On site billing software and hardware can present a large capital investment for utility companies. Coupled with ongoing maintenance, upgrades and staff salaries, on premise billing can prove to be a necessary investment.
In an EY survey of utility firms in 2017, nearly half of the respondents said they would need either a major system upgrade or an outright replacement of their customer billing systems in the next five years to support business functionality and future requirements. For smaller utilities, this can be both an expensive and time-consuming exercise, not to mention opening the utility up to integration, data and data accuracy issues. Enabling small and medium utilities to transition from ‘on premise’ to the secure cloud easily represents a significant opportunity.