When the Sochi Olympics put Rostelcom’s risk and compliance practices to the test, D&B helped them win the gold
Rostelecom is one of the largest national telecommunications companies in Russia and Europe. With a presence in every segment of the telecommunications services market, the company reaches more than 34 million households in Russia. It holds a leading position on the Russian broadband and pay TV markets, with over 11.2 million fixed-line broadband subscribers and more than 8.0 million pay TV customers, of which more than 2.7 million use the unique nationwide “Interactive TV” product.
Rostelecom was honored to be the General partner of the XXII Olympic Winter Games and XI Paralympic Winter Games held in Sochi, Russia, in 2014. In this capacity, Rostelecom built the telecommunication infrastructure needed for the Games host, provided television broadcasting maintenance, and also handled provision of the most up-to-date telecommunication services to the organizers, participants and guests of the Olympic Games.
The Olympic Challenge
When Rostelecom became a General Partner of the XXII Olympic Winter Games and XI Paralympic Winter Games in Sochi, Russia, the firm’s direct connections with more than 150 networks in 70 countries would help them establish the infrastructure needed to support the Games. However, they realized there would be a “Know Your Supplier” challenge and also one in assessing and managing credit risk as suppliers and users quickly came onboard with a need for service.
How It Works: Ramping Up to Service Millions
During the busy planning stages and the actual events, Rostelecom was servicing media representatives, television and radio broadcasting companies, National Olympic Committees, the teams participating, guests of the Olympic Games and sports fans from all over the world who all became the company’s customers during the Games. At a time like this, high quality service still goes hand-in-hand with the need to maintain the company’s high operating standards and corporate compliance practices that include strict Know Your Supplier (KYS) and Know Your Customer (KYC) activities.
Being a major player in the global telecommunication market, Rostelecom began 10 years ago to develop its own way to assess and verify the credibility of potential and existing customers worldwide. Based on the scale of this effort with the Olympic games, Rostelecom selected Dun & Bradstreet as a partner to help with such challenges as “How to check your client portfolio quickly and accurately” and “How to manage credit risks in a particular situation.”
Personal experience gained in the area of KYS procedures and receivables management were inextricably connected to apply the latest techniques to best match the challenges. With Dun & Bradstreet engaged, and based on the strength of the solutions they could apply, Rostelecom significantly enhanced its capabilities.
Results and ROI: The Gold!
With Dun & Bradstreet’s Data Integration Toolkit, performing a prompt check of hundreds of customers at a time was no longer an issue. Rostelecom tracked its credit risks efficiently and accurately. Its customers could be confident about the quality and speed of Rostelecom’s services, and the company was confident in its clients – all thanks to the flexibility of the Dun & Bradstreet solution.