The utility bill system of a business should be cost-efficient and effective to allow the business to achieve its goals. Outdated systems to handle utility bills are time-consuming and prone to errors at every step.
When multiple utilities are involved, utility bill management becomes even more complicated. Outsourcing utility management solutions make good business sense for businesses looking to achieve higher customer engagement.
Is Outsourcing Utility Bills Possible?
The information contained in utility bills is confidential and businesses are often apprehensive of sharing this information with outsiders. Sending your utility bill data to an outsider can be a risky endeavor unless the party is an outsourced specialist in utility management solutions. Outsourcing partners can help a company reduce the time and effort required to process utility bills.
Achieving Higher Customer Engagement By Outsourcing Utility Bill Services
Traditional utility bill processing comes with short pay periods and long cycle times. This system is inefficient and requires checks and balances to ensure correct billing. Businesses must process bills for different utility accounts, such as water, gas, electricity, and waste. As this data is available in different units of measurement, processing it manually can be a tedious task. Additionally, manual processing of utility bills requires manual collection of utility bills and tons of hours to make the data into a usable format.
Outsourcing utility bill data leads to better compliance with regulations. Outsourcing partners use advanced data capture technology along with the methodology to streamline utility bill processing to give shorter turnaround time and lower costs. Since outsourced partners are experts in data handling, they protect the customers and companies from any potential data breach and offer accurate billing services within much less time.
How ARDEM Helps Businesses With Utility Bill Management
ARDEM uses artificial intelligence and machine learning to streamline utility bill data collection which leads to automated utility bill processing. ARDEM utility manager. A cloud-based Based solution at ARDEM reduces the average cost of utility bill processing by 30%.
Vendors use their billing format and metrics to define usage and consumption. ARDEM’s utility database has innumerable vendors listed which helps quick data extraction and accurate utility bill processing.
You can directly send your utility bills to ARDEM’s cloud network where your utility bill data entry will take place and the bills get sorted and processed in real time. ARDEM data capture extracts utility bill data from specific fields with the help of advanced technology.
Approved vendors receive automatically generated notifications to decrease the cycle time, further accelerating the processing time. Businesses can integrate the sorted data from various vendor formats and download a file to integrate it into their existing system with a breeze.
ARDEM transforms your existing systems to offer advanced and accurate utility bill data collection and entry, utility bill auditing, and payment & energy data analysis.
You no longer need to stress out over missing bill payment due dates and having to pay late payment fees. ARDEM utility bill management boosts visibility and flags all potential errors to increase accuracy.
ARDEM provides Business Process Outsourcing and Business Process Automation Services to established companies to help them improve operational Efficiency and Reduce Costs. For more information please reach out to us at pricing@ardem.com or call us at 908-359-2600.
