Silverado Senior Living Takes Control of Waste and Utility Expenses

Case Study | Read Time 8 min
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Waste Management

Silverado Senior Living is a pioneer in Alzheimer’s and dementia care and one of the largest operators of memory care communities in the nation. With communities spanning multiple states across regulated and deregulated waste and energy markets, Silverado’s finance and accounting teams realized they needed a better way to manage utility and waste expenses.

gradient-quote Before we started working with ENGIE Impact, energy and waste decisions were managed by personnel at the communities. Each community had individual contracts, and bill-payment was an issue. gradient-quote-right
Chris Michael, VP Finance & Analytics, Silverado Senior Living

The Challenge

ENGIE Impact worked with Silverado Senior Living’s finance and accounting teams to identify three core resource management challenges:

1. Wasted Operating Expense

Because procurement decisions were managed by individual communities, the organization was not taking advantage of the lower rates that they could find by aggregating energy and waste services.

With individual communities responsible for paying utility and waste invoices, different bill paying practices resulted in additional fees and security deposits from the utility and waste providers.

And without having energy and waste experts validating their expenses, many communities were unaware that they qualified for utility sales tax exemptions.

2. Excessive Administrative Costs

The administrative costs of having multiple people contract for energy and waste services, process and pay monthly invoices was a suboptimal use of internal resources.

3. Limited Visibility

Without having complete, reliable data, forecasting utility and waste expenses became a significant challenge. Accountants at the home office didn’t have visibility into what was going on at the communities. It was very difficult to accurately accrue for expenses.



The Solution

After aligning on the specific challenges at hand, ENGIE Impact and Silverado Senior Living collaborated on a utility and waste management program that would deliver immediate results while building a foundation for future success.

1. Invoice Auditing and Payment

Rather than having individual communities pay utility and waste invoices, ENGIE Impact now collects, audits and consolidates payment for all Silverado Senior Living’s utility and waste invoices.

2. Cost and Consumption Reporting

To provide visibility into cost and consumption trends, and to identify savings opportunities, ENGIE Impact captures and posts line-item detail for every invoice in an intuitive, online portal.

3. Strategic Resource Procurement

ENGIE Impact helped Silverado Senior Living establish an integrated resource procurement strategy that aggregates its purchasing power and capitalizes on savings opportunities.


gradient-quote With all our information now in one place, we can build a reliable forecast, which makes decisions much easier. Now we have discussions on what we are actually going to do and what levers we have to pull. gradient-quote-right
Chris Michael, VP Finance & Analytics, Silverado Senior Living

30%

reduction in energy costs in competitive markets

75%

reduction in invoice processing time

The Results

Together, Silverado Senior Living and ENGIE Impact are working to make Silverado a national leader not just in memory care and hospice, but in resource management. Chris Michael, Vice President of Finance & Analytics at Silverado Senior Living, said, “ENGIE Impact found savings for us that we never would have been able to find on our own.”

Cost Reduction

  • 30% energy cost reduction in competitive markets
  • Six-figure savings from tax refunds

Streamlined Operations

  • Time to pay invoices reduced from an average of 35+ days down to eight
  • Aligned contract end dates streamlines utility purchases
  • ENGIE Impact handles all utility account opens/closes
  • ENGIE Impact manages all EPA ENERGY STAR® reporting

Improved Back-Office Controls

  • Improved budget performance
  • Quicker resolution of consumption anomalies

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Let’s work together to plan a senior living expense management solution.