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Meter-to-Cash (M2C) is an important process for utility companies as it represents their revenue cycle and touches the end customer directly. Payments are now evolving at a rapid pace with new providers, new platforms, and new payment tools launching on a near daily basis. For instance, US$ 36.2 Mn funding is initiated by Indian government for smart grid pilot projects to boost the “India Smart Grid Task Force”. Business process as a service (BPaaS) has emerged as a cost-effective way for organizations to optimize key business services.
From a meter to cash (M2C) perspective, BPaaS allows utilities to more effectively meet ever increasing customer expectations for enhanced customer service, capable of handling complex billing solutions with shorter billing and payment collection cycles, deployment of advanced metering infrastructure, cloud mass data billing to meet changing market dynamics, etc.
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The mechanical meters for electricity, gas and water are being replaced with new digital meters in much of the industrialized world which helps to records energy consumption and transmits data to and from the utility company frequently, thereby, allowing direct meter reading and data analysis.
The key companies involved in meter to cash market are Accenture Plc, Capgemini, Computer Sciences Corporation (CSC), International Business Machines Corporation (IBM), Hindustan Computers Limited, Tata Consultancy Services Limited, Wipro Limited, EnterpriseDB, Infosys Limited, Stellar.
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Adoption of smart metering is growing fast in Europe owing to the reasons such as rapid development of new technologies for industrial Internet, day sales outstanding(DSOs) planning for new smart grid projects, wide range of increasingly sophisticated wireless technologies. For instance, France has announced a program that would channel US$ 15 Bn into digital infrastructure with an allocation for smart meters. Due to this reason, there would be a boost in meter to cash market.
The U.S. government boost the Smart Grid Consumer Collaborative by forming private sector companies, utilities and advocacy organizations to focus on smart grid messaging and educational tools for consumers. For instance, United States directed US$ 3.4 Bn in federal economic stimulus funding to boost the smart grid development. Investments around US$ 8.3 Bn directed towards the initial development, upgrades the existing smart water infrastructure in the US. Due to the stated above factor, there would be a boost in meter to cash market.