While the utility industry as a whole lags behind other industries in terms of outsourcing adoption, in recent years many utility companies have leveraged outsourcing aggressively. A key reason behind this shift is the increasingly challenging business environment for utilities due to factors such as deregulation, rising commodity prices, aging workforce, rising customer expectations, and the advent of disruptive technologies such as smart metering. Outsourcing Meter to Cash "M2C" scope (both for IT and BPO services) is a prime business optimization lever for many utilities.