E-billing delivers bottom line results
Cary M. Serif, Metavante Corp.
In today’s challenging business environment, it is essential for companies to control costs in order to remain competitive. Both Alagasco, the largest natural gas utility in Alabama, and Santee Cooper, South Carolina’s state-owned electric and water utility, seized the opportunity to reduce expenses and enhance customer service options by implementing an electronic presentment and payment (EPP) service.
Alagasco has realized a net savings of over $0.48 for every bill issued and paid online. The company reached its break-even point in less than one year. The company established a goal of 1 percent adoption by the close of the first year of service availability. It exceeded its target and achieved a 1.5 percent adoption rate.
Santee Cooper introduced e billing to its customers in October 2001. The utility will realize a net savings of $0.25 for every bill issued and paid online, once it reaches its five-year goal. Santee Cooper established and met its one percent adoption goal within its first year of service availability.
Books of the month
EL&P’s editors recommend books for further reading about selected topics in this month’s issue.