Utility companies are constantly under pressure to reduce operational costs, embrace digital technology and enhance operational efficiency. At the same time, they are facing new requirements and demands from industry regulators to ensure that consumers are treated fairly when they fall into arrears and that vulnerable customers are identified and their needs taken into account in the collections process.
According to the Ofgem 2018 Vulnerable consumers in the energy market 2018 report “Suppliers need to proactively identify which of their customers might be in a vulnerable situation and offer tailored additional services to help them engage with their supplier”.
For example, Collaborate, our digital self service collections solution allows ‘can’t pay’ customers to ‘promise to pay’ on a given date, complete an income & expenditure affordability assessment securely online as well as being able to create a payment arrangement or offer a social tariff in line with the outcome of the affordability assessment -all without agent intervention.
At the same time, the solution can take consumption data (actual or estimated) from the billing system and ensure that payment plans reduce arrears while paying for current usage.
Your customers will benefit from a clear, user-friendly, jargon free, uncomplicated customer journey, including where appropriate, signposts to debt advice organisations along the way.
What are the benefits to you?
- Fair and appropriate arrangement and promise creation
Allowing arrangements that are reasonable and affordable to maintain, reducing broken commitments through a first-time resolution, (regulation)
- Sentiment and vulnerability assessment using machine learning
Understand how your customers are feeling about managing their debt and prioritise identifying and helping vulnerable customers thereby helping protect the reputation of your business.
- Easy-to-use collections agent management and support
Providing context-sensitive information for every customer interaction so that agents, empowered by augmented intelligence, have productive, relevant conversations leading to an effective arrangement every time
The results that our debt collection solutions can provide for utilities can be seen in a matter of weeks, and because our solutions are modular and can be layered in to your existing IT infrastructure, implementation can be quick and cost effective. At Flexys we know collections and we understand the utility sector and the importance of establishing a sustainable debt resolution for the business and the customer.