Juice Arrears Management
A/R reduction drives prepayment ROI
A key feature of Utiliflex’s Juice software is that it allows utility customers converting to prepayment to remain connected while paying off legacy arrears balances. Converting accounts receivable to cash drives ROI. In fact, of all smart-metering benefits, prepayment has the potential to have the largest impact on cashflow.
Allows the utility to avoid disconnections
Traditionally, the utility would disconnect the customer for non-payment. When cut off from an essential service, customers have a higher incentive for theft. By keeping the customer active, Juice gives customers a way to keep the lights on, while paying off debt.
Disconnecting a traditional customer can also be an expensive process. The utility has to roll a truck to disconnect service and commit administrative resources towards collections. While the utility may be able to charge service fees for these expenses, it's a lose-lose proposition in that the fees frequently don’t cover the true cost and the fees create additional hardship on the limited financial resources of the customer.
How Juice does it
With Juice prepayment, doubtful accounts turn into cash flow. When a customer signs up for prepay, the customer’s existing balance is transferred to Juice. Every time a customer makes a purchase, Juice will take a portion of the payment and apply it towards repayment of the arrears. Since customers are prepaying, future debt is being eliminated and cash flow is accelerated. This is a win-win for both the utility and the customer.
A key feature of Utiliflex’s Juice software is that it allows utility customers converting to prepayment to remain connected while paying off legacy arrears balances. Converting accounts receivable to cash drives ROI. In fact, of all smart-metering benefits, prepayment has the potential to have the largest impact on cashflow.
Allows the utility to avoid disconnections
Traditionally, the utility would disconnect the customer for non-payment. When cut off from an essential service, customers have a higher incentive for theft. By keeping the customer active, Juice gives customers a way to keep the lights on, while paying off debt.
Disconnecting a traditional customer can also be an expensive process. The utility has to roll a truck to disconnect service and commit administrative resources towards collections. While the utility may be able to charge service fees for these expenses, it's a lose-lose proposition in that the fees frequently don’t cover the true cost and the fees create additional hardship on the limited financial resources of the customer.
How Juice does it
With Juice prepayment, doubtful accounts turn into cash flow. When a customer signs up for prepay, the customer’s existing balance is transferred to Juice. Every time a customer makes a purchase, Juice will take a portion of the payment and apply it towards repayment of the arrears. Since customers are prepaying, future debt is being eliminated and cash flow is accelerated. This is a win-win for both the utility and the customer.