Last year we looked at a challenging utilities portfolio – with well over 1 million customer accounts, and around 50 million historic receivables. We had to consolidate daily electronic feeds of receivables data from multiple regional utilities providers and we were updating more than 500,000 invoices daily.
Whilst the sheer volumes of data required careful management, the programme was further complicated by a concept of ‘un-billed’, i.e. the advance funding of expected usage based on historic energy utilization. Whilst ‘un-billed’ was not presented to us as actual invoices, we were able to express un-billed in a receivables format and therefore process the un-billed through Global Finance Manager.
Many asset classes can be expressed as “receivables”, allowing them to be processed, analysed and tracked using Aronova technology. And as receivables they can also be credit insured and funded like any other trade receivable. Obvious candidates are hire purchase and loan facilities where each monthly repayment can be expressed as a receivable with a value, tenor and due date, but other asset classes like credit cards can also be expressed as receivables and therefore treated similarly to a trade receivable.View all articles