Revenue growth is the fuel that powers investments in new business models, new products, and new markets. But in today’s challenging economy—rocked by unprecedented economic and business disruptions—increasing revenue can be an elusive digital transformation goal.
Most organizations tackle this challenge by looking for opportunities to cut costs. Or they may launch sales and marketing efforts to increase their market share. Both, of course, are logical levers to consider.
But what if there are millions of dollars in revenue leaking from your organization every year? What if there are millions more in unrealized revenue sitting in plain view—ready to be claimed? What if, with the right tools and processes in place, you could maximize the income from each transaction? That’s something any CEO and CFO should say yes to—and it’s entirely within your ability to control internally.
Revenue management and billing is the set of processes that occurs between the moment an order is taken, or a contract is signed, to when you collect the associated cash and recognizes the revenue. Done right, revenue management and billing can be a powerful driver of top-line growth.
Deloitte developed the Deloitte Digital Revenue Platform (DDRP) —an end-to-end solution framework, powered by the Oracle Revenue Management & Billing (ORMB) solution—that enables you to optimize current lead-to-cash processes, reduce revenue leakage, and virtually automate your existing manual processes.
In a lightning-fast world, you don’t have time to wait for value. Because if you do, your competitors will get there first. That’s why we’ve built a set of industry-specific accelerators to help you harness the power of the Oracle Revenue Management & Billing (ORMB) platform right away. Each has been developed based on our extensive first-hand experience helping top organizations in financial services, health care, and pharmacy benefits break the cycle of leaving money–their money–on the table every day.
DDRP is a pre-integrated solution framework that extracts and validates data from legacy upstream customer and contract management systems. Designed in line with business rules, the platform can perform complex fee calculations, adjustments, payments, and sub-ledger accounting based on the unique terms and conditions of each customer. Billing analytics are transformed as the platform enables business users and customers to drill down to the transaction level.
And it automates approval workflows and auditing, while embedding the highest levels of security, performance, and scalability. Any company with an outdated billing system can benefit from the DDRP. The solution is particularly well-suited for large, complex organizations with any of the following characteristics:
The DDRP offers all the advantages of ORMB’s robust framework while reducing implementation time by leveraging the Deloitte industry-specific, pre-built solutions. It delivers the flexibility and affordability of a cloud-based infrastructure, and can be rapidly deployed through a range of deployment options, depending on your unique needs and technology environment:
Deloitte worked with leading organizations in Financial Services, and Life Sciences and Health Care to help them optimize their lead-to-cash processes. The benefits in many cases are similar from industry to industry, and include:
There has never been a better time for organizations to transform their revenue and billing capabilities and capture the profits that are rightly theirs. As competition heats up and nimble new entrants challenge established players, it’s vital that organizations focus on maximizing the profitability of entry transaction. Smart companies are using the power of Oracle’s ORMB platform to get there. And with Deloitte accelerators, they can get there faster and more reliably. Our deep industry knowledge—coupled with unmatched experience working with Oracle’s ORMB solution—makes Deloitte an ideal collaborator in helping organizations solve their toughest revenue and billing challenges.