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All energy & utilities companies - whether part of the electricity or the oil & gas industries, or whether wholesale or consumer focused - must manage the complexities of continuously meeting delivery expectations. Customer service is central to the business and includes not only such administrative aspects as customer account, pricing, credit, and accounts receivables (AR) management, but also production and delivery aspects such as demand forecasting and planning with regard to future technologies.
Meeting customer expectations begins with customer service. By outsourcing supporting functions such as data maintenance, consolidated billing, AR ageing, and collections, companies are able to efficiently manage high-volume administrative processes, thereby allowing their own employees to focus on service delivery.
Outsourcing, however, also has proven beneficial in support of actual service delivery. OPI’s Analytics services provide companies with efficient, high-end analysis that can be used to monitor utility performance, asset efficiency, and maintenance trends. Or, OPI Analytics can further be leveraged for planning purposes including pricing, demand pattern modeling around such scenarios as weather, public events, and green technologies, or to evaluate return on investment (ROI) for proposed projects.
OPI’s services also have been tailored to improve relations with downstream and upstream suppliers and providers. By monitoring contracts, ensuring compliance with agreement terms, and properly accounting for rights and interest payments, companies are able to impact efficiency even within their own production.
In addition to the full suite of finance & accounting and analytics services, some of OPI’s Energy & Utilities focused solutions include:
- Order to Cash Management - high volume billing, consolidated billing, cash applications, reconciliations, exception resolution, AR age reporting, and collections - resulting in timely revenue recognition and improved cash flow.
- Credit Risk Management - customer and counterparty credit analytics - proactively controls credit exposure, minimizes risk of bad debt, and rightsizes reserves.
- Customer Account Management - customer data maintenance including new account set-up, transfers / address changes, credit management, and usage analysis - delivers efficient customer account management and high-quality customer service.
- Fixed Assets - fixed asset valuation, depreciation, maintenance accounting, reinvestment - efficiently manages asset accounting.
- Rights and Interest Accounting - rights / lease contract compliance, expense allocation, payments, production analysis - provides efficient, streamlined accounting for joint-interest, exploration, and production accounting.
- Forecasting - customer data maintenance including new account set-up, transfers / address changes, credit management, and usage analysis - allows for efficient, accurate forecasting for planning and production.
- Support “Ratemaking” Process - pricing analytics, cross-subsidization modeling, and documentation requirements - delivers support for the ratemaking process including compliance requirements.
- Analytics - utility performance, asset efficiency, maintenance trends, proposed infrastructure ROI - provides increased transparency into performance as well as data for strategic decision-making.
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