WAUSAU Financial Systems

PSE&G needed a new receivables solution. WAUSAU had the answer. See how they gain $8.4 million more daily investible cash and process 50% of payments with one FTE.

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Utilities today face mounting pressures and challenges in processing customer payments. Payment methods keep proliferating — traditional check-writing is not going away, yet digital and electronic methods, from kiosk to mobile, drive customer expectations of convenience and choice. Paper processing costs are growing by leaps and bounds. Tight capital markets make every dollar of IT spend precious. Meanwhile, regulatory and customer pressures for securing data have never been greater. The speed of regulatory, compliance, technology and competitive change makes it critical that organizations be fully prepared for the future. To meet these challenges — and capitalize on these opportunities — utilities need:

improved operational efficiency
streamlined customer-service enhancements
solid IT/enterprise integration
treasury position improvements

WAUSAU has reinvented the utilities receivables process specifically to achieve these goals.

WAUSAU Financial Systems' solution processes more than 200 million annual transactions for nearly fifty utilities throughout the United States. We hold the #1 market share position in retail and wholesale remittance processing solutions; process more than 1 trillion dollars in transactions each year; and over 30% of all annual transactions are processed on a WFS solution today. We're ranked as one of the top 100 financial technology solution providers on the FinTech 100 list. That leadership position enables us to invest constantly in new technology — so we've demonstrated a long and successful commitment to providing the most effective solutions in the payments market.

We have the only complete, integrated process for utilities capture, clearing, archive and workflow. The solution's total benefit is greater than the sum of its parts. On a single platform, wherever payments are received, we combine decisioning, delivery, reporting, research and enterprise archiving. Deploy our components strategically, one by one — or all at once — wherever you want them, across the process. You can easily:

reduce time to process remote payments
speed posting and clearing
eliminate courier runs
reduce mail/desk float
achieve significant gains in daily investible cash
improve customer service

At a time when IT investment has never been more important — and proven return on investment has never been more critical — we offer a solution that achieves transforming benefits, with ROI that can be realized in 18 months or less. We provided that result for one of the biggest utilities in the nation (delivering service to 3.9 million residential and commercial customers with peaks of up to 100,000 payments per day). Replacing a legacy system, centralizing and distributing capture, offering flexibility in payment methods, implementing electronic clearing, improving security and processing 100% of payments within 24 hours-our client realized all of that, with a 12-month ROI!

When utilities consider capital management and the need for IT spend, the idea of outsourcing naturally comes up. And for some utilities, outsourcing will make good business sense. For many others, keeping payments in-house will be the right choice — as long as they keep operations costs down on simple transactions. (Leveraging an existing workflow, familiar to processing personnel, can pay off.) That's why WAUSAU enables the widest degree of flexibility when it comes to making this all-important strategic decision. Keep your receivables process in-house, outsource it completely or create the blend that's right for your company. We'll help you arrive at the right decision.