One of the most challenging tasks for the AP departments of multi-site organizations is utility expense management. Thousands of disparate invoices are received each month from hundreds of vendors, and there’s more to these complex payables than just simply paying the amount due. Having the right process in place to proactively audit and analyze each invoice can uncover significant savings, but it is labor-intensive and somewhat outside the scope of most AP departments.
What is Utility Expense Management?
Utility Expense Management is the process of tracking an organization’s utility expenses, conducting comprehensive bill audits before processing, rectifying bill errors, and ensuring the correct amount is paid on time. Collecting, analyzing, and tracking cost and consumption data is also a critical step to uncovering areas for improvement that can reduce energy and water consumption and save your company money.
ENGIE Impact’s Utility Bill Management Software
Utility expense management processes and automated software can help AP departments manage complex payables. ENGIE Impact uses highly automated processes on behalf of clients to collect and analyze utility bill data and compare it to the account history to identify savings opportunities. The data that ENGIE Impact collects from utility bills is then delivered through the Data Management Platform. This powerful resource management tool unites resource data to deliver powerful insights for reducing cost and consumption across an entire portfolio.
Benefits of Utility Expense Management
Designed for multi-site enterprises, comprehensive analysis and detailed data capture maximize savings and visibility.
Save Money
Identify and resolve billing errors
Minimize costly late payment charges
Proactively identify and resolve late-arriving bills
Spot improper meter reads for electricity, natural gas and water
Consolidated summary statements provide a single file for multiple invoices and sites
Electronic interfaces provide easy integration with a business's existing GL system
Bill audit and dispute resolution
Gain Valuable Data and Strategic Insights Through a Single Platform
Detailed site-by-site cost and consumption reporting
Comparison reports that identify high-cost facilities nationwide
Forecasting tools that analyze past usage to prepare companies for energy purchases in the deregulated marketplace
Comparisons of year-to-date performance against budget
Get In touch
Request a demo of ENGIE Impact’s Data Management Platform to reduce time spent managing day-to-day AP tasks and support informed decision-making with detailed cost and use data across all major resources.
