Why technology is not the silver bullet, but can help create a successful risk culture?
As revenue assurance teams move into Integrated Risk Management teams, they have a stronger impact on their organizations by adapting to change, collaborating, and making investments in digital assets, analytics, and automation. In addition, new technologies have created an opportunity to enable a variety of techniques to improve efficiency and insight from assurance activities, including 100 percent assurance coverage (rather than sampling), automation of assurance tasks, and real-time insight into emerging risks via data-led, continuous monitoring.
To take advantage of these shifts in process, revenue assurance stakeholders need to rethink their role by adapting to and embracing change, enabling the risk management and continuous control monitoring function to become more agile, nimble, and forward-looking, thus driving change through the three lines of defense model.