Data reconciliation between telecom operatorsWhat if the data exchange between telcos could be be fully automated with Blockchain and smart contracts?
Impacts: The telecom operators, Revenue Management department, & CFOs
The challenge: Wholesale interconnect reconciliations between Telecom operators is a tedious & complex process where operators need to wait for the closure of the billing cycle to initiate the reconciliation. This results in the disputes arising from interconnecting reconciliation only being known at the end of the month, by which time it is too late. As a result, the disputes are costly and unavoidable. Millions of revenues are put on hold due to discrepancies in reconciliation. The settlement of disputes is also not transparent.
Proposed solution: A blockchain-based decentralized solution to help with real-time and proactive reconciliation that is simpler and faster. Smart Contracts to automate the reconciliation process increasing transparency and accuracy while reducing the cost of reconciliation and the number of disputes significantly. Digital trail of immutable transactions gets captured and it also avoids overbilling due to fraudulent traffic.
Success measures: a) The accuracy of reconciliation against traditional systems b) Dollar amount saved c) Reconciliation execution time