Are your systems as renewable as your energy?
Admittedly, the term “fossil finance and sales processes” is by no means common. When I speak to companies from the energy sector, I often find that they are critically rethinking and reorganizing their existing IT systems and associated company processes since they consider them to be outdated and “fossilized”.
Sooner or later, companies in any sector are confronted with the problem of systems and processes that are no longer fit for the times. Over a certain period of time, established systems can be extended and adjusted to take into account new market conditions.
But eventually the time comes for a complete reset.
This could be the switch to a cloud solution, for example. This enables energy companies to benefit from software-as-a-service or process outsourcing. When new challenges arise or conditions change, extra services can simply be added and individually configured. In this respect, you could almost call this a “renewable” system which at least offers the extremely high flexibility required in the dynamic energy sector.
New power in receivables management
At Arvato Financial Solutions, we became aware of powercloud some time ago. The tailored cloud solution for the energy sector works much like an app store, where powercloud pays strict attention to the quality of services offered. We found this concept compelling straight away, but we also discovered a few gaps in the offering. Here, the areas of receivables management/debt collection and needs-based support in debtor management (BPO on demand) were not yet covered. And this was the case although the energy sector is one of the industries that face huge challenges with outstanding receivables.
Cooperation between Arvato Financial Solutions and powercloud was quickly established. After all, it ultimately results in a win-win situation. powercloud was able to close gaps in the existing offering with our expertise as well as our services in receivables management, thereby expanding its value creation chain. At Arvato Financial Solutions, we can provide energy utility companies of different sizes our services in a simple and consistent manner. All transactions are securely executed in real time via a standardized and automated interface. With this combination of different services, energy providers benefit from more flexibility when serving customers. This not only frees up internal resources, the credible and customer-oriented receivables management also minimizes bad debt losses and increases liquidity. And thanks to the user-friendly performance and process monitoring tool Collin, companies always have an overview of all current receivables data and the success of measures taken.