Improving billing and forecasting efficiency
Billing processes are complex, often error-prone and labour intensive with an important impact on customer engagement and capital efficiency.
Advances in predictive analytics, AI and data science mean you can streamline your billing functions, automate error-prone processes, and accurately forecast revenues at the same time as transforming your relationship with customers and/or brokers. These are enablers on your journey from commodity seller to customer centric service leader.
At Itineris we solve many interesting use cases for utilities with AI-enabled technology . This section focuses specifically on how AI can:
The 5 factors that influence your billing performance
Bring your billing performance to the next level with AI
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.
A focus area of Itineris is to use AI-powered technology for enhancing billing performance by accurately forecasting the outcome of a bill before it has even been created using historical data points and customer behaviour.
More specifically identify:
During every billing cycle more and more data points will be available that will feed the AI-powered technology to ensure even more accurate results in the future.
All data insights captured during the customer life cycle will be used to create a strong customer profile. AI-powered technology will use these customer profiles to ensure maximum added value for your end customer and minimize your cost-to-serve by anticipating your customer’s needs.
5 tips to successfully navigate the Half-Hourly Settlement
UK energy suppliers must manage many regulatory obligations and industry standards, including MHHS. Learn how our software can help you navigate these.
Itineris unveils CleverCollect: a new intelligent billing and dunning software for utilities
Itineris' new intelligent billing solution CleverCollect provides vital intelligence to move from a one-size-fits-all e-bill enrollment and dunning strategy toward a more effective, personalized approach to customer payment journeys.
Helping utility customers become water conservation heroes
To optimize water conservation initiatives, utilities are streamlining their processes and implementing automated insights. Learn how your utility customers can become real water conservation heroes.