Convergys Lights Up Smart Grid with Smart Solutions
Convergys Corporation (NYSE: CVG), a global leader in relationship management, today announced the worldwide availability of Convergys Smart CIS Solutions, next generation billing and customer care solutions for the utility and energy markets.
ebizQ received the following:
Aging infrastructure coupled with continuing changes in new technology, customer awareness, and regulatory focus are having a significant impact on the traditional utility business. Utilities all over the world are facing a future marked by high volumes of data, mandated complex rate structures, and new consumption models that include electric vehicles and consumer-based generation while saddled with legacy systems designed to support low transaction levels.
Unfortunately, not only are these legacy systems functionally challenged, they are also costly to operate, with small changes requiring months to complete and millions of dollars. In addition, existing billing and customer care options cannot fully realize the vision of the smart grid without a fundamental shift in the way they leverage data, manage customer relationships, and develop rate structures. Convergys designed its Smart CIS Solutions specifically to improve current utility operations while extending next generation functionality and scale for future utility operations.
The new, state-of-the-art Convergys solutions include:
- Complete end-to-end CIS functionality including Customer Management, Revenue Management, Collections, Inventory, Work Force Management, and Campaign Management, available as stand alone modules or as a single fully-integrated solutions
- Patented, flexible architecture enabling rapid configuration of new applications without costly customization changes to core code
- A phased reference architecture enabling a “grow as you grow” footprint to advanced metering infrastructure (AMI) and smart meter deployments
- Real-time, two-way, scalable, rate calculation and billing enabling innovative and dynamic pricing and rate structures
- Multichannel customer relationship management tailored to handle utility products, processes, and data
- Real-time business intelligence applied via consistent and proactive policy management
Key benefits of the Convergys Smart CIS Solutions include:
- Risk Minimization: The flexibility of the solutions provides an innovative approach to enabling technology as it evolves in countries worldwide. By co-existing with legacy systems, Convergys Smart CIS Solutions can reduce the technology and investment risk traditionally associated with this kind of paradigm-shifting effort. Utilities are no longer subject to a costly end-to-end replacement of their billing and customer care solutions, investing tens of millions of dollars and thousands of hours before the solutions prove themselves. This flexibility is accompanied by a business model tailored to the utility’s resource and capitalization requirements.
- Faster Time to Market: Convergys can deploy its Smart CIS Solutions via license, managed service, or build-operate-transfer, adapting to the utility's immediate business requirements and economic environment. The combination of an incremental deployment and an adaptable business model puts the utility in the driver’s seat.
- Faster ROI Breakeven: As utilities modernize their systems to address pressing global energy issues such as environmental protection, conservation, and energy independence, the Convergys Smart CIS Solutions enable a more effective and efficient relationship with both consumer and business customers, while it helps ensure a revenue and cost model that puts a winning smart grid value proposition within reach.
“As smart grid rollouts expand, both the frequency and quantity of data are increasing exponentially. This puts extraordinary stress on the systems that manage the data – but also presents opportunities to better optimize operations and enhance the customer experience through automation and real-time actionable intelligence,” says Bob Lento, Convergys President, Information Management. “Our solutions change the status quo of inflexible, costly, legacy systems. Convergys’ 25 year experience helping large multi-national firms undergo network transformations gives us the technology and the process knowledge to ensure that our Smart CIS Solutions meet both current and future billing and customer care needs.”
“The smart grid will not be successful without the ability to put more information and choice into the hands of customers, empowering them to make wiser energy decisions. Utilities must carefully manage their customers both during and after smart meter deployment, particularly with regard to the introduction of time-of-use billing. Because the bill is the principal contact point a utility has with its customers, there must be a fundamental shift in the way utilities manage data, provide customer options, and bill for energy,” says Stuart Ravens, Principal Analyst, Ovum. "Convergys claims that its platform has been deployed at over 100 clients worldwide across multiple verticals processing nearly a trillion transactions annually. The vendor’s billing technology addresses many of the issues created by smart metering, and has been proven to work at a scale that will satisfy even the largest utilities.”