Solution: Prenova has a long-established relationship with Cass Information Systems (“Cass”), who scans the bill images, enters the data into electronic data format, pays the bills, performs certain first level quality checks based on pre-established thresholds, and sends the data to Prenova. Together, Prenova and Cass conduct a prepayment audit that includes duplicate payment search, balance carry forward analysis, missing bill research and prepayment exception list generation and analysis. Cass offers multiple funding options to its customers that allow for flexibility in replenishing the account from which invoice payments are made to utilities/third party suppliers. A customized, electronic file is provided to customers with each funding request that allows for quick and efficient translation of the payments to their general ledger.

There are situations when a customer’s internal requirements necessitate the payment of utility invoices by their own internal Accounts Payable department. Cass and Prenova are able to process the invoices, create a database of bill data history, conduct the prepayment audit, and then remit the payment information in an electronic file for A/P invoice payment.

Outcome: Prenova’s Utility Bill Payment ensures timely and accurate bill payment, and mitigation or elimination of unnecessary late fees. All bills received from utilities are scanned and input within twenty four (24) hours of receipt. Those scanned bill images are accessible via the Cass web site which is embedded in our customer’s Home Page in PreVue_® , which allows the customer a definitive audit process to ensure their bills are being properly managed and accounted for. This process is performed in full accordance with Sarbanes-Oxley compliance and reporting.