What is utility bill management software? At MaxBill, utility bill management encompasses billing and revenue management processes that allow businesses to thrive under current energy transition conditions and market and customer demands.
What do we mean by that? As a utility business, you can scale up, expand product and service lines, transition from utility to multi-utility, operate under multiple business models, add new services (like EV charging), new tariffs (e.g., feed-in ones), apply new incentives like energy efficiency programmes, etc., and our billing and revenue management system will support you at every step of the way.
Keep reading as we dive into what is a utility bill management system by MaxBill and how your business can benefit from it.
Utility bill management system by MaxBill
Revenue management at MaxBill encompasses a suite of processes designed to streamline financial operations, manage device measurements, bill customers, and collect revenue. This comprehensive approach ensures that all financial transactions are accurately recorded, customers are billed correctly, and revenue is collected efficiently.
Key Processes in Revenue Management
Managing financial processes is a core aspect of MaxBill’s revenue management system. This includes the GL Interface, which handles various financial transactions resulting from billing, payments, or other activities. These transactions are posted accurately in the organization’s General Ledger, ensuring financial transparency and accuracy.
Additionally, managing adjustments and approval is crucial. This process involves approving any financial adjustments by the appropriate managers before they are applied, which helps maintain accuracy and accountability in financial reporting.
Manage device measurements and bill customers is another vital process in MaxBill’s revenue management. This includes collecting and processing meter readings, which involves validating and updating these readings to ensure accurate billing. The process also includes applying miscellaneous charges that may not be part of the regular billing cycle, ensuring that all charges are accounted for promptly.
Utility bill management is a significant part of this process, encompassing several subprocesses. Managing billing disputes involves handling customer complaints about billing errors and resolving them efficiently. Utility bill management inquiries includes responding to customer questions about their invoices and providing necessary clarifications.
The regular bill run automates the billing process to generate and distribute invoices regularly, ensuring timely and accurate billing for all customers.
Collect revenue is the final key process in MaxBill’s revenue management. This involves managing auto-payments, which automate the collection of payments, reducing manual processing and ensuring timely revenue. Managing collection activities systematically pursues overdue payments to minimize bad debt, while managing credit card payments processes these payments securely and efficiently.
Managing late payment charges applies charges for late payments systematically to encourage timely payments. Performing collection activities involves regular follow-ups and clear communication with customers regarding overdue payments, ensuring that all revenue is collected efficiently and effectively.
Related:
What is a utility bill in your organisation today?
Hyperautomation and AI-driven processes in MaxBill utility bill management software
MaxBill utility billing solution always meets market needs and delivers solutions that can address challenges and contribute to companies’ expansion. First and foremost, we provide hyper-automation.
Hyperautomation at MaxBill leverages advanced technologies like Machine Learning (ML) and Artificial Intelligence (AI) to automate complex business processes, providing significant benefits to utilities. By integrating these technologies, MaxBill enables predictive maintenance, which reduces downtime and maintenance costs by anticipating equipment failures.
Hyperautomation also enhances load forecasting, allowing for more accurate demand predictions and optimized resource allocation. Additionally, it streamlines utility billing management and revenue reconciliation processes, ensuring timely and accurate billing while minimizing manual intervention.
This comprehensive approach improves operational efficiency, enhances customer service through AI-driven interactions, and ensures compliance with regulatory standards. Ultimately, hyper-automation empowers utilities to optimize their operations, reduce costs, and provide superior service to their customers.
Going further with Machine Learning and Artificial Intelligence, we provide predictive models that allow us to predict and prevent customer attrition and “debt-prone contracts.” Built-in what-if simulation allows working out and assessing scenarios that can potentially fix the situation with a contract and the existing customer behind it.
Chatbots, digital customer self-service for better customer engagement, and virtual CSRs to make customers even more loyal – we’ve got you covered here as well.
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Utility bill management platform for utility suppliers
Nowadays, utility suppliers transition from utility to multi-utility suppliers. They want to ‘go the extra mile” with customers and not just deliver commodities but extra services that meet customers’ needs and wants.
Of course, we realise that utility suppliers differ in each European country. Moreover, such things as the rollouts of smart meters affect the kind of services provided to customers. That’s why modern utility bill management and revenue reconciliation come more as a SaaS, modular solution rather than a monolithic solution requiring the transformation of the whole legacy systems. Besides, it ‘looks scary’ for decision-makers who are more into successful pilots’ fulfilment and further corporate ‘evolution’. It’s hard to get buy-in from stakeholders for a complete overhaul of the system.
The dilemma is pretty understandable and yet resolvable.
At MaxBill, we understand the challenges utility suppliers face and deliver modern utility bill management software for utility suppliers that allows them to achieve three key things: perform better, deliver better, and gain more.
Related:
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Utility bill management software for energy suppliers
Energy comes as a service today. The statement is not new, yet implies businesses adjusting their business models, augmenting revenue streams, striving to be flexible when it’s about getting quick compliance with a new regulation, adding innovative services to the portfolio, etc.
Energy transition has changed the market. So has changed the utility bill management system for energy suppliers. Such a solution, nowadays, prioritizes enhancing meter-to-cash capabilities, improving customer engagement, and increasing the flexibility of services, particularly emphasizing multi-utility support and cloud-based solutions.
MaxBill utility bill management platform for energy suppliers stands out as an essential partner in energy transition, offering a SaaS platform that delivers a modular suite of business functions seamlessly integrated through an advanced orchestration platform.
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Utility bill management platform for retail energy providers
Imagine a service provider installing and managing a battery storage system at a customer’s location. The customer then pays for the energy used from the storage system, which proves especially beneficial during peak demand times or power outages.
Or, consider subscription-based lighting solutions. These energy-as-a-service offerings provide businesses and industries with a complete lighting service through a subscription model.
The service provider handles the installation and maintenance of the lighting infrastructure, while clients pay a regular monthly fee for using the lighting services.
The question is does the organisation have modern utility bill management software for energy retailers that сovers appropriate billing and revenue management capacities? Whatever the business model and kind of energy product and services business has in its portfolio, MaxBill’s utility bill management system for energy retailers is designed to meet modern business needs.
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Utility bill management for commercial and industrial
Modern billing and revenue management supports billing for various customer segments, including residential customers, small and midsize businesses (SMB), and large commercial and industrial (LC&I) clients.
Nowadays, B2C energy providers become B2B energy providers offering Power Purchase Agreements to manufacturers and commercials. Whatever the contractual relationship a business has, MaxBill can cover it with its utility bill management system for commercial and industrial.
Related:
Covering Half-Hourly Meters for Large Businesses and Industries.
Utility bill management system for public utilities
Public utilities is a matter of interest for MaxBill. The fifth generation of the product allows us to deliver our utility bill management platform to public utilities, factoring in their peculiarities, and realities they exist in (like Ofgem regulations’ coming up, energy caps, etc.)
Our utility bill management platform for public utilities is a comprehensive meter-to-cash solution that offers public utilities an integrated platform to manage a variety of services, including water, electricity, natural gas, and telephone service. It handles the entire process from metering to billing, debt management, and revenue assurance.
MaxBill excels in performing rapid and precise calculations, producing clear and transparent invoices. Additionally, it is ideal for managing relationships with partners, vendors, and customers, helping to lower service costs and boost customer satisfaction.
Utility bill management platform for independent utilities
Independent utilities can be more “creative” in their service provision. What if you’re an independent utility looking to integrate Distributed Energy Resources (DER) with features to support self-generation charges, net metering, feed-in tariffs, capacity and congestion charges, and community energy programs?
Does an existing revenue and utility bill management system for independent utilities work in your case? Whatever expansion endeavour you entertain, such a system should be capable of delivering desired business outcomes.
Utility bill management software for tenant properties
Tenant billing is MaxBill’s cup of tea! This year is the year of tenant billing for Housing Associations (if talking about our UK clients!). We’re aware of the housing crisis across the country. Housing Associations struggle to keep their charitable status and activate their business efforts with market rent.
Whatever the business model is in a particular housing association, we can support it with our tailored utility bill management system for tenant properties. MaxBill streamlines the processing of tenant data for both metered and non-metered services such as water, heat, chill, electricity, and gas, as well as standing charges like admin fees, gas standing charges, and meter maintenance.
Utility bill management system for tenant properties allows automatically to generate accurate invoices for all stakeholders, including leaseholders, housing associations, managing agents, and tenants.
Our SaaS solution integrates CRM, billing, and reading management into a single platform, offering automated and comprehensive control over property and customer processes. Additionally, it supports the onboarding of new commercial partners to drive business growth.
Related:
The Ultimate Billing System for Housing Associations in the UK.
Utility bill management system for municipalities
Tell us what are your municipality’s peculiarities. What are the related regulations in your country? Does an existing utility bill management software for municipalities meet your current needs and future requirements?
MaxBill offers a smart utility bill management system for municipalities and city services and facilities to efficiently manage all services and payments through a unified, centralized system.
It supports both flat rate and consumption-based billing, handles one-time and recurring charges, and manages meter connections, disconnections, and relocations. Additionally, MaxBill facilitates charging and billing penalties as well as processing automatic payments.
Utility bill management system for heating networks and cooling
The ultimate utility bill management system for heating networks delivered by MaxBill is robust and adaptable to address the evolving regulatory landscape and the specific needs of the sector.
With recent regulations such as the Heat Networks Regulation and updates to the EU Energy Efficiency Directive, it is crucial that your utility bill management platform for heating and cooling companies not only complies with these standards but also enhances operational efficiency and customer satisfaction.
MaxBill’s meter reading and billing software is designed to meet these demands by integrating advanced functionalities that support both standard and smart meters, handle various billing methodologies, and ensure accurate, transparent invoicing for all stakeholders involved, including leaseholders, housing associations, and tenants.
Moreover, an effective utility bill management system for heating networks and cooling companies must offer comprehensive meter reading management, support for diverse meter types, and seamless integration with order management processes. It should include robust validation systems to ensure data accuracy, provide flexible options for updating and assessing meter readings, and generate precise estimations for missing data.
By incorporating features like automated billing cycles, detailed consumption records, and efficient debt management workflows, MaxBill’s utility bill management platform for heating and cooling companies ensures fair billing practices and helps reduce operational costs. This level of sophistication not only meets current energy efficiency regulations but also facilitates business growth by onboarding new commercial partners and improving overall customer satisfaction.
Related:
Heat Billing Services by MaxBill: We Know Ins and Outs in the Sector.
