5 Ways Paperless Billing Will Save Your Utility Money

Desktop views of the billing workflow screens
Paperless billing allows utilities to offer a convenient way for customers to receive their bills and make payments on time. For providers, choosing to embrace paperless billing through a self-service web portal is an excellent opportunity to save money, increase profit margins, and invest back into your employees and equipment—increasing customer engagement and satisfaction across the board. Here are 5 ways going paperless can save your utility money.

1. Paperless Billing Strengthens Your Revenue Cycle

Before paperless billing, revenue cycles had the potential to be very slow. It could take a long time for bills to arrive to your customers, and even longer for them to send their payment back to your billing department. Paperless billing can dramatically speed up this process by enabling your customers to access their bill through a self-service web portal as soon as it is posted. From here, they can make a payment instantly, at any time, anywhere they have an internet connection. In the end, customers will be able to better engage with your utility, and you’ll see a faster turnaround on billing, resulting in improved revenue cycles.    

2. Paperless Billing Reduces Strain on Your Employees

With paperless billing and self-service web portals, customers are able to take control of how, when, and where they pay their bills and access their information. This level of access greatly reduces call volumes received at your contact centres, which, in turn, reduces the strain on your employees to effectively address customer concerns. With lower call volumes, you’ll see an increase in employee satisfaction, as well as their preparedness to serve customers who do need to speak to a member of your customer service team.

3. Automating Workflows Allows Your Employees to Shift Focus

Paperless billing allows utility providers to automate manual tasks that, while necessary, are not the best use of time for your employees. With paperless billing, employees can shift their focus to completing higher-value tasks. Think of the old saying “Time is money.” By making better use of employee time, you’re also making smarter use of your money.

4. Paperless Billing Reduces the Costs Associated with Physical Bills

When customers sign up for paperless billing, you’ll quickly reduce the costs associated with sending out physical bills. Not only that, the days of losing bills and payments will be a thing of the past. Bills will conveniently be posted online, and can be paid the same way at your customers’ convenience. If a customer moves, they’ll still receive their bill online at the same time they always do, improving your revenue cycle while keeping them satisfied with your services.

5. Going Paperless Helps Employees Send and Receive Accurate Information

Choosing a paperless option has additional benefits that aren’t specific to billing. For example, going paperless allows your customers to quickly provide you with information related to service issues in their neighborhoods without having to contact customer care and potentially face a long wait while your employees address other calls. It also allows you to automatically inform customers about upcoming work or planned outages without having to send notices by mail. With this flow of accurate information, you’re less likely to have to spend additional time, and money, sending employees out into the field to address potential issues. Instead, customers can be made aware of any changes related to their utility, and you can have a more accurate understanding of work requirements before sending employees on service calls. 

Start Saving Money Today With Capricorn

When you choose Capricorn for your utility’s paperless billing needs, you’ll quickly see a return on your investment. That’s because Capricorn is designed specifically with utilities in mind. Water, gas, and electric utility providers can all benefit from Capricorn’s intuitive design, customizable capabilities, and easy-to-integrate framework—both from a customer service standpoint, and a financial one. To learn more about Capricorn and its paperless billing capabilities, download your FREE Utilities Guide to Customer Satisfaction & ROI with Smart Technology today!  

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