NAP selects TransCentra to manage billing and payments processing
Sep 03, 2013 (MarketLine via COMTEX) --
North American Power and Gas, LLC, or NAP, a retail electricity supplier, has selected TransCentra, Inc., a provider of billing and payment software and services, to manage its billing and payments processing.
The end-to-end, multichannel billing and payments processing solution will integrate services across the business, enabling North American Power to simplify and enhance billing and payment communication methods for more than 250,000 customers, while driving operational efficiencies. North American Power sought a solution that would transform its billing and payments model, meet regulatory compliance requirements in new markets, and provide the tools to address customer needs quickly and efficiently, said TransCentra.
"We saw a future growth opportunity in locations such as Georgia and Texas," said Chris Sattler, COO of North American Power. "In order to enter those markets and cost effectively respond to customer demands, we needed an end-to-end solution to address both bill print and payment processing. When evaluating providers, TransCentra was clearly the leader in multichannel billing and payments services. The resulting comprehensive solution gives us outsized capabilities at a mid-market price."
TransCentra will provide North American Power with digital, full-color printing capabilities and a billing template designed specifically for the utility industry. North American Power will leverage TransCentra's print technology for key transactional documents and marketing and promotional materials such as inserts and onserts, TransCentra added.
The ability to make format and design changes on demand reduces production, paper stock and procurement costs for the company. Additionally, North American Power will use TransCentra's postal optimization services, which drive down postal costs using a variety of sophisticated techniques previously only available to larger mailers.
North American Power also plans to leverage TransCentra's payment processing services. These services include paper and electronic lockbox service, payment data management, A/R file consolidation and generation, and more. As the largest managed payment processor in the US, TransCentra will bring its years of experience and economies of scale to bear on North American Power's payment processing, resulting in more efficient payment processing with improved capabilities, reported TransCentra.
"TransCentra is one of the few providers capable of delivering such a comprehensive set of services to North American Power," said Lynn Boggs, CEO of TransCentra. "They are taking full advantage of our end-to-end billing and payment services. All of North American Power's customers will ultimately be the beneficiaries of this simple, easy-to-use billing and payment experience."
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