Utility Bill Administration is resource and time-intensive. Large and medium-sized companies with multiple accounts make changes to their real estate frequently which can be exacerbated when they make acquisitions requiring high volumes of utility accounts to be opened, closed, or retitled. While our teams provide a complete utility bill administration solution, we focus in this article on the process of opening and closing utility accounts.
Thanks to ingenious process innovation, we ensure accurate streamlining of all site, lease, and account information required to manage account changes. Vervantis billing teams provide end-users with a service that does the heavy lifting in a simple, affordable package.
Using data captured from internal and external utility bill management systems, Vervantis has automated utility account administration and the data capture process, alleviating form filling and transposition errors. Clients can now request utility or site account changes with just a click. We automatically populate the information required for the selected service into an authorization form for immediate electronic transmission to the Vervantis operations team. Using our database of over 3500 utility companies, we can quickly access the right department to make the required changes. The utility bill administration team then make sure to set up the site on the correct tariffs or rates and follow that through to make sure the first and last bills are accurate.
We also manage billing exceptions, and if it’s the last invoice, deposit reimbursements are recorded and returned. Vervantis has completely transformed the entire process, saving time for both our clients and us, better still it’s completely scalable. Recently, for example, one of our clients acquired several new locations requiring over 1000 utility accounts to be retitled (closed and opened in the correct entity) which we completed in less than 30 days.
Data is our lifeblood, we are experts in gathering, cleaning, and validating data. When a client transferred to our platform and needed billing history from the outgoing bill management company for over 3500 monthly accounts. In less than 48 hours, we had gathered over five years of historical utility bill data supported by more than 11,500 pdf invoices that were first captured and then uploaded into the new billing platform.
To see what a difference Vervantis utility bill administration could make to your Facilities, Accounts, or Real Estate Teams – connect with us here.