Insight and Action: An updated guide to help utility companies optimize their collections strategies
Tags: Consumer Credit Information, Energy and Communications (TEC), Debt Recovery
The utility industry is facing tough economic challenges and increased pressure to transform. Learn 10 steps utility companies can take to optimize collections strategies in an agile way and overcome the stigma of being less sophisticated in customer insight and risk management practices.
Rising bad debt is increasing the need for utility companies to use appropriate and timely resources to minimize costs. Bad debt is already expensive to collect with still relatively modest balances and the potential for long settlement periods. Therefore, the cost to collect often outstrips the recovery value itself, causing internal and external collection support services to better prioritize existing resources.