BlueOSS Reveals New Cost Reconciliation Capability at ITEXPO 2014
August 13, 2014
The exciting reveals continue during ITEXPO 2014, happening now through August 14 at the Rio in Las Vegas. This year’s event represents a lot for BlueOSS, a leading provider of telecom billing software and operational support systems—the company this week announced its all new cost reconciliation capability as a part of its industry leading cloud billing solution, Cloud Innovation Suite (CIS). Cost reconciliation is a necessary component for today’s leading resellers and service providers, as it helps ensure the reliability of cost data, promotes better coordination between cost and financial departments, and helps formulate effective management and decision-making policies, among many other benefits.
When looking at today’s service provider and reseller markets, there is a huge need for enhanced cost reconciliation. BlueOSS CEO Tim Cook took some time during the show to explain to TMCnet why that is and how this gap can be effectively bridged.
The challenge, Cook says, is that while many providers and resellers have figured out how to bill their customers, they have not yet identified how to effectively reconcile costs. For example, resellers are not sure how to reconcile the costs from their upstream providers to what they are invoicing their own customers for. This is being primarily done manually, which also poses a unique challenge as resellers need to be able to bill for services sold in advance. If they idly sit by, they risk potentially waiting to bill for products or services two to three months after they are sold. Clearly, this isn’t an efficient process.
BlueOSS’ new cost reconciliation capability enables resellers to ensure they are billing correctly based on the agreement held with their upstream service provider. It also provides an opportunity for resellers and service providers to better understand what their margins are, including their margins in general and margins specific to a particular product or customer.
“Today’s resellers are great at reselling and building services, but not at understanding the cost elements running in the backend,” Cook told TMCnet.
This cost reconciliation functionality will come included as part of BlueOSS’ standard offerings; however, advanced options like product margin analysis and customer margin analysis will be available at an additional fee.
Want to learn more? Be sure to stop by booth #240 today or tomorrow on the exhibition floor to learn more about BlueOSS’ new cost reconciliation solution!
Edited by Adam Brandt
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