Tucson (PRWEB) June 26, 2006
Bottom Line Impact (BLI), a leading write-off recovery solutions provider for the utility industry, announced today that Vectren Corporation (NYSE: VVC) is using Bottom Line Impact’s Automated Revenue Miner (ARM) to lower write-offs and speed final bill collections, helping keep costs low to ensure competitive rates for its customers. BLI’s ARM, with its proprietary, industry-leading matching algorithms, finds customers owing money that are hidden in the utilities active customer base, allowing the utility to transfer balances from inactive owing accounts to active accounts.
“It is very important that we maintain a consistent level of service for our customer base and part of that service includes keeping utility rates low for our customers,” said Mike Burnor, Supervisor, Credit & Risk for Vectren. “Reducing write-off drives down our cost which in turn helps to stabilize prices.”
Vectren initially partnered with Bottom Line Impact in a pilot project, BLI’s No-Cost Initial ROI Assessment, and realized an immediate write-off reduction. Of the results delivered to Vectren in the Assessment, 100 percent were confirmed, transferable matches. According to Burnor, Vectren initially discussed deploying their own internal solution, but were concerned about limited resources and IT constraints. Once they participated in BLI’s Initial ROI Assessment and realized the immediate results, implementing BLI’s solution in their day-to-day procedures was a logical next step.
“We offer all partners the opportunity to participate in our No-Cost Initial ROI Assessment which allows them to sample the results the ARM generates,” said Patrick Carberry, President, Bottom Line Impact. “This provides the proof that the ARM delivers results as advertised and essentially builds the business case needed to move forward into a long-term partnership.”
Many other utilities are recognizing the benefits of using an outside vendor such as Bottom Line Impact to immediately lower write-offs and speed final bill collections rather than relying on the time consuming process of using in-house resources. Bottom Line Impact partners include: Alliant Energy, Arizona Public Service, City of Orangeburg, SC, Department of Public Utilities, Dayton Power & Light, First Choice Power, Great Lakes Energy, Orange & Rockland Utilities and South Jersey Gas.
“We offer our partners a true no-cost, no-risk proposition,” said Patrick Carberry, President, Bottom Line Impact. “In addition to meeting a unique need, we offer a value-based solution meaning Bottom Line Impact customers only pay for the value we deliver.”
Vectren Corporation (NYSE: VVC) is an energy holding company headquartered in Evansville, Ind. Vectren's energy delivery subsidiaries provide gas and/or electricity to more than one million customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren's nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the Midwest and Southeast. These include gas marketing and related services; coal production and sales; and energy infrastructure services. To learn more about Vectren, visit http://www.vectren.com.
About Bottom Line Impact
Tucson-based Bottom Line Impact, with additional offices in California and Colorado, is a leading provider of write-off recovery solutions that enable utilities to discover hidden revenue within their active customer base. Bottom Line Impact’s Automated Revenue Miner is a CIS independent tool that uses sophisticated matching algorithms and data mining techniques to find customers owing money that are ‘hiding’ within utilities active customer base. Once identified, this money can be transferred from ‘owing’ accounts to ‘active’ accounts, drastically reducing write-off expense. For more information, visit http://www.bottomlineimpact.com.