Advanced metering infrastructure (AMI) is one of the hottest topics in the utility industry today. At the heart of the buzz is the “smart” meter, which has the potential to provide a two-way flow of data between the customer and the utility. Early forms of meter-reading automation focused on the delivery of timely and accurate data about customers’ energy use to support the historical billing need. But AMI, with its smart meter platform, is evolving to provide data such as usage patterns and power outage information. These data influence, if not govern, a wide range of decisions made inside the utility, affecting departments as varied as meter reading, information technology, resource planning, revenue protection, financial services, customer communications, customer care, and field services. But with wider functionality come greater challenges—organizational, financial, and technological. Utility executives are using smart meters to capture efficiencies and improve performance in the meter-to-cash cycle.