Major US utility tackles $800M in delinquent accounts
Executive Overview
One of the largest regulated utilities in the United States partnered with Symend to modernize collections after COVID-19 caused accounts receivable to balloon 4x. The utility is deploying SymendCure to address $800M in delinquent accounts across 1.4 million past-due customers, projecting $15-30M in annual value.
The Challenge
The pandemic created unprecedented challenges for the utility. State regulations prohibited disconnections for extended periods, causing delinquent accounts to surge. When moratoriums lifted, the utility faced a massive backlog of past-due accounts and needed a modern approach to engage customers while maintaining positive relationships in the communities they serve.
The Solution
Symend deployed its behavioral science-driven platform to engage delinquent customers through digital channels. The solution includes:
- AI-driven engagement across email and SMS channels
- Behavioral science principles to motivate payment while preserving customer relationships
- 40-50% projected reduction in outbound call volume
- $3-4M in annual operational expense savings
The Results
The partnership is projected to deliver significant value: $10-25M in AR reduction, 2-5% improvement in cure rates, and substantial operational savings through reduced call volume. The utility continues to expand the program as early results validate the behavioral science approach to collections in the regulated utility space.
