By Noah Solomon, Senior Research Analyst –
Collections are a hassle for customers and utilities alike. For utilities, collections can be frustrating and difficult, not only on the customer side but also in the back office. The collections process can be long and inefficient, resulting in wasted efforts and resources. When your utility deals with collections, you don’t want to waste time and money to collect money already due to you. So, what solutions are available?
Tucson Electric Power has solutions, having made significant improvements to its collections process by implementing changes including shifting collection agency costs to debtors, mailing disconnect notices along with bills instead of separately, and scheduling field crews to disconnect customers strategically by route and amount owed. These process improvements are saving TEP approximately $400,000 a year in postage costs and helping the utility avoid a significant amount of collection agency fees, resulting in a much better return on investment for its collections department.
If your utility could use more effective and efficient collection methods, join our webinar on Saving Money with Credit and Collections Process Improvements on Wednesday, Aug. 8 at 2 p.m. Eastern to hear Kevin Rhea, Credit & Collections and Remittance Supervisor at TEP, discuss how the company implemented these changes to its collections process to save time, money and effort. We hope to see you then!
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