Choosing the Right Utility Payment System for Your Business

Streamline utility expense management by automating payments.
Utility bill payment processing and management is one of the most time consuming and labor intensive tasks for many accounts payable departments. In addition, it’s often difficult to ensure accurate validation and reconciliation of payments.

As a result, outsourcing these services to specialized third parties is becoming common practice for organizations. These services include data collection and analytics, building maintenance, energy management, sustainability reporting, asset management and more. Outsourcing can help improve productivity and efficiency by enabling staff to focus on core business needs.

Choosing the right utility payment system for your business will depend on how you manage your utility expenses and the specific needs of your customers. For example, some companies may prefer to use a credit card for utility bills so that they can earn rewards on their spending and track their budgets. Others may want to make payments in person through a utility company’s payment center or an authorized agent. In these cases, the payments may take up to five days to be reflected in consumers’ account.

For most buyers, the best utility billing system is one that offers a range of self-service options and convenience for consumers. It should also provide a high level of security to protect customer data. For example, most cloud-based systems offer daily encrypted data backups to prevent data breaches. Some even offer PCI DSS compliance, so that the platform meets minimum security standards set by financial institutions. utility payment system

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