In today’s competitive marketplace, companies are looking for new ways to streamline operations and reduce costs. One area that is frequently overlooked is back-office functions – which can be traditionally labor-intensive and, unfortunately, inefficient. A recent blog cites that back-office inefficiencies cost companies, on average, $480 billion a year. For some companies, this results in anywhere from 20-30% of their revenue every year.
While the impact is astonishing, the root cause of these inefficiencies could come from any number of areas – from outdated billing practices that result in late or inaccurate invoices to time-consuming manual processes that lead to high employee turnover. Moreover, relying on manual back-office procedures increases the risk of human error and leaves your company more vulnerable to liability – or even litigation. In fact, in today’s ever-changing corporate landscape, many companies are struggling to remain compliant.
But automated processes – like those provided by RevX, a KORE partner – can help eliminate much of the human error and inefficiencies faced today. RevX specializes in simplifying and monetizing the back-end process through subscription management and usage-based billing, among other things. According to RevX, CEO John D’Angleo, “The ability to have downstream billing capability is critical to that customer so they can succeed, they can monetize their business. If they can’t pay their bills they can’t grow, they can’t scale, they don’t have a business.”
He goes on to note that companies that try to create their own back-end billing services can invest many months, years and hundreds of thousands of dollars to achieve the same cost-effective and efficient results. In the five years that KORE and RevX have been partners, they have helped simplify back-end operations for many satisfied clients.
“We enjoy working with KORE. Primarily the people, we have good relationships with people at all levels… they bring a lot of expertise around eSIM, connectivity, a one-stop-shop for customers.”John D’Angelo, President, RevX
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