NirvanaSoft merged with Hansen Technologies on November 1st 2010.
Press Release
The NirvanaSoft product provides a complete retail and complex billing solution for competitive energy markets, independent of a CIS system.
Customer Benefits:
- Clients have driven down the cost to serve and accelerated rollout of new products and entry into new markets by taking advantage of the product's flexibility to structure and bill energy products that manage price and volume risks.
- The solution may be deployed on a stand alone basis or as a component of an integrated, enterprise solution architecture.
Key features of the complex billing solution:
Customer Acquisition
NirvanaSoft stores prospect information (credit, service and logistics) and generates requests for pricing data (usage) and customer switch requests.
Account Management
CSRs use NirvanaSoft to create and maintain customer accounts, energy services, energy market transactions (EDI/XML), contracts and invoice/billing preferences. CSRs can access invoice and payment history, energy data and handle customer issues.
Energy Data Management
NirvanaSoft stores actual and estimated reads (cycle or time series), maintains an audit trail of the validation-editing-estimation (VEE) process, and generates billing determinants like critical peak period necessary to the billing process.
Complex Billing & Pricing
NirvanaSoft offers flexibility for structuring and billing complex energy products that can include capacity, energy, transmission, options, indices, demand response benefits and other pricing components. NirvanaSoft supports billing interval metered energy flows as well "intervalizing" non-IDR meter data. The flexibility offered by NirvanaSoft extends to invoice presentation, providing customers options for invoicing, including roll-up of multiple sites into a consolidated view and billing triggers that are independent of the meter cycle.
Revenue Management
Users have the flexibility to personalize payment terms and credit enhancements by client relationship or contract. For delinquent accounts, payment plans can be setup to collect on arrearage. Throughout the revenue cycle, NirvanaSoft maintains a detailed accounting of amounts invoiced, payments applied and receivables due.
Energy Market Transactions (EDI/XML)
Within competitive energy markets, timely and accurate billing is highly dependent on an energy company's ability to automate market specific rules for customer switching, billing and settlement processes via EDI or XML. NirvanaSoft provides native support for energy market transactions (EDI/XML) used for customer switching and retailer or utility consolidated billing. Support of energy market transactions is essential to providing customer service representatives a 360-degree view of the customer relationship.
Retail Settlement
Within competitive retail energy markets, cash flow is dependent on the timely and accurate settlement of energy, transmission and distribution charges. NirvanaSoft provides native support of Retail Settlement for Retailer Consolidated and Utility Consolidated billing processes. Users setup customers in retail energy markets for billing as Retailer Consolidated, Dual Billed or Utility Consolidated (Rate Ready or Bill Ready). Energy charges are generated, billed and collected based on processes that can be customized for market specific rules. Accounts receivables are maintained for both the customer and retail settlement with utilities.
Client configuration
NirvanaSoft offers the user independence by providing configuration management user interfaces for customer management, billing, energy products and other critical functions of the application. Users can customize their use of the NirvanaSoft application while remaining on the upgrade path for future product releases.