Automated billing solutions in energy and utility is a common practice since nowadays it’s about business survival and competitive advantage. MaxBill keeps the pulse of the best practices in the industry and completely shares the opinion of Pamela Largue, a chief customer officer at AGL Energy, stating:
“…We prioritise everything that can improve the cost base and be as efficient as we can, and technology plays a huge part in that.”
Automation should be the number one priority in energy and utility billing and CIS operations. Otherwise, organisations are doomed to lag behind, while competitors fix inefficiencies and innovate with offers that attract your customers.
In this piece, we’ll address how automated invoicing and billing software for small utilities can be a game-changer in the way you perform, deliver, and grow.
Keep on reading.
The automated invoicing software for low-cost and agility
It’s not news that the sector is transforming. But… The transformation of business models is still around the concept of “low-cost support”. Sustainability, affordability, developing the right technology and propositions for customers keep a “low-cost philosophy” to support customers in the future market.
Traditionally, automated invoicing software is a part of SaaS billing for energy and utility and is critical when it comes to delivering agility. See, traditional monolithic CIS products were primarily designed for record-keeping and revenue management but lacked agility. As the energy sector transforms, utilities must adapt by automating key processes to remain competitive.
With agility, you get business capacities backed up with technology to churn out more products and services. It’s not possible without automation at its core!
Therefore, automating customer information functions helps utilities manage customer accounts of different profiles, billing cycles, credit collection, and statement generation with minimal manual intervention. This reduces errors, improves billing accuracy, streamlines financial operations, and keeps cash flow stable and healthy.
Areas where automated invoice system and billing is simply a must
If you’re a utility with cost management and further scalability needs, that needs a straightforward, user-friendly system for smaller teams, then small utility billing software with powerful automation would be enough.
In fact, we recommend to automate the following areas of utility business:
- Account Management & Customer Service: Automating customer interactions through self-service portals, virtual assistants, and omnichannel support reduces call center workload while improving customer satisfaction.
- Billing & Payments: Automation streamlines energy billing processes, enabling accurate invoicing, flexible payment options, and real-time account updates.
- Credit and Collections: Automated alerts and dunning processes help manage overdue payments more effectively.
- Rate Design & Product Management: Dynamic pricing models and tailored product offerings can be implemented more efficiently through automation.
Benefits and outcomes of automated billing services for utilities
- Operational Efficiency: By reducing manual workloads, automation enables utilities to handle large-scale billing and customer management tasks more efficiently.
- Cost Reduction: Minimizing labor-intensive processes leads to significant cost savings in customer service, billing operations, and compliance management.
- Improved Accuracy & Compliance: Automated data processing reduces human errors, ensuring regulatory compliance and accurate customer billing.
- Better Customer Engagement: With automation, utilities can offer personalized services, real-time billing updates, and self-service options, leading to improved customer satisfaction.
- Scalability & Agility: Automated billing system software supports modern utilities’ new business models, such as electric vehicle (EV) charging, distributed energy resources (DERs), and demand response programs. Automation facilitates these transitions.
Why automated utility billing should be prioritized by utilities
Utilities must automate their CIS and billing operations to keep up with evolving market demands, regulatory changes, and customer expectations. Legacy systems are rigid and costly to maintain, making it difficult to introduce new services and pricing models. By migrating to automated, composable architectures, utilities can:
- Adapt to Changing Business Models: Automation enables flexibility in energy provisioning, allowing utilities to support prosumer billing, net metering, and dynamic rate structures.
- Enhance Resilience: Automated systems provide real-time insights and predictive analytics, helping utilities manage grid fluctuations and demand surges efficiently.
- Improve Competitive Advantage: Digital transformation is no longer optional—utilities that fail to automate risk losing customers to more agile competitors offering better digital experiences.
The key takeaway for energy and utility CIOs
Automatic billing for small businesses is not an option anymore but rather a strategic necessity for utilities navigating the complexities of the modern energy landscape. By leveraging automation in CIS and billing operations, utilities can achieve better financial performance, regulatory compliance, and customer satisfaction while preparing for future industry shifts.
