Improving billing and forecasting efficiency
Billing processes can be complex, and are often error-prone and labor-intensive. This has an important impact on customer engagement and capital efficiency.
How to evolve to a customer-centric service leader
By leveraging predictive analytics, AI, and data science you can streamline your billing functions, automate error-prone processes, and accurately forecast revenues, all while transforming your relationship with customers and/or brokers.
These are enablers on your journey to evolve from a commodity seller to a customer-centric service leader.
In this article, we’ll focus on how AI-enabled technology can help you:
5 factors that influence your billing performance
Bring your billing performance to the next level
On the one hand, with the proliferation of smart meters, electricity usage is increasingly recorded in real-time. On the other hand, the energy market has become increasingly complex with multiple generation sources.
Industrial and Commercial (I&C) customers are becoming Prosumers (think about solar & wind energy, and batteries), and they might sell some of their energy back to the grid (reverse billing). Their bill needs to reflect that. I&C customers also require billing across multiple sites and potentially multiple currencies. The result is more data points than ever thus bringing new opportunities to improve your billing performance.
With AI-powered technology, you can enhance your billing performance. By using historical data points and customer behavior, you can accurately forecast the outcome of a bill before it has even been created.
More specifically you can identify:
During every billing cycle, more and more data points will be available that will be used to create a strong customer profile. This will feed the AI-powered technology to ensure even more accurate results in the future. This will also minimize your cost-to-serve by anticipating your customers’ needs.
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