Recovering Lost Revenue by Augmenting Internal Customer Data with External Data for Accurate Invoicing for Large B2B Enterprises
Year: 2024
Type: article
Abstract: In today's competitive business environment, accurate invoicing plays a pivotal role in ensuring financial stability. Organizations often face challenges in maintaining precise customer data, leading to lost revenue due to incorrect invoicing. This paper presents a solution to recover lost revenue by augmenting internal customer data with data from external data providers such as Zoominfo, Dun & Bradstreet. By improving customer data accuracy and targeting the right contacts for invoicing, organizations can minimize billing errors and enhance revenue recovery. The proposed approach combines advanced data integration techniques with robust data governance practices to ensure that customer information is up - to - date, reliable, and sufficient for accurate billing processes across enterprise systems that either contribute or consume customer data. Towards the end of the paper, I will present a case study where proposed approach was applied within a large global enterprise to recover $1.8M unpaid elevator maintenance bills by resending the invoice to right email address.
Author: Shreesha Hegde Kukkuhalli
Language: English
Topic: Data Quality and Management
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404327947