Successful control of utility bills and energy has proven to be a massive problem for companies trying to keep up with the average pace of their work.
The main reason for this issue is the continuing dependence on manual processes and bills printed on paper. However, with the rapid shift to digital and remote processes becoming the norm, businesses need to accept the trend towards digitalization in utility billing and energy management.
Utilities have one aim when they decide to switch to a different billing system: To be more efficient. This, in turn, results in savings over the long term. With today's challenging economy, any method utilities can come up with to save money is appreciated.
With the help of automated billing, utilities can decrease the required workforce, resulting in savings immediately. They won't require the same number of employees to deal with billing problems if the software can do the job for them. Also, reducing the number of people working in the billing department won't require sacking these talented employees. Utilities can train personnel in the billing department to accept other roles in their municipal utility or with other departments within the utility.
Automated billing software permits utility employees to concentrate their energy on other activities. For example, they could be more productive in the utility's customer support department, answering questions from residents. They can also analyze the reports generated by the billing software to identify leaks that could be costly. Additionally, they can analyze these reports to discover ways to reduce water and lower the overall cost of offering this water to customers.
Today, automated billing systems offer numerous reports and services beyond simple payments notices to customers. Smart water utility managers are aware of these new advanced features and utilize these reports to manage their water services efficiently and cost-effectively.
Every disruption offers an equal chance for innovation. Now is the perfect time for businesses to push for a digital revolution in the traditional utility bill and energy administration. It is now the perfect time to streamline and standardize processes, centralize data collection and payment procedures, and, finally, monitor and determine the trends in energy and utility consumption to increase energy efficiency.
But Why do you need to automate your utility billing process?
Reduce the Utilities Bills Cycles
Nothing can stop the utility bill cycle as a pile of unpaid bills. Clearing invoices is an arduous process in which bills must be processed, verified, then submitted to the appropriate authorities for approval, and finally paid.
About 20% of utilities' customers settle their bills using credit-based or electronic payments. The remaining 20% pay online via their banks. In all, around 50% of the district's customers mail their checks each month directly to the department that bills utility customers.
A paper trail can take longer with invoices being delayed in processing or sitting on the desk for approval, and a central digital platform could make the entire process more smooth.
When your customers receive digital utility bills, an automated workflow could remove the tedious processing tasks from their hands while also improving billing and approval cycles. As the billing cycle improves, they can enjoy a better relationship with the providers. They can also enjoy the advantages of special offers only available to them.
Assured Cost Savings and Efficiency
Automating the collection of utility bills can boost the savings by a significant amount!
By leveraging the effectiveness through an automation workflow supervised by a skilled team of experts in process engineering and analysts, you will increase your savings by implementing more efficient processes and you can avoid paying wastage for your skillful assets.
In addition to this, automating utility bills and management can provide real-time usage information. Therefore, it could effectively monitor trends over a long time when your team utilizes this information to take energy efficiency measures that reduce consumption on behalf of consumers by forwarding them insights about their usage.
Better Consumer experience!
To improve customer service, companies need to offer customers the chance to utilize the latest technology to manage their service. For instance, consider an example where a customer logs in to the website of the company or its mobile application to learn about the billing problem. The customer will likely check for the entire bill on the customer portal. The customer will require support to get clarification on the problem. A data-driven CX platform will help agents solve customer issues in a faster and more efficient manner. A robust analysis model based on customers' data will reveal relevant information that can aid agents in providing superior customer service. Based on the data available about the previous communications with customers, usage patterns, and billing details, the system will recognize the problem even before the agent and customer meeting. Also, automated messages with the insights about the uses is a huge boost to the customer service ecosystem.
Technology is revolutionizing the ways utilities are managed. The right technological decision can keep companies from losing customers and enhance their brand image in the marketplace.
"Today utilities are ready to change their policies to make the transition to the more modern billing software."
Even small-scale utility companies are willing to make a move into automated billing today. They realize that the advantages from this system are worth the effort of moving from outdated systems that usually do not offer the flexibility and features of the latest programs, or more importantly, paper and pen billing practices.
In the case of utilities, prior to changing to an automated billing system, they should remain flexible to understand that they will require a complete review of their current policies. For example, they might be required to verify that their billing procedures work perfectly with the software they're purchasing.