Utility payments are recurring payments that require an automated process to make them faster and more efficient. This is why a utility payment solution that includes online billing and payments for utilities is so critical to the success of your business.
Providing customers with a simple, convenient and seamless billing experience is key to retaining their loyalty. The best way to do this is with a robust multichannel electronic bill presentment and payment (EBPP) platform that is designed with efficiency in mind.
A centralized utility payments system is crucial to reducing costs and accelerating the collection of customer payments. A streamlined process will reduce administrative expenses, improve cash flow and help to keep your customers happy.
Adaptable utility payment solutions are the difference between a seamless billing experience and an overly complicated one. They can help you collect payments, easily manage accounts and intuitively manage information in a fully secure environment.
In order to configure a product for utility payments, you need to specify the following details in the ‘UP Product Definition’ screen. This will create a new product that can be used for utility payments in favor of a particular utility provider. You can also define the accounting rates, charges and MIS details that would be applicable for any transaction that involves this product. You can access this screen from the main screen by typing UP Product Definition or clicking the ‘UP Product Definition’ icon on the tool bar. utility payment solution