Rate Adjustment Approvals
Energy and Utilities sector can achieve higher accuracy and adherence with regulatory compliance through optimized rate adjustment approval process
Why automate?
Revenue management and market competitiveness in the energy and utilities sector is directly influenced by timely approval of rate adjustment requests. To approve rate adjustments, teams need to perform thorough financial analysis, coordination between multiple departments, and review of regulatory compliance. Large scale operations in this sector render manual methods of rate adjustment approval ineffective owing to manual calculations, long review cycles, and paper-based documentation. When rate adjustments are not handled efficiently, it results in revenue loss, customer dissatisfaction, and legal implications.
The solution to manual rate adjustment approvals is to automate the workflow so that redundancies are eliminated. Also, automation improves efficiency and ensures compliance with policies and regulations. In an automated workflow, the energy and utilities companies can streamline the approval process ensuring that all reviews and approvals are completed on time. A no code workflow automation solution like Cflow enables real-time tracking of all rate adjustments, bringing transparency and accountability into the process.
How Cflow Can Help Automate the Process
Transform & streamline business processes with cloud BPM & workflow automation software.
Join 100k + Users Who Are Already Using Cflow
“I’m really impressed with the support provided by Cflow. There has never been a time when they have kept me waiting. A product that is simple to use and a team that is smart and extremely fast are factors that help me feel reassured and confident.”
“The WFH environment during the COVID-19 pandemic made it clear how inefficient our processes were. Cflow allowed us to digitize paper forms with automated workflows. If you can envision a tool for an online workflow, it can be done in Cflow!”
“We are extremely liking CFlow. So far any issues that we’ve had once we contacted support they were able to help us resolve the issue. This has helped us take a paper process and replace it, faster and more streamlined now for us.”
