Streamlining Bill Payments and Collections with Energy Billing Systems

For utilities and property managers, efficiently managing resident and tenant billing can be a major challenge. Manual processes for sending bills, accepting payments, and tracking accounts often prove labor intensive, slow, and error prone. However, modern energy billing systems automate these critical functions to save time and money while improving accuracy. This article explores key capabilities of advanced billing systems and how they create value for users.

The High Costs of Manual Billing Processes

Traditionally billing and collections have involved manual steps like

• Printing and stuffing paper bills to mail to customers
• Accepting check or money order payments via postal mail
• Manually entering payment data into accounting systems
• Sending paper reminders for late payments
• Responding to customer questions and disputes over the phone

Such manual processes lead to:

• High postage, paper, and labor costs to run billing operations
• Increased potential for human error entering or posting payments
• Delayed payments and poor cash flow due to reliance on mailed checks
• Poor visibility into customer accounts and past due amounts
• Frustrated customers from lack of self-service options and long call waits

The Benefits of Automated Energy Billing Systems

Modern solutions like Energy Billing Systems overcome these challenges through automation such as

• Electronic billing to instantly send customized invoices via email
• Online tenant and resident portals for account management
• Digital payment processing via credit card, debit, ACH and more
• Automatic payment reminders and collections workflows
• Secure accounting integrations to sync payment data
• Detailed reporting on receivables, cash flow, tenant debt, and revenue

Key benefits of these automated capabilities include:

• Cost savings – Reduced postage, paper, printing and labor expenses
• Faster payments – Online payments received instantly vs. waiting for checks
• Improved efficiency – Less time spent on manual processes and data entry
• Enhanced visibility – Real-time reporting provides account oversight
• Reduced errors – Automation minimizes human error risk
• Better cash flow – Faster payment collection improves cash flow
• Improved customer service – Online portals and chatbots enable 24/7 self-service

Key Features of Advanced Billing Systems

Billing platforms like Energy Billing Systems offer a robust set of capabilities that drive efficiencies and cost savings:

Online Payments – Residents and tenants can securely pay bills via credit card, debit, ACH or eCheck using online member portals.

Auto Payment – Customers can opt for automated recurring payments from bank account or credit card.

Payment Reminders – The system can automatically email and text reminders on past due balances.

Collections – Automated late fee assessment, payment plans, account holds and dispute workflows.

Accounting Integrations – Billing data syncs in real-time with major property management software programs.

Consolidated Billing – One bill for all utilities like electric, gas, water, cable TV and internet services.

Submetering – Measure and bill individual utility usage for multi-tenant properties.

Analytics – Custom reports provide visibility into collections, receivables, revenue and tenant debt.

Invoice Customization – Tailor bill formats, messaging, logos and data for your brand.

Multi-lingual – Available in English, Spanish and custom languages to suit your customers.

Mobile Apps – Provide tenants and residents on-the-go bill pay and account access via iOS and Android apps.

Assessing Energy Billing System Solutions

Those looking to invest in an automated billing system should evaluate options based on:

• Pricing – Lower cost solutions have basic billing features while full platforms enable end-to-end automation but cost more.

• Scalability – Ensure the solution can handle customer growth over time and increased transaction loads.

• Hosting options – Some vendors provide cloud-based solutions for easier onboarding while others require local servers.

• Support – Look for vendors with robust customer support resources like training, documentation, chat and phone assistance.

• Vendor experience – Seek established vendors with experience serving major utilities and property management firms.

• Compliance – Verify system meets standards like SOC2 and provides needed security controls.

• Reviews – Check third-party review sites for genuine user feedback on the vendor.

Energy Billing Systems Deliver Automation and Savings