How Data Can Ease the COVID Billpay Crisis for Utilities & Their Customers
- May 22, 2020 7:21 pm GMT
This item is part of the Special Issue - 2020-05 - Customer Care, click here for more
Utility companies face an unprecedented economic situation with COVID-19. Record numbers of jobless customers won’t be able pay their monthly bills, which means utilities need to get proactive. Luckily, putting an effective plan in place is easier than you might think.
As the economic effects of COVID-19 continue to unfold, more customers than ever find themselves suddenly vulnerable to missing payments, accruing late fees, carrying high balances and, potentially, having their service terminated. Fortunately, these kinds of penalties are on hold while the pandemic remains at high threat.
But for utility companies--subject to regulation, struggling despite their size and capacity--every penny counts when it comes to recouping lost revenue. Making up for all that money at some later date may sound like an expensive, perhaps even impossible, mission.
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