Category: Utilities
Champion-Challenger Collections Model
Competition brings out the best in us. Keep that in mind when considering what to do with your accounts receivables. Having a single, reliable collection agency partner may prove successful. But do you ever wonder if your collections partner could do better? Rather than leaving one partner and finding another, consider a Champion-Challenger model. Engaging
Utility Roundtable Reveals How to Decrease Receivables
Utility organizations faced major challenges at the outset of the pandemic and continue to struggle with the effects today, especially when it comes to recovering past-due accounts. That’s why IC System brought together three experts in utility debt collections on May 18 to discuss these issues in a video roundtable called How Utilities Can Emerge
Best practices for cold-weather utility industry debt collection
When it comes right down to it, utilitiesā both government-run and private sector ā provide essential services to communities across the U.S. Still, delivering water, electricity and natural gas isnāt free, and when customers fail to pay and then fall seriously behind on their bills, a utility company has no choice but to take action.
Utilities: Decrease accounts receivables and costly debt write-off
Itās a common scenario for a public utility company: Every few years, the governing body mustĀ hold its nose and vote to write off millions in uncollected debt. Of course, in many states, statutes of limitations force this unwanted step because after a debt reaches a certain age, itās no longer legal to collect it. DespiteĀ best
Inform customers of utility bill spikes
A faulty air conditioner during a heat wave or an undetected water leak are two things that can rack up hundreds of dollars on a utility customer’s monthly bill. These higher-than-expected utility bills can disrupt your customerās budget, which canĀ result in a delay in payment or even nonpayment. Whatever their financial situation may be, you
Be proactive to help your customers avoid deep utility debt
For a utility company, a block of unpaid bills on the books can be a millstone. Unfortunately, with each missed payment, your chances of recovering the money starts slipping away.Ā To help you get paid more quickly, take a look at some preventive measures and strategies toĀ deal with these common situations. Old debts: In many states,
Best practices: collecting from rental properties
Not all tenants are alike. While many pay their utility bills on time, all the time, some are prone to skipping town and leaving their landlord behind to make up the balance. To smooth over this unfortunate process, here are some strategies and best practices when working with tenants and landlordsĀ in utility collection and delinquency.
Utilities and back-billing undercharged customers
Some problems donāt come with obvious solutions. For example, one issue that has been making headlines is malfunctioning meter equipment,Ā which results in back billing customers to make up for the losses. When equipment does not function correctly and it turns out the customer has been underpaying for the product, the utility often finds itself with
5 New Sources of Utility Revenue
Trying new things. If youāre a utility provider, finding a new revenue stream may feel like a challenge and a risk. But most regulated utilities providers are seeking one or more new revenue streams, according to Utility Diveās 2016 State of the Electric Utility Survey. Finding new and alternative sources of revenue is a primary
Learn about laws, taxes that can impact utility prices
Utility prices such as electricity and natural gas rates may vary across your state. This can be a source of frustration for your customers, especially if they are comparing rates between public and private utilities. According to an analysis by the New York Times, in 32 of 48 states, customers pay less for public utilities
