Truckee Meadows Water Authority Stabilizes Rates for Customers by Driving Operational Efficiencies with InvoiceCloud

Rhea-AI Summary

The Truckee Meadows Water Authority (TMWA) reported achieving $175,000 in annual operational efficiencies by adopting InvoiceCloud, an EngageSmart solution. TMWA improved customer experience by increasing AutoPay adoption by 22% and reducing mailed payments by 20%. The integration allowed TMWA to stabilize rates for over 135,000 customers while saving time and costs associated with payment processing.

Positive

• Achieved $175,000 in annual operational efficiencies.
• Increased AutoPay adoption by 22%.
• Reduced mailed payments by 20%.
• Streamlined payment processes improved customer satisfaction.
• Freed up 25 hours of staff time per month for community projects.

Negative

• None.

RENO, Nev. & BOSTON--(BUSINESS WIRE)-- Truckee Meadows Water Authority (TMWA), a not-for-profit, community-owned water utility, announced the results of implementing InvoiceCloud, an EngageSmart (NYSE: ESMT) solution for online bill payment services. TMWA achieved $175,000 in annual operational efficiencies by driving e-adoption, enabling the utility to offset rising costs and stabilize rates for customers.

TMWA has approximately 250 employees and serves over 135,000 customer accounts spanning a service area of 170 square miles. Prior to implementing InvoiceCloud’s digital engagement and payment solution, TMWA was using multiple payment vendors and systems that did not communicate with each other. Customers were frustrated with the lack of payment options and difficult user experience. To remove friction in the payment process and streamline all payment channels under one solution, TMWA adopted InvoiceCloud’s true SaaS billing, payment, and customer engagement solution.

Working together with its customers, TMWA drove digital self-service through a 22% increase in AutoPay adoption and a 20% decrease in mailed in payments in its first year with InvoiceCloud, as well as a 3x increase in paperless enrollment in the past year (measured Oct. 2021 through Oct. 2022). With the significant decrease in operational expenses, optimization of staff workload, and increase in overall savings, TMWA was able to apply the resources saved towards stabilizing rates for customers, even amid an industry-wide rise in rates. InvoiceCloud’s digitized billing and payments process saves employees and customers time and money by helping to reduce paper costs and late payments. With increased self-service options, customers are able to make payments and self-manage their utility account in the ways most convenient to them. This, in turn, frees-up 25 hours of TMWA staff time per month that can now be used on high-impact community projects.

With InvoiceCloud, TMWA customers have expanded access to a variety of payment methods including online billing, AutoPay, pay by mail, pay by phone, and more.

“The user experience with InvoiceCloud is night and day compared to our previous systems, and our staff has gained valuable time back in the day to focus on other operational tasks,” said Marci Westlake, Customer Service Manager at Truckee Meadows Water Authority. “Keeping customers happy is TMWA’s number one priority, and InvoiceCloud helps make that happen.”

For more information on Truckee Meadows Water Authority’s experience with InvoiceCloud, check out their story here.

About Truckee Meadows Water Authority:

Truckee Meadows Water Authority is a not-for-profit, community-owned water utility, overseen by elected officials and citizen appointees from Reno, Sparks, and Washoe County. TMWA has 258 employees serving over 135,000 customer accounts spanning a service area of 170 square miles.

About InvoiceCloud:

InvoiceCloud, an EngageSmart solution, is a leading provider of online bill payment services. Founded in 2009, the company has grown to be one of the leading disruptors in the cloud-based electronic bill presentment and payment (EBPP) space, helping institutions put customer experience first. By switching to InvoiceCloud, clients can improve customer engagement, loyalty, and efficiency while reducing churn and missed payments in the process. To learn more, visit www.InvoiceCloud.com.

About EngageSmart:

EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of September 30, 2022, EngageSmart serves 94,500 customers in the SMB Solutions segment and 3,300 customers in the Enterprise Solutions segment across several core verticals: Health & Wellness, Government, Utilities, Financial Services, Healthcare and Giving. For more information, visit www.engagesmart.com and follow us on LinkedIn.

Forward-Looking Statements

Certain statements in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on current expectations and assumptions that are subject to risks and uncertainties. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as “expect,” “intend,” “anticipate,” “estimate,” “believe,” “future,” “could,” “should,” “plan,” “aim,” and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding anticipated financial performance and financial position, including our financial outlook for the full year 2022 and thereafter, and other statements that are not historical facts. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, but not limited to, the following: our inability to sustain our rapid growth; failure to manage our infrastructure to support our future growth; our risk management efforts not being effective to prevent fraudulent activities; inability to attract new customers or convert trial customers into paying customers; inability to introduce new features or services successfully or to enhance our solutions; declines in customer renewals or failure to convince customers to broaden their use of solutions; inability to achieve or sustain profitability; failure to adapt and respond effectively to rapidly changing technology, evolving industry standards and regulations and changing business needs, requirements or preferences; real or perceived errors, failures or bugs in our solutions; intense competition; lack of success in establishing, growing or maintaining strategic partnerships; fluctuations in quarterly operating results; future acquisitions and investments diverting management’s attention and difficulties associated with integrating such acquired businesses; general economic conditions (including inflation and rising interest rates), both domestically and internationally, as well as economic conditions affecting industries in which our customers operate; the war in Ukraine; concentration of revenue in our InvoiceCloud and SimplePractice solutions; COVID-19 pandemic and its impact on our employees, customers, partners, clients and other key stakeholders; legal and regulatory risks; and technology and intellectual property-related risks, among others.

Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect the Company’s operating results and financial condition are discussed in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2021, and our subsequent Quarterly Reports on Form 10-Q, as updated by our future filings with the Securities and Exchange Commission (“SEC”). Such statements are based on the Company’s beliefs and assumptions and on information currently available to the Company. The Company disclaims any obligation to publicly update or revise any such forward-looking statements as a result of developments occurring after the date of this document except as required by law.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221214005210/en/

Media:

Katie Jacobs

Quarter Horse PR

invoicecloud@qh-pr.com



Investor Relations:

Josh Schmidt

EngageSmart, Inc.

IR@engagesmart.com

Source: EngageSmart

FAQ

What operational efficiencies did EngageSmart achieve for ESMT?

EngageSmart's InvoiceCloud helped TMWA achieve $175,000 in annual operational efficiencies.

How did TMWA improve customer payment options with EngageSmart?

TMWA expanded payment methods through InvoiceCloud, increasing AutoPay adoption by 22% and reducing mailed payments by 20%.

What impact did InvoiceCloud have on TMWA's customer service?

InvoiceCloud streamlined payment processes, significantly enhancing customer satisfaction and reducing operational costs.

What is the significance of the $175,000 savings for EngageSmart (ESMT)?

The savings allowed TMWA to stabilize rates for customers amid rising costs, demonstrating effective cost management and customer focus.