With debt collections being a continuum of evolution, utility collection professionals need to learn about the latest collection tools and strategies to maximize their collection efforts. The Utilities Credit and Collections Symposium invites utility company vice presidents, directors, managers, supervisors, analysts and other industry professionals to attend their event. The Utility Credit and Collection Symposium 2020 is an educational event that takes place March 2 – 4 at the Hyatt Regency hotel in Coral Gables, Fla.
The conference features several speakers who are well-versed in the world of utility collections. They will provide key knowledge for the collection industry. The symposium also offers a multitude of opportunities to network with other collection professionals over food and refreshments.
Be sure to catch Optio Solutions representatives Todd Volkers, executive vice president of Sales, and Ron Roonzani, vice president of Sales, at this year’s event. The duo will be available to discuss Optio’s individualized collection strategies during networking events or by appointment after the conference.
Article Summary
- Why should one attend the Utility and Collection Symposium?
- What kind of educational content can be expected?
- What kinds of networking opportunities will be available?
- How can Optio Solutions improve your current collections?
Programming for Utility Collection Professionals
This year’s symposium is jam-packed with educational content. Programming includes interactive panel discussions and utility company case-studies on process improvement/change management, collection/bad-debt reduction strategies, and business case development. Below are a few examples of the content that attendees can expect to absorb.
The conference starts off strong on the first day after registration with the pre-symposium workshop. The workshop consists of utility-focused round table discussions led by moderators from PSEG Long Island, Pedernales Electric Cooperative Inc., and Consolidated Edison. Participants will have the opportunity to join a group discussion of their choice. Each group will focus on the following topics:
- How to calculate bad-debt reserve
- Effects of AMI on bad-debt
- Open discussions
- Additional TBA topics
The following day, Mike Horn (supervisor at Credit & Collections of Ameren, Mo.), will discuss a case study from his company about forecasting bad-debt techniques. Horn utilizes agency Middleware programs to apply “vintage” analytics to accurately predict service bad-debt three months into the future. The discussion will include the company’s treasury budget accruals for bad-debt, predictive modeling and how to effectively predict total net write-offs.
On the last day of the conference, Collections Analyst Mike Sedlak at PSEG Long Island will present a case study called Interactive Tools to Identify High-Risk Accounts and Better Deploy Field Resources. PSEG Long Island developed an interactive HEAT Map that allows it to identify optimal workloads for its operations. The tool utilizes account information including day sales outstanding, arrearage levels, and net write-off metrics. Specifically, the tool helps identify high-risk accounts and assists in monitoring daily trends and progress. This tool, used in conjunction with daily operations, helps PSEG Long Island deploy its resources more efficiently.
Networking Opportunities
The symposium provides opportunities to network with other utility collection professionals in the industry over food and beverages.
Tuesday will feature a midday group luncheon that provides a chance to sit down with peers and discuss the conference programming. There are additional morning and afternoon refreshments and networking breaks in between educational programming. Lastly, cocktail and networking receptions are scheduled Monday and Tuesday evening to help attendees unwind and relax.
The conference makes registration for events even more appealing by providing breakfast both Tuesday and Wednesday. It’s a great way to jumpstart brain activity and connect with fellow attendees before the learning experience.
Solutions for Utility Industry Credit and Collections
Utility collection professionals in search of a new or replacement debt collection agency can turn to Optio Solutions for a favorable return on investment, brand protection, and customer retention.
Optio Solutions is a best-in-class debt collection agency that provides first- and third-party collections to a variety of industries, including energy and utilities.
By using its framework of industry experience, compliance, certification, data protection and collections technology, Optio can provide effective results for consumer and commercial accounts.
Optio acknowledges the specialized needs of utility companies and understands that debt collections are a critical part of their revenue cycles.
Contact us today to learn about individualized collection strategies built for energy or utility companies.
