Simplifying Complex Payables
Complex payables are any type of payable that requires domain expertise, specialized tools and processes to manage effectively. Utility invoices qualify as a complex payable due to their high content value and requirements for specialized processing.
High content value – the data harvested from the utility bill payment process has high business value when it can be converted to actionable business intelligence. Cass collects, normalizes and organizes data from utility invoices to produce for each client an energy data warehouse that allows tracking and reporting of usage patterns, including carbon emissions, as well as other information useful in controlling energy expenses.
Requirements for specialized process – Complex payables typically require specialized processes to manage. As an example, most trade payable vendors will typically call to inquire about overdue payments. Not a utility vendor. They rely on late fees and shut-offs to enforce on-time payment. Specialty processes must be in place to process received bills in a very tight time window, and generate alerts for missing bills to prevent shut offs and/or late fees.
Cass Delivers Expert Utility Bill Payment
Cass has honed unique processes to combat the threat of utility service shut off due to missing invoices. Cass’ predictive invoice tracking system alerts Cass about expected utility invoices that are late in arriving at Cass. This allows Cass to proactively contact the utility about the missing invoice.
Cass employs trained data capture professionals, and then augments the training with scores of quality control algorithms to ensure data integrity. In addition, a dedicated QC team will further reviews bills that fail downstream edits. The result? Data accuracy you can rely on, second to none in the industry.
Find out more . . .
Learn more about outsourcing your utility bill payment to Cass. Contact the Cass Utility Group today.