A software company has won a contract to support the UK’s smart meter rollout.

IFS, the global enterprise applications company, announced it will assist National Grid’s new smart meter business, National Grid Smart, with its ‘IFS Applications 9’ software.

National Grid Smart offers a fully-managed smart meter service to energy suppliers, with services ranging from asset financing and installation to managed logistics and customer communications.

The software will help manage financial information, procurement, assets, customer service and the mobile workforce.

Smart meters are expected to deliver a range of benefits for consumers and organisations, including using real-time usage information to reduce energy use and bills.

It also signals the end of estimated billing – consumers and organisations will be billed for the exact amount of energy they use.

Kerri Matthews, Director of National Grid Smart, said: “The implementation of ‘IFS Applications 9’ mirrors the concept of smarter thinking that underpins our smart metering programme, helping us access vital information in real-time to ensure that we’re able to meet tight project deadlines and in the long-term, ensure a smooth roll out of interconnected smart meters.”

IFS’s product was chosen following a competitive six-month selection.

The government’s smart meter rollout could cost £1 billion more than previously predicted, taking the total cost to £12 billion.