Analytics: The Customer-Friendly Collections Solution
Unpaid utility bills are a wasteful expense for all involved. Utilities spend money on in-house collections staff, and they’ll spend even more in lost revenues if they must share receivables with an outside collections agency. On top of these financial costs, there’s a reputational cost. Utilities can look unsympathetic when they cut customers off, and they’re certainly likely to lose goodwill among those who’ve lost service.
Analytics can help utilities understand and segment late-pay customers for targeted communications, evaluate the cost of collections versus the risk of write-off and continuously fine-tune collections approaches for optimal return.
This white paper covers some of the advanced capabilities analytics can bring to utility credit and collections efforts. By leveraging data, utilities can minimize write-offs and strengthen customer ties.
Download The White Paper Here