- Sales & Cancellations
- Un-Billed Accounts
- Under billed sites
- Billed Volume analysis
- Payments and Refunds
- Invoice analysis
- Debtor analysis and Debtor Aging
- Payment Plan and Hardship
- Consumption analysis
For any business, growing profits and revenue assurance are the main focus areas. Revenue leakage is omnipresent throughout its process workflow. Businesses are under strict deadlines from stakeholders to show improvements in collections.
Utilities, like any other industry, is prone to the same. The need to supplement internal operational costs is historic. This makes reducing the leakages even more critical. As it will help by improving your bottom-line margins. Data automation, aided by decision intelligence, can help solve the problem in hand.
The client is an Australian utility major. They provide electricity and gas to households and small and medium business sites.
The client observed discrepancies in billing and revenue collection. They wanted to understand the causes and see how they can address those issues.
The complexity of the task was to study disparate data spread across 1000+ tables to find the hidden gaps. This data included customer info, account details, billing plans, discounts and concessions, payment plans and collection details.
Infoveave pulled in over two years of operational and billing data. The data was spread across over 1000+ tables. To better understand data the team created a data dictionary. This document includes the billing metric and its corresponding data points.
Infoveave RPA involved tasks to ingest and analyze the billing and customer data. Infoveave processed terabytes of data to highlight discrepancies.
Targets and Thresholds defined alerts to flag errors. These errors can be in daily invoices, billed accounts, revenue leakage threshold. and so on. Infoveave notifies stakeholders in case any breach.
A live interactive dashboard tracks the KPIs on invoices, payments received or delays. The Reports module sends custom reports to the business users at various levels.
On a deeper analysis, several issues came into light. They had a direct or indirect impact on the billing efficiency. This helped the client to do a root cause analysis of the problem. Some of the key issues highlighted by Infoveave are
Infoveave helped in plugging the revenue leakages and optimizing the cash flow. A live interactive dashboard, makes visibility to real time operational data was possible. This brought improvements on related processes as well. Some of the benefits gained are as follows
Stemming the leakage
Infoveave features used
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