Redefining Payment Systems: Accelerating Digital Engagement
Challenge:
Veolia, previously Suez, is the world’s largest environmental organization specializing in water and waste management sectors. Prior to the merger with Veolia in 2022, the company sought to promote paperless options for their bills, without disrupting its customer’s payment deadlines. The transition posed a considerable challenge as paper bills often served as payment reminders, and the absence of this could potentially result in missed payments.
Approach:
Mia Papanicolaou and Liz Stephen, Chameleon Collective’s Customer Communications Strategists, partnered with Veolia to address these concerns and develop a solution that would enhance digital engagement without impacting Days Sales Outstanding (DSO). They strategized a comprehensive plan to facilitate seamless payment transitions to digital platforms while ensuring customers received timely reminders about their payment deadlines.
Impact:
Our strategy not only prevented an increase in DSO but remarkably, it was reduced. On average, the period for a customer to pay dropped from 9 days to a majority paying within the first week of receiving their eBill: 47% of customers paid within three days and 59% within the first week. Furthermore, the shift to paperless billing resulted in substantial cost savings of approximately $6 million for the company. Chameleon Collective’s customer-centric approach was crucial in driving digital engagement and improving the overall payment process, establishing a successful roadmap for Veolia’s digital transformation journey.
