Identify Lost Revenue with First Data Revenue Assurance
MIAMI, May 18, 2007 (www.AllPayNews.com) -- First Data Utilities announces First Data Revenue Assurance, a unique Web-based revenue assurance service that analyzes data from a utility's existing billing and metering systems to identify revenue recovery opportunities. First Data Utilities is accepting select utility companies for participation in an initial trial of the service. First Data Revenue Assurance will be presented at the First Data Utilities booth during the 2007 utility CIS Conference in Orlando, Fla., May 21-24.
Billing and metering errors and omissions are considered to be the main causes of lost utility revenue, yet most utilities lack the means to pinpoint discrepancies buried in their volumes of customer and meter data.
Karen Blackmore, program director of Energy Retail Strategies at Energy Insights, stated, "In recent years we have witnessed the emergence of new metering hardware and meter data management (MDM) software products that promise revenue assurance benefits through better tamper reduction and the availability of better quality metering data. These solutions can certainly return results, but they are unlikely to reveal billing-related revenue losses and so cannot offer a complete revenue assurance solution."
First Data Revenue Assurance addresses this issue and reveals both billing and meter related revenue recovery opportunities, providing the most comprehensive revenue assurance analysis service available in the industry.
Using First Data Revenue Assurance is a simple three-step process. Data is uploaded using a secure Web connection, advanced algorithms are applied to the data to identify and prioritize revenue recovery opportunities and the results are made available on a secure Web site. Because First Data Revenue Assurance is available as a Web-based service, utilities can begin effective revenue recovery activities as soon as their first sets of data are uploaded and processed. Lengthy system implementation is not required and the up-front cost is minimal.
"Already the results achieved for utilities by First Data Revenue Assurance indicate that there are millions of dollars to be saved by utilities using this technology," said Billy Love, Revenue Assurance product manager at First Data Utilities.
To participate in the First Data Revenue Assurance trial program visit the First Data Utilities booth at the CIS conference in Orlando, Fla., May 21-24, or contact Juli Collins at +1-770-350-9869 for more information.
About First Data Utilities
First Data Utilities develops top-rated utility billing software and provides outsourced utility billing and payment transaction services. The company offers a wide portfolio of outsourced services spanning the entire meter-to-cash transaction cycle, and is uniquely positioned to combine the best technologies and services -- including the top-rated Peace(R) Customer Information System (CIS) software -- in ways that achieve greater efficiency to drive down utility customer cost-to-serve. First Data Utilities is at the forefront of utility software development with its adoption of world-class Agile development techniques and Service Oriented Architecture. First Data has more than 300 utility clients ranging from entrepreneurial new entrant energy retailers to the largest dual-fuel utilities with millions of customers and multiple market operations.
About First Data Corporation
First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses worldwide. Serving over 5 million merchant locations, 1,900 card issuers and their customers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2 million ATM and retail locations. For more information, visit www.firstdata.com.
SOURCE: First Data Corp.