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Billing assurance large

Billing Assurance

Audits billing related processes, from the time service is first initiated until the bill is generated.

 

diagram utilities billing assuranceBilling is a critical component for all Utility Companies. Auditing the billing process is very important, as there are several risks associated to this process that must be monitored and minimized to control impacts like revenue loss and brand protection, as well as legal and regulatory obligations.

For Billing Assurance, RAID Utilities audits all billing related processes, from the first service offered to a customer until the bill is generated. Billing Assurance tracks performance across three main areas, providing a set of indicators and controls to quantify and classify the various outcomes of the billing process.

KEY AREAS COVERED
Give analysts a broader insight across the organization
  • Billing Quality
    Set of indicators and controls to quantify and classify the several outcomes of the billing processes: rating calculations, bills, bills amendments, invoices, regulatory flaws, etc.
  • Billing Accuracy
    Indicators and controls that measures the level of integration and accuracy of processes that somehow cross different platforms and systems within the company IT infrastructure.
  • Billing Efficiency
    Monitors the efficiency and performance of the billing related processes to assure timely and correct procedures.
CHALLENGES ADDRESSED
Address industry-specific regulatory and compliance requirements
  • How accurate is the billing calculation?
  • How efficient is the switching process?
  • Where do we have abuse and fraud?
  • What percentage of bills are paid in full every month?
  • Do we have systems integration issues?
  • How fast do we solve billing complaints?
KEY RISKS AT A GLANCE
Since the product provides a holistic view of data across multiple business environments and applications, you will get the visibility you need to quickly understand the financial impact and risk of each alarm and quickly identify the root cause of each exception
  • Data Integrity
  • System or Human Errors
  • Processes or Systems Inefficiencies
  • Abuse and Fraud
  • Billing Teams Inefficiencies

MONITOR THE GENERAL HEALTH OF BILLING DATA

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RAID Utilities allows continuous monitoring on the bringing together of data from metering, customer, products/services and the organization flows, like monitor integrity of metering data with service and customer master data, assure that all Billing Concepts are applied or track errors from billing calculation. The Billing Assurance also includes, for regulated and liberalized markets, the validation of the relationship with the DSO (Distribution System Operators) assuring that all billing episodes and supply points are billed according to expected.

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ASSURE THAT BILLING IS ACCURATE AND CORRECT

RAID Utilities ensures that the data used for billing calculations and delivery is accurate by measuring the consistency and accuracy of the information flow from meter consumption to billing, while also monitoring the efficiency and performance of billing-related processes: Billing Accuracy that measures the consistency and accuracy of the information flow from meter consumption to billing; also delivers performance report information along all organization departments; and, Billing Efficiency that monitors the efficiency and performance of the billing related processes that can guarantee a timely switching and contracting and guarantee a timely bill.

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LEARN MORE ABOUT BILLING ASSURANCE FOR UTILITIES

Overview

RAIDUtilities Cover datasheet
 

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