First Data has launched “First Data Revenue Assurance,” a Web-based service that analyzes data from a utility’s existing billing and metering systems to identify revenue recovery opportunities. Using First Data Revenue Assurance is a simple three-step process. Data is uploaded using a secure Web connection, advanced algorithms are applied to the data to identify and prioritize revenue recovery opportunities and the results are made available on a secure Web site. Because First Data Revenue Assurance is available as a Web-based service, utilities can begin effective revenue recovery activities as soon as their first sets of data are uploaded and processed. Lengthy system implementation is not required and the up-front cost is minimal. First Data Utilities develops utility billing software and provides outsourced utility billing and payment transaction services.
First Data Utilities announced that Direct Energy has implemented the newest version of “Peace 8 Customer Information System” to manage its electricity and gas customers. “Peace 8” incorporates hundreds of new features and enhancements and reflects a particular focus on process improvement to lower utility customer cost-to-serve. Direct Energy delivered $7.6 billion USD of energy and energy-related services to residential and commercial customers in 2006. Direct Energy is one of North America’s largest energy and energy-related services providers with over 5 million residential and commercial customer relationships and is a subsidiary of Centrica plc. First Data Utilities develops utility billing software and provides outsourced utility billing and payment transaction services.
First Data has completed its acquisition of Peace Software, a “Customer Information System” product company that develops advanced software for managing utility billing and customer care.
First Data has signed an agreement to acquire Peace Software, a “Customer Information System” product company that develops advanced software for managing utility billing and customer care. “Peace” software has been installed and is operating at major utilities in 35 regulated markets around the world. First Data anticipates closing the transaction in the third quarter. Last month, First Data executed two major deals including a major supermarket chain and the nation’s sixth-largest credit union. FDC recently began processing credit and debit card transactions for the 407 locations of The Great Atlantic & Pacific Tea Company. FDC also renewed its agreement with Golden 1 Credit Union to provide “STAR Network” access and PIN-debit processing for its more than 280,000 cardholders and its 271 ATMs. (CF Library 6/21/06)