09 Jun Is your utility organization impacted by these trends in bill payments?
The world around us is rapidly changing with new technological advancements being introduced almost every day – And the habits of customers are changing with it.
In days gone by, customers expected to physically mail checks for payment, even stand in a queue to pay their bills – it was a part of life. But people have become much more conscious of their time and they expect to be able to pay their bills while travelling to work on the bus or train, or while they have a coffee before work. It’s not something you take time out of your day to do anymore.
They are also becoming increasingly intolerant with organizations that don’t allow them to pay easily. If they can take their business to a competitor with online billing facilities, they will rush to do that. If they can’t, they’ll complain bitterly.
Recent Utility Industry Surveys overwhelmingly show this, with 74% of customers saying a lack of online bill pay leads to higher dissatisfaction levels with their utility provider. Experts estimate that 60% of calls to utility companies are from unhappy customers calling about billing challenges and 71% of customers say that online bill payment options prevented a phone call to customer service.
It’s estimated that utilities save $12 annually for each customer using paperless billing – for a utility organization with 10,000 customers, that translates to $120,000 each year. And that’s just the direct costs. Imagine how much more productive staff become when they don’t have to deal with a stream of customer complaints each day.
So you’d think they would be rushing to embrace online billing technology. But statistics show the reverse is true. Utility organizations are resistant to change. 75% of utility companies do not have online bill pay functionality, while an incredible 35% do not even offer automated bill pay at all!
The reluctance to change is understandable – When you’re faced with the possibility of costly disruptions to your service causing even more customer complaints and the prospect of having to retrain an older workforce who are overwhelmed by technology – It’s not something you rush to embrace.
This is why a lot of our effort with the Diversified billing system has gone into the actual upgrading process. We’ve invested heavily in integration – ensuring our system integrates seamlessly with all major accounting software, and we have a team on hand to facilitate custom integrations.
Support is critical when you’re moving staff to a new system, so it’s something we excel in. If you read the testimonials of other utility managers, they always comment on just how good our support is.
We also built our system to run happily on different platforms. So we can get you up and running with diversified software, using your existing server or LAN, without the hassle of having to put in new hardware and disrupt all existing programs.
If you want to upgrade, we can move you over to the cloud, very quickly and efficiently at a time that suits you. And finally, we can help with your workload. We have reliable outsource staff, who can run your billing, collect payments, even answer the phones. And then if a future board want to change platforms, you don’t have to look for a new system. Just turn the dial and select your service.
We’ve spent a long time working with utility organizations, to build software that will easily integrate with your existing system, while keeping pace with future trends.
It’s designed to give utility managers real peace of mind! Book a no-obligation demonstration today and find out just how easy it is to get with the times.