Reconciliation is an important process in telecommunication billing between carriers. Too often many carriers overlook the importance of reconciliation due to the complexity of the processes and the amount of resources required to reconcile invoices received with the information at hand. Many do not realize the amount of losses due to lack of reconciliation being performed to check the accuracy of figures. Some consider the amounts to be too small to pay too much attention to and that is the reason why many carriers still choose to ignore the differences. However, the differences may seem small percentagewise but could be huge in terms of monetary value. These issues only exist because operators who don’t have the right tools and resources to reconcile.
Reconciliation margins are getting bigger and wider due to the increasing pace of changes in billing and rating and the complexity of agreements between operators. Rates, for example, are constantly being updated, sometimes on a daily basis, due to the demand for lower cost and better quality among carriers. Operators are finding it harder to keep up with pace of changes and without proper tools and system to maintain this data, some will be left behind and fail to update their information accordingly. It is due to this that discrepancies between amounts billed between operators increase. With the lack of advanced work being done, the amount will become even bigger and it will become harder to track and reconcile differences.