Robotic Process Automation (RPA) has opened up new ways for utility consumption data to be applied, driving a deeper understanding of the data and identifying savings opportunities, and improving operations. A robust Utility Bill Management (UBM) Platform monitors, measures, and validates energy usage providing trustworthy and accurate data. The benefits are integrated into cross-functional teams, made up of Facility Management, Accounts Payable, and Information Technology. Prominent companies across all industries should start viewing energy data analytics as a crucial shareholder value function and prioritize it accordingly.
Accounts Payable departments are stretched thin as COVID-19 continues to take its toll on businesses. AP teams are busy reconciling accounts, verifying vendor accounts, and handling employee payroll; which leaves little time to monitor the nuances of utility bills. Between short pay periods, missing utility bills, incorrect billing charges, most multi-site companies will struggle to keep up.
Utility Bill Management (UBM) adds more value to users than utility bill payment and bill validation services. Because energy usage is an integral part of corporate facilities and operations, the information can be repurposed for operational improvements. Facility Managers can use utility analytics for managing and reducing usage, for providing insight into energy patterns, and for creating accurate budgets. A strong UBM platform will offer easy and quick data visualizations, downloadable reports, and an intuitive energy dashboard. Understanding energy data and energy data management will create data-driven decisions to support budget adjustments, usage forecasts, and savings opportunities.
If you find yourself wondering how you can lower your utility bills and better understand your utility usage, it may be time to explore UBM as a means to answer the following questions:
- Are we overpaying on our utility bills?
- Is the energy data available in real-time?
- How is energy data useful across your organization?
- How can we track the costs of electricity, gas, water, and telecommunications?
- Can we compare the usage and costs against budgets?
- What is our energy and water spend by facility or region? Are energy costs allocated efficiently and aptly?
- Which facilities are performing best or worst compared to other properties within the region? What about across your entire portfolio?
- Have we cut down or stop late fees?
- Are we using more utility resources this year compared to last year?
- Are our energy conservation efforts yielding results?
- What savings opportunities are available in our market?
Bill Identity is the only energy management platform with full Robotic Process Automation, capable of processing and validating thousands of bills per minute. Interested in learning more? Watch our product demo.