Revenue leakage in utilities

+
Customers Data
1 %
Efficiency
$ 300000 +
Potential savings

Plugging the revenue leakage

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.

 

Revenue leakage - an unintended loss

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.

Reducing revenue loss using automation

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.

 

Unnoticed errors and hidden issues causing leakage

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

  • The new customers account linked to wrong distributors.
  • Customers mapped to wrong region.
  • Sites were under billed than the actual consumption.
  • Accounts assigned to incorrect rate plans or no plans were set up.
  • The billed invoices found to be with NIL values.
  • Unbilled accounts present or active accounts with no invoices sent.
  • Other data errors on inventory setup, incorrect billing dates observed.
 
 

Moving the focus to Revenue assurance

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

  • Increased efficiency– Automation helped our client monitor their process efficiency and make improvements.
  • Standardization of billing operations– Standardizing the data formats for collection, evaluation and sharing. This helps in providing a structured, meaningful and relevant data.
  • Improved customer service– Call center agents have access to the real-time dashboard. This helps them in responding to customer queries on billing & discounts issues.
  • Reduced costs– Automation reduced the frequency of inbound calls and queries. Thus, reducing incoming call volumes from customers and thereby reducing support charges.
 
 
 

Industry

Utilities

Geography

Australia

Client

One of the fastest growing electricity and gas provider

Billing metrics

  • 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

Stemming the leakage

  • Manage and process large volumes of customer data spread across tables
  • Analyze the billing metrics by ingesting them into a data dictionary
  • Ability to flag discrepancies in billing process flows
  • Ability to track the revenue collections and withdrawn invoices
  • Extensible to allow integration with other organizational portals and services

Infoveave features used

  • Multiple Disparate Datasources
  • Advance Visualizations
  • Dashboard and Reporting
  • Alerts and Thresholds
  • Task Automation
  • Custom Reports
 

Interested in Infoveave ?

Ask for a quick tour, to see how Infoveave can bring in change