How Utilities Can Decrease Their Accounts Receivable
Update: 2024-06-14
Description
Utility companies, like many businesses, were impacted by the COVID-19 pandemic. With people struggling to pay their bills, that left utilities with growing accounts receivables. Karen Jonas, Senior Vice President of Business Development at IC System, and Eric Port, Recovery Manager at DebtNext, provided some insights on the matter and some welcome news for utilities struggling with mounting AR balances.
“What we see is a lot more utilities are starting to regain focus on their write-off collections again,” Port said. With the pandemic beginning to subside, there is a renewed effort on recoveries and a shift in the type of recoveries utilizing digital methods, such as email and text.
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