Energy

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.

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.