Five Common Challenges of Accounts Receivable Management This free whitepaper outlines:
With the proliferation of data-enabling technologies, customers are demanding more sophisticated methods of engaging with utilities to fulfill their service needs. kurteus™ helps utilities provide their customers with the information they need, in the right context, with the required tools to ensure an enjoyable and productive self-service experience. The self-service functionality is fully-integrated with the Talkonimics™ Process, allowing utilities to proactively identify and fulfill individual customer service needs. This is inherently different than most self-service models, where it is incumbent upon the customer to seek-out services on their own when a need arises. Each customer interaction is based on a four-point feedback loop. This feedback loop provides a customer experience that makes self-service simple and accessible. Action-inspiring information is provided in the right context along with the tools that allow the customer to take action in that moment. The customer experience remains constant across all channels, regardless of whether the customer initiates the conversation, or the utility does. Information It is impossible to deliver an effective customer experience if you can't provide the information needed to take action. Upon every interaction, kurteus™ dynamically generates a message containing customized information for ...
kurteus™ is designed to provide business practitioners with simple yet powerful tools that deliver the three core elements required to improve business performance: insights, action and measurement. Insight Without insights, it’s virtually impossible to improve business performance. For business users, accessing timely and relevant data with which to glean insights is often a difficult and frustrating process. With this in mind, we developed an insight-generating dashboard that provides a simple-to-use yet extremely flexible interface. Real-time financial information, process information and operational information is readily accessible in many perspectives. The dashboard allows users to peer at their business from a high level, drilling down in any area to quickly identify process bottlenecks and inefficiencies, view the cost of operations versus financial yields and identify performance opportunities. It’s easy to gain context by manipulating the information from a myriad of segmentation and comparative perspectives. With the click of a mouse, the data can be segmented by market, by geography, by risk classes, by process parameters and by virtually any special customer status you store within your systems of record. This makes it easy to identify work drivers, understand the effects of ...
kurteus™ delivers three measurable business outcomes in the areas of Financial Debt, Cost-to-Serve and Customer Satisfaction. Financial Debt The Talkonomics™ Process is designed specifically to reduce the average debt carried forward by utility customers. Through targeted, proactive treatment, kurteus™ increases cash flow in the active and inactive portfolios while reducing gross charge-offs. The agency management toolset ensures third party collection agencies maximize recoveries, reducing net charge-offs. Cost-to-Serve The Talkonomics™ Process enables utilities to significantly reduce the overall cost-to-serve each customer while interacting with a wider range of the portfolio at more regular intervals. This is achieved through a combination of smart, account-level business process decisioning, inline functional optimization and customer participation. By providing customers with the right information in the right context and the self-management tools required to take action, utilities avoid costly treatments in the form of CSR interactions, field interactions and notices. The inline functional optimization ensures that costly resources are used efficiently on the customers that pose the most significant risk. Customer Satisfaction The Talkonomics™ Process encourages customers to participate in managing their own ...
Kurteus Risk Score provides a solution to identify risky accounts sooner, supporting proactive treatment to mitigate charge-off risk. Our methodology creates account-level risk segmentation scores that are actionable in your business process and analytics. The Kurteus Risk Score measures each account's level of responsiveness to treatment activities. It also uses account financial standing, historical behaviors, ability to contact account holder, and many other risk indicators specific to your customer base. For Risk Scores to be most effective in delivering improved financial results, they need to be integrated into your business processes, which is why the Kurteus Risk Score is seamlessly merged into Risk Response Treatment Decisioning. Features: Outcomes:
The definition of good customer care is changing. In the past, good customer care was about ensuring CSRs were available in call center queues, ensuring they were courteous on the call and ensuring they quickly fulfilled the customer's needs. Today, good customer care is about anticipating individual customer needs, giving them the information and tools needed to service themselves on their own time, not between the hours of 9 and 5. Today, good customer care is about self-management. Kurteus has a suite of customer self-management applications that enable utilities to easily engage their customers, delivering best-in-class care at a lower cost than traditional service methods. Furthermore, the self-management applications are integrated with the Talkonomics Process, offered via voice (inbound and outbound) and web channels. They're easily configured and deployed in treatment processes to ensure customer risk is well-managed. The Risk Response Treatment engine assesses customers in real time and offers the most pertinent applications based on likely needs. Here's some of our self-management applications: Budget Billing Enrollment Customers can easily enroll in budget billing programs. Contact Preferences Customers can set their preferred channel and preferred language for future communications. Dispute Engagement Customers can register a dispute without contacting the call center. Register New Phone Number Customers can change current telephone contact ...
Kurteus enables the delivery of consistent two-way messaging and services through multiple channels. It's called Unified Communications. Delivering improved customer care while minimizing the cost to serve requires automated communication tools that create a conversation with customers. The Unified Communications technology delivers specific messages based on unique account attributes regardless of channel. The closed-loop system was designed specifically to enable you to have more communication with your customers without driving work into the organization. Customer self-serve functionality can be added through our suite of applications offered via web and voice channels. This allows your customers to self-manage every time you reach out to them and every time they reach out to you. Features: Outcomes:
Classifying Time Zero Intelligence as 'reporting' would be an injustice. Unlike a canned report, the Time Zero Intelligence dashboard lets you look at your data now, at 'time zero'. That way, you're always seeing the most recent view to ensure well-informed decisions. Best of all, Time Zero Intelligence integrates your business intelligence (BI) and customer intelligence (CI) into a single, cohesive view. This lets you compare financial data to operational data, compare performance of ultra-granular segments against one-another and see what treatment steps are driving payments. It's easy to look at your business from a financial perspective and an operational perspective, drilling from high-level views right down to individual accounts. Additional tools allow users to look at every aspect of their business through segmented views of process, programs and markets. Features: Outcomes:
Charge Off Management
Agency Management Use kurteus’ agency management interface to monitor agency performance across multiple markets. Easily add or delete agencies, change allocations, manage fee structures and benchmark agencies against one another.
Active Management
Effective charge off mitigation and operational cost containment starts with proactivity in the Active portfolio. Account Initiation Use kurteus to identify and manage customers attempting to open new accounts while they still hold another account with a balance. Active Process Management Use kurteus to manage your active portfolio. Apply the Talkonomics™ Process to proactively treat accounts and identify risk early, ensuring balances remain manageable. Get real time financial, process and service reporting with Time Zero Business Intelligence. Field Disconnect Management Use kurteus to manage field disconnects and reconnects, ensuring they don’t become a bottleneck that contribute to debt. The Talkonomics™ Process optimizes the field by identifying and assigning the most non-responsive, risky accounts. The field management interface allows field administrators to sync resource capabilities to work volumes, stay in contact with field agents and assign work based on geography for maximum efficiency.
