CHOICE Revenue Intelligence for Cash Collections
Choice Revenue Intelligence™ for Cash Collections supports utilities to maximise cash flow providing insightful information regarding the next best action to reach out to default customers that missed one (or more) payments.With the set of business applications available on Choice Revenue Intelligence™ , electricity, water and gas distribution and/or retail companies can support the bill-to-cash business process, complying with dunning rules in place and being able to proactively understand customer payment behavior.
The following video illustrates how Choice Revenue Intelligence™ for Cash Collections supports Negotiations.
From a business perspective, two customers owing US$ 1000 might not require the same behavior because one might be owing 4 bills of US$ 250 whilst the other is owing only one bill of US$ 1000. Choice Revenue Intelligence™ for Cash Collections empowers you to decide wisely what to do next with each one of these customers.
Pattern Detection enable any business user to configure specific business rules and related business strategies for cash collections, that will support, but are not limited to, the execution of dunning rules.
With Customer Analysis, each company will be full visibility on contracts, bills and payment across the full lifecycle of their relationship with each customer, supporting the decision-making process.
Selection empowers the business analyst to prioritize which customers to engage with to collect ageing debt using criteria such us payment propensity, total amount due or even clustering customers geographically to reduce commuting times, only illustrating a few examples.
Analytics provides monitoring capabilities to follow-up on the main KPIs related with Cash Collections, not only for reporting purposes but as well to support selection strategies.
Last but not least, Choice Revenue Intelligence™ for Cash Collections includes a Machine Learning Engine that is the foundation to execute embedded algorithms to calculate payment propensity and to predict changes in payment behaviours that empower proactive initiatives to safeguard the wholesomeness of your account receivables.
To support the end-to-end bill-to-cash business process, utilities might need to execute a set of use cases:
- Send notifications (SMS, emails, letters, etc..);
- Call Customers;
- Ask support from Credit Agencies;
- Negotiate payment plans, discounts or rebates;
- Execute Disconnections;
- Or, Notify the court, among others.