Learning Outcomes
Course Overview
The learning outcomes for this online course encompass a comprehensive approach to revamping utility companies' final bill collection and agency management programs. By the course end, participants will acquire a robust skill set and knowledge base to evaluate, strategize, and optimize their Company's programs, including:
- Practical Application: Use actual data to visualize account workflows through process mapping.
- Strategic Analysis: Learn how to conduct a strategic "vintage" analysis of final bills for valuable insights.
- Overcoming Constraints: Formulate strategies for addressing IT and staff constraints.
- Metric Evaluation: Understand the limitations of often used KPIs and report metrics.
- Mastery of Reports: Interpret collection agency reports, including Batch Track reports.
- Financial Goal Setting: Set measurable program goals aligned with organizational objectives.
- Informed Decision-Making: Evaluate in-house vs. outsourcing decisions, considering costs.
- Optimal Timing and Design: Understand liquidation timing and balancing complexity with resources.
- Segmentation Expertise: Develop expertise in segmenting placements by risk for optimized collections.
- Agency Selection and Fee Calculation: Determine the optimal number of agencies and calculate fair fees.
- Technology Integration: Review Middleware Software benefits for efficiency.
Upon successfully completing this course, the instructors will equip participants to overhaul their company’s final billing and external agency collection programs, bringing them in line with industry best practices to achieve optimal performance.
Who Should Attend
This online course is designed for professionals working within utility companies who are directly involved in or responsible for Final Bill collection and agency management programs. The course particularly benefits individuals seeking to enhance their skills and knowledge in this specialized field. The ideal participants include:
- Accounts Receivable Managers: Individuals overseeing the Accounts Receivable department responsible for final bill collections and agency management.
- Financial Analysts: Professionals involved in financial analysis within the utility company, looking to gain a deeper understanding of the intricacies of final bill collections.
- Collections Specialists: Those directly engaged in collections, including credit control, seeking to refine their skills and adopt industry best practices.
- Utility Operations Managers: Individuals responsible for the overall utility operations who want to optimize financial processes and ensure compliance with industry standards.
- Data Analysts: Individuals handling data analysis within the utility company, interested in applying practical applications such as process mapping using real data.
- Decision-Makers in Utility Companies: Executives and decision-makers involved in strategic planning and decision-making within the utility company, aiming to align final bill collection programs with organizational objectives.
- IT Professionals in Utilities: Professionals dealing with systems and technology related to billing and collections, seeking strategies to overcome IT constraints and integrate efficient technologies.
- Risk Management Professionals: Those responsible for risk assessment within the utility company, looking to enhance segmentation expertise for optimized collections.
This Master course is crafted to accommodate various roles within utility companies, fostering a collaborative learning environment where participants can share experiences and perspectives. Upon completion of the course, participants will possess the knowledge and skills required to transform their company’s final bill and outside agency collection programs, bringing them in line with industry best practices for optimal performance.
Instructor
Bruce A. Gay
President
Monticello Consulting Group
Bruce A. Gay is the President and founder of Monticello Consulting Group, a leading consultancy specializing in Accounts Receivable Management (ARM) for the utility industry. With a commitment to innovation, he has been a driving force behind the evolution of industry best practices.
Before founding Monticello in 2002, Bruce honed his expertise in the utility sector, where he spearheaded transformative credit, collection, and debt recovery programs. His visionary leadership and strategic thinking have earned him a reputation as a trailblazer in the industry.
As an author and sought-after speaker, Mr. Gay has shared his knowledge and insights through numerous articles and speaking engagements. He is a recognized presenter at industry conferences in the United States, Canada, and Europe, providing invaluable guidance to industry professionals. In addition to his pioneering work in the utility industry, he founded Conferences By Monticello, a conference company specializing in utility industry events and training. His commitment to fostering knowledge exchange and networking opportunities within the industry underscores his dedication to driving innovation.
Bruce Gay is more than a consultant; he is an industry luminary and an advocate for excellence in the utility sector. His commitment to innovation, problem-solving, and knowledge-sharing sets him apart, making Monticello Consulting Group and his conference company indispensable partners for businesses in the utility industry.
Mr. Gay holds a bachelor's degree in business administration with a concentration in Economics (magna cum laude) from The Wharton School, University of Pennsylvania, and a master's in business administration in Finance from Rensselaer Polytechnic Institute.
Bruce A. Gay