ENERGY

Capability overview for Energy

INTRODUCTION

ENERGY REQUIRES A DYNAMIC C&R APPROACH

There has been rapid transformation in the energy sector over recent years. Extremely competitive with increasing customer demands and lowering price expectations.

Historically being unable to choose its customers and deploying generic strategies, it has been transformed into a dynamic and hugely competitive marketplace, with price savvy customers repeatedly switching providers to take advantage of new customer offers and technology. Profitability has been squeezed all at a time when investment is required just to keep up. An efficient roadmap is required.

Ease of doing business

reduce the cost to serve

Tenancy and Supplier Change

Good customer journeys help with fair outcomes. A low friction process is essential in Collections as elsewhere to help manage arrears and control costs. This is being re-enforced by the regulators who continue to introduce best practices from other industries into the Energy market.

The market is responding with new services to fulfil these demands, including meeting the needs of vulnerable customers and social obligations. Great usage of data, leveraging automation, smart meters, and the ability to self-serve are all drivers for energy providers to become smarter, improve the customer experience as well as collections effectiveness.

QUALCO can help streamline your processes:

Customer Self-service via digital channels such as App and web-based portals

Specialised processes for a vulnerable customer and those requiring flexible payment arrangements

Guidance for next best action using data and decisioning

Automation to provide control and free resourcing for more complex cases

Digital platforms can be a key enabler, reducing the cost to serve and creating an enhanced data environment. Energy providers are deploying technology to use data, support new scorecards, decisioning rules, enhanced contact strategies and robust inventory controls - all with the aim of streamlining the customer journey, ensuring customers receive the best treatment at the right time. This needs to happen with complete performance visibility.

Credit Bureau reporting and data sharing play a large part in the energy lifecycle. Customer data including payment behaviour is influencing smarter decisioning and treatment strategies. The ability to influence appropriate energy packages for consumers based on risk allows providers to reduce the volume of consumers falling into arrears, focusing on those flagged with a high propensity to default (using pre-delinquency strategies and prompts) reducing the bad debt numbers and aiding retention.

Leverage your data with QUALCO:

Visual strategy design and champion challenger

Better classification of customer segments using advanced decision tree functionality

Build sophisticated collections strategies

Advanced decisioning and segmentation

Specific process challenges remain. The change of supplier/tenancy/occupier processes all add a degree of complexity and need to work well to prevent impacts to collections and recoveries results. Similarly, with field visits, legal and disconnection processes.

Robust process management, performance data and automated interfaces with external third parties help to ensure all accounts are processed in a timely manner, no account is left behind, and every opportunity is maximised.

QUALCO can help to manage and streamline specialist processes:

Specialist change of tenancy process that enables the ability to work by the address or the debtor

View everything in real-time with connections to third party vendors and systems

Unique features to support field agents in recording activity (e.g. images for full audit)

Utilise advanced models to understand the most appropriate portfolios and partners when executing debt sale

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OUR VALUE PROPOSITION

SOLUTION ECOSYSTEM

QUALCO’s technology ecosystem helps you leverage data to gain customer insights, understand account behaviours and flexibly drive effective collections strategies to stay in control. Use the latest tools and techniques to minimise losses, optimise cost whilst creating good customer journeys and outcomes.