BUSINESS SITUATION
The client was in search of a strategic partner to help them in the billing re-imagination initiative. This included:
- To rebuild the complete billing process focusing on the client experience, foundational data builds, operating model optimization & revenue integrity for various LoBs in the bank.
- To migrate multiple billing platforms and their respective sources data and bring them over to the new billing platform using master data management & enterprise data lake architecture which will strengthen the integrity of data.
SGA APPROACH
- Worked with the chief data office (CDO) & billing team (RBE) to understand the future state vision, order of priority, and data requirements.
- Conducted workshops with different LOBs operation teams and data owners to understand and document the underlying data, systems, controls, and various processes & procedures.
- Scanned the billing data to identify data anomalies & possible attributes leading to revenue leakage.
- Identified manual activities involved as part of the billing process & identified ways to perform smart automation.
- Re-imagined the operating model to meet CDO & RBE requirements.
- Presented the artifacts to CDO & RBE teams to plan the next steps.
ENGAGEMENT
- Invoice Facilitator (IF) Identification: Identified appropriate IF through data standardization and fuzzy match from across 50M + parties.
- Address Standardization: Using Spatial and address parsing tools, parsed, de-duped, and standardized invoice addresses into ISO 20022 format.
- Billing UDT migration: Automated several manual UDTs into ETL pipelines to reduce errors.
BENEFITS & OUTCOME
- Helped the client in optimizing their operating model across 19+ LOBs.
- Helped reduce aged debt from 25% to 8%.
KEY TAKEAWAYS
- Defined and codified business rules/transformation/ standardization rules.
- Built dashboards and reports on underlying data quality & usability, data usage, data hydration, etc.
