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Billing for Water companies

Billing is one of the core business processes of a water company. Minor inaccuracies and errors in the preparation and issuing of invoices can seriously disturb your cash balance and/or eat into your working capital. Luckily, the billing module in UMAX has been conveniently tailored to meet all the requirements of suppliers in the utility sector.

Forecasting

As a water company, you have to use different billing methods for your B2B and B2C customers. Some require you to submit monthly invoices, others prefer fortnightly or weekly bills. Still, UMAX lets you make a forecast at any given moment of the total sum of invoices for a certain period. This subsequently enables you to determine your cash flow and working capital.

Simulation

UMAX includes a function for simulating a planned billing run with a view to limiting errors, workload and subsequently costs. While simulations have no impact on current operations, they quickly detect possible exceptions and rectify the situation. Hence they ensure more accurate billing, reduce inbound call volumes, lighten front and back office workload and decrease the need for cash flow.

Invoicing

The actual core of the billing process is invoicing. Invoicing may take many forms. It may be done monthly or quarterly, when moving house or upon completion or termination of the contract. It may take the form of yearly consumption invoices, end of supply bills or prepayment statements. The UMAX invoicing module provides for all of these situations. It supports batch processing and allows the (manual) prioritisation of one type of invoice over others. And because UMAX can accommodate varying tariffs, structures and payment options, it makes invoicing multisite B2B clients a breeze.

Posting

Invoices need to be entered into the accounts system which, ideally, should also be part of UMAX. However, if your company has implemented an accounting package from a different software house, UMAX can still provide an elegant and economical solution for your client processes.

Other UMAX processes for Water Companies