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.
As they undertake energy efficiency initiatives and comply with Renewable Portfolio Standards, utilities are increasingly rolling out innovative rates to incentivize customer behavior change. Sophisticated programs such as Community Solar and On-Bill Financing, and some low-income programs, involve multi-party transactions. And rates for the commercial and industrial customers have traditionally been complex. The traditional CIS is inadequate in supporting these complex rates (e.g., TOU rates, C&I rates, etc.), and is certainly not designed to enable settlement across multiple transaction parties. Utilities often have to augment the CIS with a set of manual or semi-automatic billing processes, which are inefficient and error prone.
BOS Cloud supports rates and contracts of any complexity out-of-the-box, and can be implemented quickly, at a fraction of the cost to manual or semi-automatic processes. Delivered from the cloud and integrated with the traditional CIS, BOS Cloud’s complex billing and settlement capabilities are the ideal solution for digital utilities.
The cloud-based GridX Billing System enables utilities to upgrade, supplement or replace their legacy CIS to support complex rates and new business models.
Utility Customer organizations are being asked to substantially improve engagement and the customer experience. To do that, they need to offer more than a cash register.