Accurate address data vital for next-day switching success
Address mix-ups are easy, and unfortunately very common. In fact, according to GeoPlace, millions of new address records are created across Great Britain every one or two months. But for utilities, the stakes are high. Mistakes can lead to fines, reputational damage, uncollected revenue, inability to switch accurately, and the added time and resources spent rectifying them.
While it’s easy to underestimate the importance of good address management, the associated risks can be costly for utilities. If bills are sent to the wrong address, for example, there is a high chance of utilities companies losing out on that revenue as customers can’t pay bills they don’t receive. Inaccurate address data can compound into even larger issues for consumers. One Glasgow woman received a shock demand for £4,000 in unpaid bills, irrespective of diligently topping up her pre-payment meter for years. The problem was that the meter had been incorrectly registered to a different address so the power consumed at her address had been unpaid for.
Idox helps Landmark Information Group with effective address management solution
Up until today’s launch of next-day switching, changing energy supplier could take up to 15 working days to complete. One of the key causes of inaccurate or delayed transfers is poor address data. So how will the industry cope with the pressure of having to reliably switch consumers within 24 hours?