Black Hills has selected WAUSAU Financial Systems' integrated receivables offerings UtiliWorks to process customer payments, create greater financial efficiencies and streamline operations.
UtiliWorks processes multiple forms of payments, including ACH, checks, mobile RDC, cash and walk-ins, for Black Hills’ more than 763,300 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.
The web-based integrated receivables hub solution, specifically designed for the utility market, is composed of retail remittance, remote capture, digital archive and workflow capabilities and serves as a single platform for the receivables process, which accelerates payment posting, improves labor productivity and increases daily investible cash.
Since switching from an outsourced receivables model to UtiliWorks, Black Hills has achieved operational savings, gained greater control of the lockbox process and accelerated processing time, claimed WAUSAU Financial.
Kreg Warrick, data center operations manager at Black Hills, said: “The decision to bring processes in-house using the UtiliWorks solution yielded significant and quick return on investment for our business.
“WAUSAU’s solution covers every step of the receivables process, from opening and processing payments through electronic clearing to analyzing, reporting, and exception item handling, helping us to achieve operational alignment and reduce associated costs.”