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December 14, 2005
LONDON -- Intec Telecom Systems, a global provider of business and operations support systems (BSS/OSS) for fixed, mobile and next generation networks, has signed a contract with Verizon Dominicana for Intec's InterconnecT Automated Reconciliation (InterconnecT AR) solution. The deal will allow Verizon's Dominican Republic subsidiary to automate the dispute management process of incoming invoices and outgoing bills for interconnection charges.
Verizon Dominicana will use InterconnecT AR to improve its billing processes substantially, and the added capabilities in InterconnecT AR will further enhance Verizon Dominicana's billing and revenue generation. The deal extends a long-term relationship with Verizon, which has a global framework agreement with Intec for Intec's InterconnecT carrier-to-carrier billing product and its Inter-mediatE mediation technology. "Adding automated bill reconciliation to its existing InterconnecT system will allow Verizon Dominicana to save time and money on its internal processes, as well as demonstrating best practice in settlements with its partners," said Intec CEO Kevin Adams.
Interconnect bill reconciliation is a time-consuming and expensive process for operators. Such bills commonly represent tens or even hundreds of millions of dollars of both revenue and cost to carriers, and even small delays and inaccuracies in settlement can have a substantial impact on cashflow and profitability. Speedy resolution of disputes is key in ensuring the robust profitability of an operator.
InterconnecT AR enables automation of the process for comparing interconnect charge information from multiple interconnect accounting systems. It automates bill reconciliation and dispute management processes through exchange, comparison and settlement of aggregated billing data. This helps avoid the overhead of manual handling of individual transactions - reducing settlement time and improving the accuracy of interconnect charges. InterconnecT AR supports both generic reconciliation and reconciliation using established standards such as CODIFI and DETRAF.
Automated reconciliation offers the opportunity not only to speed up the settlement process, but also to make better use of resources, reduce operating costs and streamline business processes. Automatic reconciliation can shorten settlement cycles and therefore significantly reduce the risk of disputes. Cash-flow management is improved, as amounts payable and receivable can be traced and monitored closely and comprehensively at all stages. Automatic reconciliation need not be restricted to a simple comparison of rated information: it can also be used to identify areas of dispute and suggest potential resolutions. It can also provide automatic adjustments. Financial risk can be further minimised by operators agreeing to pay an amount on the understanding that there will be a later adjustment after reconciliation.
Intec Telecom Systems plc
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