San Jose Water Selects InvoiceCloud as Strategic Payment Technology Provider

Rhea-AI Summary

San Jose Water, a subsidiary of SJW Group, adopts InvoiceCloud for online bill payment services, achieving a 70% digital payment adoption rate within the first three months. The integration with Oracle Energy and Water teams enhances customer experience and reduces IT burdens.

Insights

Market Research Analyst

The adoption of InvoiceCloud by San Jose Water represents a strategic move to enhance customer satisfaction and operational efficiency. From a market research perspective, this integration is indicative of a broader trend where utilities are investing in customer experience (CX) to differentiate themselves in a competitive market. The reported 70% digital payment adoption rate is a significant metric, suggesting that customers are responsive to digital transformations in traditionally less tech-focused industries.

Moreover, the move towards digital payments aligns with environmental sustainability goals, potentially appealing to eco-conscious consumers. The ability to offer a variety of payment options, including digital wallets like PayPal and Venmo, reflects an understanding of consumer payment preferences, which can lead to increased customer retention and potentially attract a younger, more tech-savvy demographic.

Financial Analyst

From a financial standpoint, the implementation of InvoiceCloud by San Jose Water can be seen as a cost-saving initiative. The reduction in staff workload and the alleviation of IT burdens through automatic updates may lead to lower operational costs. These savings could be reflected in future financial statements as reduced administrative expenses. The initial investment in the technology, however, should be monitored against the savings to evaluate the return on investment (ROI).

The transition to a more efficient payment system could also be a strategic move to improve cash flow management. Faster processing of payments and the reduction of manual entry could lead to a more streamlined accounts receivable process, potentially improving the company's working capital position.

Environmental Sustainability Analyst

From an environmental sustainability viewpoint, the shift to a paperless billing system through InvoiceCloud aligns with broader corporate sustainability goals. The reduction of paper use not only supports environmental initiatives but also resonates with stakeholders increasingly valuing corporate responsibility. This move can enhance San Jose Water's brand image as an environmentally conscious company.

The long-term impact of such digital transformations may also include a reduction in the company's carbon footprint, as less paper billing translates to less resource consumption and waste production. This could potentially result in positive environmental externalities that benefit the community at large and align with global sustainability trends.

SAN JOSE, Calif. & BOSTON--(BUSINESS WIRE)-- San Jose Water (“SJW” or “the Company”), a wholly owned subsidiary of SJW Group (NYSE: SJW), has implemented InvoiceCloud, an EngageSmart solution for online bill payment services, as its strategic payment technology provider for its approximately 230,000 customer accounts in Silicon Valley. All of SJW Group’s subsidiaries are now on the InvoiceCloud platform. The Connecticut Water Company and The Maine Water Company signed with InvoiceCloud in April 2021; The Texas Water Company followed in July 2021. San Jose Water signed in September 2023 after witnessing the benefits of digital adoption, self-service, and internal efficiencies that its counterparts experienced with InvoiceCloud.

“InvoiceCloud has transformed our electronic bill payment system, ensuring a convenient, secure user experience that has drastically improved our customer engagement,” said John Tang, San Jose Water’s VP of Regulatory Affairs and Government Relations. “With InvoiceCloud, we’ve significantly cut down staff workloads and improved the customer experience, which has increased our team’s morale.”

Prior to using InvoiceCloud, San Jose Water relayed that it struggled with an outdated payment system, resulting in limited payment choices for its customers and labor-intensive processes that drained staff resources. However, in its first three months after replacing that system with InvoiceCloud in September 2023, the Company achieved 70% digital payment adoption within its customer base, immediately saving staff time to focus on other priorities. The combined efforts of the InvoiceCloud and Oracle Energy and Water teams ensured a seamless integration of InvoiceCloud’s true SaaS solution with San Jose Water’s existing Oracle Utilities Customer Information System (CIS). Post-implementation, the payments solution continues to reduce IT burdens with real-time, automatic updates. The streamlined technology stack provides an enhanced user experience for both customers and staff.

With InvoiceCloud, San Jose Water now offers a variety of convenient payment options for its customers. InvoiceCloud allows customers to pay how they’d like, including online, by text or phone, using a digital wallet like PayPal or Venmo, AutoPay, and more. These digital payment options—coupled with InvoiceCloud’s paperless billing features—help reduce paper use, which is a priority for SJW and its customers.

“InvoiceCloud offers San Jose Water Group’s diverse customer base a modern payment experience that enables digital self-service,” said EngageSmart President, Enterprise Solutions Kevin O’Brien. “Customers expect the same level of ease and convenience when they pay their water bills as when they make any other online purchase. Offering a modern system of reminders and payment methods helps utilities meet these expectations to improve both customer engagement and satisfaction."

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, and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of September 30, 2023, EngageSmart serves 116,200 customers in the SMB Solutions segment and 3,400 customers in the Enterprise Solutions segment across several core verticals: Health & Wellness, Government, Utilities, Financial Services, and Giving. For more information, visit www.engagesmart.com and follow us on LinkedIn.

About San Jose Water

Founded in 1866, San Jose Water is an investor-owned public utility, and is one of the largest and most technically sophisticated urban water systems in the United States. The company serves over one million people in the greater San Jose metropolitan area. San Jose Water is a wholly owned subsidiary of SJW Group, a publicly traded company listed on the New York Stock Exchange under the symbol SJW. The following companies are also wholly owned subsidiaries of SJW Group The Connecticut Water Company in Connecticut; The Maine Water Company in Maine; and The Texas Water Company in Texas. To learn more about San Jose Water, visit: sjwater.com.

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Non-Affiliate Disclaimer

Oracle is a registered trademark of Oracle International Corporation. Apple Pay is a registered trademark of Apple Inc. PayPal and Venmo are registered trademarks of PayPal, Inc. All product and company names are trademarks or registered trademarks of their respective owners. Their use does not imply affiliation or endorsement by the trademark holders. The use of any trade name or trademark herein is for identification and reference purposes only.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240220009004/en/

Media:

Nicole Bestard



Quarter Horse PR

Invoicecloud@qh-pr.com

Source: EngageSmart

FAQ

What technology provider did San Jose Water choose for online bill payment services?

San Jose Water chose InvoiceCloud as its strategic payment technology provider.

How many customer accounts does San Jose Water have in Silicon Valley?

San Jose Water has approximately 230,000 customer accounts in Silicon Valley.

What percentage of digital payment adoption did San Jose Water achieve after implementing InvoiceCloud?

San Jose Water achieved a 70% digital payment adoption rate within its customer base.

Which companies signed with InvoiceCloud in April 2021?

The Connecticut Water Company and The Maine Water Company signed with InvoiceCloud in April 2021.

What benefits did San Jose Water witness from digital adoption and self-service?

San Jose Water witnessed benefits such as improved customer engagement, self-service, and internal efficiencies.