Enterprise Rating Engines can be a Strategic Asset for Electric Utilities
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- Mar 9, 2020 9:19 pm GMTMar 9, 2020 6:32 pm GMT
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Most Utilities have a rating engine within their Customer Information System (CIS) for accurately calculating each customer’s bill based on their monthly electricity usage. The rating engine, sometimes also referred to as a billing engine, is tightly integrated within the CIS and calculates the monthly bill within the meter to cash cycle. As the utilities industry experiences massive change, the applications for a rating engine to support processes outside the CIS and outside the meter to cash process are proliferating. Here are some examples.
Improving customer engagement has been a huge focus for utilities in recent years. Utilities have implemented customer contact preference technologies providing customers the ability to sign up for outage and billing alerts. Several utilities offer mobile apps for viewing & paying bills as well as displaying usage information. And many utilities are offering new pricing programs including time-of-use, community solar, and renewable-only electricity plans.