The current explosion in global voice, data and Next-Generation Network (NGN) traffic has heightened problems in data management, information flow and discrepancies between carriers. The result has been a marked increase in manual costs as carriers attempt to align their internal processes with each other.
In fact, the settlement process is so labor-intensive and fractured that IT does not consider an invoice overdue if it is within 217 days of service. This astounding lag time is estimated to cost the industry up to $1 billion every single year. Or, as The Yankee Group has noted, this miscommunication coming from poor and/or lost data is considerable. For the United States and European carriers it is over $6 billion annually.
The sheer size of the issue is just beginning to be realized. Revenue lost to frequent manual processes of rate management takes place as price lists sit in queues, sellers wait for buyer validation, analysis and loading into downstream routing, rating and billing systems. These are just a few triggers of the process that plagues carriers and affects their bottom line.
As a work group and industry thought leader, GBET brings together carriers interested in brainstorming and constructing optimal ways to resolve these problems. These revolutionary solutions are the eContract and GBET - the eXchange.