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.
ENGIE Impact worked with Silverado Senior Living’s finance and accounting teams to identify three core resource management challenges:
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.
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.
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.
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.
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.
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.
ENGIE Impact helped Silverado Senior Living establish an integrated resource procurement strategy that aggregates its purchasing power and capitalizes on savings opportunities.
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.”