Consumers lead busy lives and their time is becoming more limited and fragmented every day. In order to address this trend, organizations that cater to consumers have had to make significant changes in order to adapt to consumer lifestyle trends of the current era. This is certainly apparent when it comes to collecting payments for services rendered.
One example of an organization needing to adapt to this trend is Utilities. Utilities have been forced to introduce a variety of bill payment options in order to address the disparate needs of consumers and the diverse and expansive methods in which they prefer to pay their monthly bill.
Over the last several years, Utilities have evolved their bill payment options in order to address the demands of a diverse customer set.
Multiple Bill Paying Options at Utilities:
- Pay in person – either at their own brick and mortar location, or authorized partner location – such as a grocery store, mass merchandise retailer, or drug store
- Pay by Phone
- Direct credit card debit
- Online Payment on the utility’s web site
- Direct Bank Debit
- Online via the customer’s bank
- By mail
- By drop box
For consumers who elect to pay their bill in person, a measurable percentage elects to pay in cash. For the Utility, this factor is driving a need for a system to secure and account for cash deposits, which can reach high volumes, especially during peak times of the month when bills become due.
Tidel has addressed the cash management needs of Utilities, having placed numerous systems into authorized payment centers of many Utilities throughout the U.S. By leveraging Tidel systems, Utilities now have a secure and convenient way to manage their cash deposits and retain an audit trail for all transactions. By automating their cash transactions, Utilities have a proven way to enable their influx of cash to work in their favor, and they now have more time to focus on servicing their customers.
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Throughout our history, we’ve helped hundreds of clients become more efficient, secure, and profitable in how they manage their cash. Some of our clients have agreed to discuss their success with Tidel publicly. Please click on the case study here to read more about how these organizations have benefited from having Tidel systems in their business.
To learn more about the Tidel cash management solutions that have been deployed in the utility industry, select the following.
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