Teradata's Solution for Utility Companies
Data warehousing major, Teradata has unveiled Accelerate for Credit and Collections for Utilities. For most utilities, accounts receivables are typically the largest current assets on the balance sheet and a properly managed accounts receivable portfolio can expedite cash flow and increase working capital for the utility. This solution enables utility companies to manage credit risk with high-risk customers through analysis of payment history, propensity to pay and economic data.
Similar to its other Accelerate packages, Teradata Accelerate for Credit and Collections for Utilities can be implemented in under 120 days resulting in low implementation risk and fast return on investment. This is a bundled package that includes Teradata Database software, Teradata’s Purpose-Built Platform Family, application software and Teradata Utility Industry Professional Services. Product options include a choice of business intelligence tools and extract, transform and load tools from Teradata partners.
"The keys to minimizing credit risk lie in managing the remittance process and the credit and collections processes. By comparing payment history to the current period, utilities can discern bad debt risk from slow payers and apply corrective action accordingly. This requires having the right data, efficiently organized, and the ability to ask effective questions of that data - to conduct analysis," Teradata Corporation Senior Director Global Industry Solutions Bryan Truex, said. "One customer automated its credit risk analysis and now continuously monitors its high-risk commercial and industrial customers. That utility has seen a near 50 percent improvement in corporate collections."
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