TTSL streamlines payment processing

TTSL streamlines payment processing

Staff writer
telecomasia.net
Tata Teleservices, the fourth largest telco in India, serves more than 93 million customers. The sheer size of the company's operations has exposed it to inefficiencies that had knock-on effects for the speed of payments processing.
 
A core problem was its divided structure, which meant each business unit operated as a separate profit center. Such a decentralized model led to concerns regarding the control it had over its accounts – with a particular issue being its inefficient payments processes. 
 
Additionally, its unwieldy cash management infrastructure exposed it to operational, settlement and transaction risk. Meanwhile, the company was operating mostly manual processes, which meant both fraud and human error were concerns – particularly with regards to manual file extraction and uploads (the latter sometimes resulting in the duplication of files and payments).
 
More control
 
Given these challenges, the company decided to undergo a major overhaul of its transactional systems. Working with Citi Transaction Services, the telco first mapped its end-to-end process, including its accounting and approval structure. This helped identify weaknesses as well as point to potential solutions. For instance, a key priority for Tata Teleservices became payments centralization, through which the company hoped to not only improve process efficiency and enhance control, but also reduce costs and improve automation. 
 
A solution was designed that streamlined payments processes into a single account, instead of the 20 accounts the company had previously used. This meant Tata Teleservices gained more control over payments practices, but it also meant the company’s payments processing were outsourced to a third party, which enhanced the efficiency of the single account.
 
This centralized processing system encourages checks and balances that reduces its exposure to error, as well as improves efficiency and security. For instance, manual interventions were reduced, thus lowering the risk of error, and the use of a ‘file extractor’ removes the ability to manually extract files (reducing the potential for both errors and fraud).
 

Pages