Client Background
Our client, a prominent MAP in the UK, faced ongoing issues with the accurate billing of energy providers for the use of their meter assets. Discrepancies in billing were frequent, leading to disputes, strained relationships, and revenue loss. The existing system lacked the capability to track usage and billing accurately, which hampered our client's financial performance and customer relations.
Their Challenge
The key challenge for our client was to overhaul its billing system to ensure accuracy, transparency, and efficiency. The goal was to establish a fail-proof method of tracking meter usage and automating the billing process to energy providers, thereby reducing disputes and enhancing revenue collection.
The Solution
Our client opted for Beboc's Vision, a SaaS solution designed to offer unparalleled asset management capabilities, including sophisticated billing tracking. Vision’s deployment started with a comprehensive audit of our client’s existing assets and billing processes, followed by a tailored implementation plan. The software seamlessly integrated with our client's IT infrastructure, providing a centralised platform for tracking every meter asset's usage and streamlining the billing process.
Solving Their Challenge
Implementing Vision led to transformative outcomes for our client:
- Reduction in Billing Disputes: Automated and accurate billing based on actual asset usage reduced billing disputes with energy providers by 90%. This improvement was attributed to the transparent, data-driven approach facilitated by Vision.
- Increased Revenue Recovery: The accuracy of the billing system ensured that every usage of an asset was correctly billed and collected, leading to a 15% increase in revenue from asset leasing. Additionally, previously unbilled or underbilled usage was identified and corrected, further enhancing revenue.
- Enhanced Customer Satisfaction: The transparency and reliability of the billing system improved relationships with energy providers. Providers appreciated the clear communication and accurate billing, which fostered trust and loyalty towards our client.
- Operational Efficiencies: The automation of the billing process significantly reduced manual labour and errors associated with billing. Our client's staff could now focus on customer service and strategic initiatives rather than dealing with billing discrepancies.
- Strategic Insights for Business Growth: Beyond billing, Vision provided our client with analytics and insights into asset utilisation patterns, enabling the company to make informed decisions about asset purchases, deployments, and retirements.
Conclusion
The adoption of Vision revolutionised our client's approach to asset billing, transforming a problematic area into a strategic asset for the company. Our client not only improved its financial health through more accurate billing but also strengthened its market position through enhanced customer trust and satisfaction. Vision's impact extended beyond billing, providing our client with a comprehensive toolset for managing its meter assets more effectively and strategically planning for the future.
