Free eBook: 5 ways quality data increases revenue

Increase revenue with data quality and data governance. Our free ebook explores five areas where improving data quality has a direct impact on revenue

Hidden losses of potential revenue

Various studies reveal that companies lose 2-6% of potential revenues because of issues resulting from discrepancies between selling and payment collection.

It is estimated that about 50% of revenue leakages are due to inefficient internal processes.

Despite using different revenue assurance systems, losses keep happening. It seems like there are other things stopping organizations from maximising revenue.  So how can we increase revenue?

Data quality standards can be compared to accounting standards

Many businesses acknowledge the critical role of robust data management practices, such as standardized accounting methods and external audits, in ensuring accurate financial outcomes and increased revenue. These methodologies can yield considerable benefits in enhancing the effectiveness of various revenue-oriented procedures.

The quality of data holds immense sway over revenue assurance, prompting CFOs to scrutinize their internal operations through this lens to bolster efficiency. This ebook delves into the ramifications of enhanced data quality and explores the potential of proactive data governance in revenue assurance and optimization.

Whether it's curbing revenue losses, cutting costs, or maximizing incoming revenue, active data governance can be a pivotal factor in driving success.

5 areas where you can increase revenue through DQ

Read 5 Ways that Quality Data drives increased revenue to understand how data governance and data quality practices can increase revenue assurance in these functions.

• Invoicing and Billing: Managing the process of generating and tracking invoices, ensuring accurate billing for products or services provided.
• Cash Flow Optimization: Strategically managing the flow of cash within a business to ensure sufficient liquidity for operations and investments while minimizing financial risk.
• Customer Exposure: Assessing the level of risk associated with customers, including their creditworthiness and potential impact on revenue and profitability.
• Spend Analysis: Examining and analyzing expenditure patterns and trends to identify opportunities for cost savings, efficiency improvements, and strategic investment.
• Buying Off-Contract: Procuring goods or services outside of predefined contracts, often to capitalize on favourable pricing, negotiate terms, or diversify vendor relationships.