WeDo Technologies has now captured a 26 percent share of the $235 million revenue assurance market, according to Stratecast’s "Revenue Assurance and Cost Management Global CSP Sector Assessment."
As revenue assurance moves away from its origins in billing issues and more towards a strategic business assurance and risk management function, Stratecast focused the wider importance of data management for the future of the telecommunications industry and the central role that revenue assurance disciplines and organizations can play.
Rui Paiva, founder and CEO of WeDo Technologies, said the market for business assurance solutions is healthy and WeDo has has particular success in the Latin American, European and Middle Eastern and African markets. “Service providers are recognizing the crucial role that business assurance can play in enhancing customer experience while keeping tight control of their EBITDA and Net Profit margins,” he said.
Karl Whitelock, senior consulting analyst with Stratecast, a division of Frost & Sullivan, and author of the report, said combined revenue assurance and business management functions play an increasingly important role for long-term business success as the communications industry evolves and converges with other capabilities from the entertainment, media, IT computing and advertising sectors.
He added that blended management of revenue, balanced with cost from all parts of the business, is strategic and a growing concern as transaction volumes increase and external partnerships expand.
WeDo earned its top spot with a 12 percent growth in order in the first quarter. Stratecast forecasts a 22 percent compound annual growth rate in the revenue assurance market.
WeDo’s Revenue Assurance and Fraud product, RAID, has been implemented across the five continents. The company now has an international presence in Portugal, Australia, Brazil, Chile, Egypt, France, Ireland, Malaysia, Mexico, Panama, Poland, Singapore, Spain, U.K. and the USA.
