With the BOS Cloud suite of services, our clients are able to innovate rates, products and business models quickly; upgrade their Meter-to-Cash process cost effectively; transition customer relationships from the traditionally transactional to that of trusted energy advisors; and ultimately transform their business.
With continued growth in Smart Grid and Smart Meter deployments, utilities are releasing more new products and programs, but traditional Utility Customer Information Systems lack support for these complex rates.
The business and policy goals of new rates can only be achieved if there is a high rate of customer adoption. Customer engagement is the key.
New utility programs are often delivered with complex business models involving utilities, customers and other third parties. A traditional CIS does not support such programs as consolidated billing for Community Solar and On-Bill Financing.
Utilities planning large scale TOU rate transitions face unique challenges in how to maximize customers’ adoption of these new rates with a limited marketing budget.
Traditionally utilities have developed rates by leveraging energy consumption data from a fraction of sample customers, known as the sampling approach. This rate design approach often introduces significant sampling error. As rates become more complex, the sampling error increases.
With TOU Transitions, every aspect of the rate product life-cycle, including rate design, rate marketing, billing and customer engagement requires a revenue grade billing and analytics engine.
Traditionally, unbilled revenue is estimated using empirical financial models and manual processes. These outdated approaches are highly inaccurate and cumbersome. Inaccurate unbilled revenue estimates lead to significant financial planning and reporting challenges for utilities.