measure process KPIs involved in the end-to-end customer journeys to identify the pain points and instances of opportunities and provide superior customer experience.
- Improved asset utilization: Adopt a comprehensive approach to effectively manage, protect, and optimize assets. It ensures accurate tracking and visibility of assets to enable better asset allocation and utilization.
- Improved efficiency: Reduce downtime and enhance operational efficiency with improved first-time-right (FTR) provisioning to ensure accurate cost-tracking, better visibility, and informed decision-making.
- Regulatory compliance: Track parameters related to regulatory, covering service level agreements (SLAs) across service provisioning, billing, and customer complaints to ensure compliance and avoid possible penalties.
Benefits
We have partnered with over 25 clients across the globe and have a proven track record of success. Here’s a brief overview of the value we have delivered:
- Over $1 Bn leakage savings
- Over 90% dispute reduction
- 5% operational cost savings
- Higher than 1% margin gain
TCS advantage
We help enterprises succeed in their endeavors with the following:
Domain expertise: TCS has deep domain knowledge and decades of experience in the industry. Our subject matter experts continually enhance the maturity of TCS HOBS Business Assurance.
Future-proof digital platform: TCS HOBS’ cloud-native platform has a composable architecture that enables businesses to drive scalability and adapt to changing business scenarios.
Delivery accountability: TCS has built an established practice for delivery accountability and assumes full ownership while implementing the platform to ensure it delivers the expected results.
Proven track record: TCS’ solution has saved millions of dollars in revenue impact and an average recovery-to-discovery ratio of over 30%.