A utility payment solution is a way for residents to manage utilities like electricity, water and refuse on data-enabled devices. Every constituency has unique needs based on geography, population size and income, but common challenges include business process inefficiencies that can result in costly late fees and missed payments.
To reduce these challenges, utility companies can leverage a variety of digital billing processes to get bills into customers’ hands faster and help prevent late payments. These include electronic billing, a secure online portal for online payment processing, and mobile applications for paying bills on the go.
Unlike traditional paper billing, online utility billing allows for real-time information flows that communicate invoice status to both parties. This helps reduce the risk of errors during invoicing and delivery, and it also provides a clearer picture of expected payments.
Additionally, electronic payment processing helps eliminate manual steps and paperwork, and enables more timely issuance of statements to customers. This can result in a significant reduction of the costs associated with paper statement production and mailing.
Recurring ACH credit payments allow residents to pay their utility bills automatically each month, so they never have to worry about missed payments or lost checks. This can help reduce administrative expenses and improve customer satisfaction by lowering the cost of collecting payments, while increasing cash flow for the utility company.
For added convenience, customers can use a free branded mobile application to make payments from anywhere at any time — including late at night or early in the morning. Clients can also set up recurring payments, so they’re always on track to make their next bill payment on time. utility payment solution