AUSTIN, Texas--(BUSINESS WIRE)--Olea Edge Analytics, an intelligent edge computing platform for the water utility industry, today announced their MHA Revenue Recovery Program, a pay-as-you-go option with no upfront costs that allows cities facing fiscal shortfalls from COVID-19 to increase revenue by repairing broken commercial water meters.
The coronavirus has cities across the country slashing their budgets, laying off workers and cutting municipal programs. The options for making up that revenue gap are limited, but by repairing broken or malfunctioning commercial water meters, cities can recover millions of dollars of lost revenue.
“We want to offer a low cost-of-entry program for cities to see fast revenue recovery,” said Dave Mackie, Olea Edge Analytics’ CEO. “The faster we get going, the faster the net revenue will accrue to the benefit of the utility. We strongly believe we will deliver an exceptional first-year benefit and more than 200% return every additional year.”
Under the MHA Revenue Recovery Program, Olea will install 100 of its Meter Health Analytics (MHA) units for no charge and begin to identify all under-billing issues on those meters within 30 days of installation. The city or water utility, in turn, commits to complete timely repairs within the next 30 days after Olea identifies them. Only after the repairs are made and money starts flowing back into the budget does Olea begin to recover their costs.
Olea Edge Analytics Covers the Rollout Cost; Cities Pay Only After Sufficient Revenue Is Recovered
A city’s network of commercial water meters is often part of an aging infrastructure that includes leaky pipes and water main breaks. Olea Edge Analytics’ history with numerous utilities shows that up to 40% of all high-volume commercial water meters are underbilling and need repair. But without reliable insight into where the problems lie, cities cannot capture revenue opportunities in the system.
As Olea pinpoints where cities are losing out on water billing revenue, water providers can begin to see an immediate ROI with prioritized meter maintenance recommendations. Past projects have generated significantly more than a 10% revenue increase and avoided the administrative hassles of raising rates or changing the monthly billing structure.
With the MHA Revenue Recovery Program, Olea Edge Networks guarantees the identification of at least $200,000 of annualized revenue recovery. If not, the company will remove the solution with no further obligation, but agrees to move forward on a larger rollout if the revenue is identified.
The pay-as-you-go portion of the MHA Revenue Recovery Program means that for every dollar of unbilled revenue above the first-year cost of Olea’s MHA solution, cities agree to subscribe to additional units to find more revenue.
To learn more about Olea Edge Analytics, visit oleanetworks.com.
About Olea Edge Analytics
Olea's proven technology empowers utilities to optimize water delivery, billing and conservation so cities can generate millions more in revenue. Committed to helping water utilities combat aging infrastructure, meet greater demand and limit rate increases, Olea's patented solution combines IoT and edge computing capabilities to bring transparency, accuracy and reliability to the delivery of the world’s most precious resource. For more information, visit www.oleanetworks.com.