Monetization for Utilities

Monetization for utilities includes billing for consumer based services such as electricity supply by power companies, natural gas supply for cooking, water supply etc. The monetization solution relies on data provided by the metered reads coming from the consumption metres that are metre gauges placed on supply lines. The usage consumption or supply of these utilities is measured and rated by the monetization platform.

EarnBill acts as an effective utility billing solution for monetization of utilities. The utilities which are billed could be electricity supply, water supply or natural gas. The following diagram shows how EarnBill helps in the monetization of electricity supply (or power supply).

As shown in the diagram, the metre gauges are installed on the electricity supply lines by the power company. These metre gauges nowadays do not require manual reading by taking photos etc. The metre gauges are internet enabled IoT devices that can send the metre readings to a cloud based server hosted by the power company.

All the metre readings are captured and gathered on a cloud based server and transferred to EarnBill’s utility billing solution. On the EarnBill Utility Billing platform, the readings are processed by the rating engine for rating and charging the consumption usage. The rating engine interacts with EarnBill’s Product Catalogue and its core billing and pricing module.

The usage charges are sent to an invoicing engine which sends out the bills to the consumers, either as paper bills or e-bills depending on the configuration and preference of users. The EarnBill monetization platform can also process payments on authorised payment instruments such as stored credit cards or bank accounts. The dunning management follows for customers whose payments are not received or if their automated payment fails.