Utility 

Utility Remittance Processing

The pressures are mounting.

With new payment channels, slow processing times, and increased regulatory scrutiny, utilities must find new approaches to receivables -- now.

We process more than 200 million utilities transactions annually ...

... for nearly 50 utilities throughout the United States. As the leading provider for enterprise payment processing solutions, WAUSAU Financial Systems holds the #1 market share position in retail and wholesale remittance processing solutions — with more than $1 trillion in transactions each year. Over 30% of all annual transactions are processed on a WAUSAU solution. And because we can insource, outsource, or co-source our solutions, utilities' new and classic challenges can be met easily and flexibly.

 
YOUR CHALLENGES, YOUR OPPORTUNITIES

New challenges in the utilities industry are pushing costs up and revenues down. We know how to surmount the obstacles.

  • New payment channels. With checks and cash, mail and walk-in, online and phone and more, utilities' #1 criterion for a payment system is servicing all of them.

  • Bad debt and late payments. The economic crunch is making late payments and bad debts endemic. Speeding and centralizing clearing and posting is becoming ever more critical.
  • Aging, inflexible IT. 33% of utilities don't consolidate payments in a single system. Without seamless integration, inefficiency reigns.
  • Slow cash flow. 10% of payments take three days or more to process. Getting 100% of payments processed in 24 hours would grow daily investable cash dramatically.

 
OUR BENEFITS 

Solving utilities' challenges takes flexible, integrated solutions. 

  • Accept all payment channels. ACH, checks, mail, mobile, Web, and more — our solutions allow you to accept them all on a single hub.
  • Improve collections. Seamless, fast electronic billing, collecting and processing improves customer service, saves 50-90% over paper bills, reduces late payments and settles bad debts.
  • Integrate payments. Our solution integrates your systems and ends redundancies, for lower unit costs — with the option of outsourcing. 
  • Deposit fast. 100% of payments processed in hours, not days. That's a dramatic swelling of your daily investable cash.