Customer Success Story
Unlocking Revenue Potential For A Major Utility Company
The Challenge
The Major Utility Company (referred to as MUC) had been grappling with a recurring issue: an underutilized revenue stream stemming from vacant properties. Traditional approaches to identifying and billing these properties were inefficient, leading to lost income opportunities. Additionally, there was a need to identify properties that were occupied but had gone under the radar, remaining uncharged.
The Solution
Recognizing the potential for unlocking significant revenue, TSI embarked on a comprehensive plan of action:
- Data Analysis and Identification: TSI’s team meticulously analyzed MUC’s data to pinpoint properties that were incorrectly categorized as vacant. Through a combination of advanced data analytics and field research, they were able to identify a large portion of these properties that were, in fact, occupied.
- Recruitment and Training: To execute their strategy effectively, TSI recruited and trained a team of 18 field agents and 10 billing agents. These individuals were equipped with the necessary skills and tools to identify genuine vacant properties and establish occupancy status.
- Occupancy Verification: Field agents visited properties flagged as vacant to ascertain their actual occupancy status. This involved interviewing residents, checking utility usage, and cross-referencing data to ensure accuracy.
- Billing Process: For properties found to be occupied but uncharged, TSI swiftly initiated the billing process. This included tracing the customers associated with the property, setting up their utility accounts, and issuing the first invoice.
The Results
The proactive approach taken by TSI yielded remarkable results for the Major Utility Company:
- Identification of Occupied Properties: TSI successfully identified a significant number of properties that were wrongly categorized as vacant. This discovery proved invaluable in tapping into previously untapped revenue streams.
- Additional Billing Revenue: By bringing into charge these previously overlooked occupied properties, TSI generated an impressive $7.5 million in additional billing revenue for the Major Utility Company. This influx of income had an immediate positive impact on the company’s financial performance.
- Efficient Billing Process: TSI’s comprehensive approach not only brought in additional revenue but also streamlined the billing process. Occupied properties were now accounted for promptly, reducing billing discrepancies and improving customer satisfaction.
In conclusion, TSI’s partnership with the Major Utility Company exemplifies the power of data-driven strategies and proactive actions in unlocking revenue potential. By accurately identifying occupied properties and efficiently billing them, TSI not only met the challenge presented by MUC but exceeded expectations, contributing significantly to the company’s financial success in the final months of the fiscal year. This case study underscores the importance of innovation and precision in maximizing income opportunities for utility companies.
Conclusion
Our partnership with this major utility company has been characterized by strong collaboration and a commitment to delivering value. We understand the importance of the client’s mission, which extends beyond their bottom line to the public trust and the communities they serve. TSI remains dedicated to optimizing financial results while safeguarding the client’s brand and reputation. Through open communication, insightful business intelligence, and a collaborative approach, we have supported the client through internal management changes and remained a strategic, relevant partner. Together, we continue to navigate challenges and drive success in the ever-evolving landscape of the utility industry.
Customer Experience/Care Management
Inbound & Outbound Voice
CX & Care Programs
Back-Office Functions
Performance Analytics
Flexible Global Staffing
Business Process Outsourcing
Data Input
Document Processing
Verfication & Validation
Exception Processing
QA Monitoring & Reporting
Business Analytics & Modeling
First Party ARM
1st Party Collections
Pre-Charge Off Program Support
Inbound & Outbound
Early Stage / Care Based
Brand Protection
IT Adaptability / Flexibility
third Party Debt Collection
Post Charge-Off
Primary & Secondary
Late-Stage Recovery
Innovative Technology & Approach
Propensity to Pay Analytics
