SEW, the globally renowned provider of digital customer and workforce experience cloud platforms, announced the completion of the acquisition of CHOICE Technologies.
The acquisition further enhances SEW’s capability to deliver and implement end-to-end digital customer and workforce experience platforms and provide comprehensive solutions to improve revenue protection and mitigate losses for the utilities.
Digital CX and WX Platform
The two organizations are vertically aligned in terms of their core operations and products
SEW offers the Digital CX and WX Platform, which, when paired with Choice Technologies, will help utilities unlock the full potential of digital transformation, efficiently overhaul business processes, and achieve cost-efficiency.
The two organizations are vertically aligned in terms of their core operations and products, thus enabling great acquisition synergies.
Revenue Intelligence from Choice Technologies
Choice Technologies is a prominent global player in Revenue Assurance for Utilities, having built its Revenue Intelligence™ platform to assist utilities reduce non-technical revenue losses and minimize operational costs.
This platform is utilized by utilities, serving approximately 100 million customers, with over two million field inspections conducted and annual gains averaging $40 million USD.
CHOICE's platforms and solutions
CHOICE's platforms and solutions offer innovative approaches to collect billing data
Electric, gas and water utilities are seeking ways to protect their revenue and reduce waste without large capital investments.
CHOICE's platforms and solutions offer innovative approaches to collect billing data either in real-time or monthly, helping to reduce losses while maintaining the same utility's OPEX, benefiting all parties involved.
CHOICE's Revenue Intelligence™ platform uses sophisticated AI and ML-based algorithms to accurately forecast fraud probability and the financial return connected to each customer.
Benefits of the platform
The platform enables improved revenue assurance activities such as fraud and theft prevention, meter replacement, administrative process optimization or delivering the threefold benefit of restoring lost revenues for utilities, bringing down tariffs for end customers, and decreasing energy and water usage, helping the environment.
As part of the SEW product suite, together with the industry-renowned customer and workforce experience platforms, utilities will discover a winning combination of theft detection and revenue collection by leveraging sophisticated AI algorithms that analyze customer data to uncover hidden intelligence for utilities.
Welcoming Choice Technologies
Deepak Garg, CEO and Founder of SEW, said, “We are delighted to welcome Choice Technologies to the SEW family. With the ever-increasing cost pressures, utilities are on the hunt for innovative and cutting-edge strategies to streamline operations and adopt digital technologies.”
He adds, “Choice Platforms have demonstrated exceptional expertise in revenue assurance, and combined with SEW Digital Customer & Workforce Platforms, this powerful combination will open up tremendous possibilities for utilities. We are thrilled to partner and drive intelligent transformation in the energy and utility sector.”
