Utility Bill Management
Utility bill management identifies errors, streamlines processing and simplifies payment
Paying utility bills can be expensive and time-consuming. We automate the collection and on-time payment of invoices, accurately resolving billing queries and payment exceptions. Our team of experts is proven to reduce utility bill processing costs by up to 60%.
Automated Processing and Payment
Utility bill management, processing, and payment is expensive and time-consuming for large and medium-sized companies. Vervantis automate the collection, validation, and payment of utility invoices quickly. We identify errors, resolve them, and stop reoccurrence, reducing errors and streamlining payment. If you want to look deeper into utility bill management and its benefits, we have written an additional article that provides more information on utility bill processing.
Our team of utility experts automate the collection and processing of utility invoices directly from suppliers. Invoices are received electronically or scanned and keyed before being quickly and accurately validated for payment. Typically we take less than 48 hours to process a utility bill, ensuring the tightest payment deadlines are met.
Processing payments for multiple utility accounts is time consuming and resource intensive, often resulting in costly late fees and penalties. Vervantis expense management specialists target these inefficiencies, reducing utility bill processing cost by up to 60%. In addition, over 70 financial grade reports support accounting teams along with every invoice as a pdf and digital file.
DataHub360™, our proprietary web-based energy management portal, delivers a suite of metrics and analysis 24 hours a day, ensuring you and your accounts team have the latest information.
If you want to reduce the cost of utility bill processing and expense management and say goodbye to costly late fees and disconnections, contact our bill management team today to understand if automated utility invoice processing and payment is a good fit for you.
Building The Business Case
Compiling a business case for an outsourced Utility Bill Management service can be challenging to quantify and articulate. Companies realize that directing utility bills to their accounts payable teams for evaluation, processing, and payment creates an increasing burden on their resources. Still, often when applying a monetary cost to their internal process, many costs get overlooked.
The value of outsourcing Utility Bill Management and payment increases when large numbers of invoices (200+/month) are received for processing, or the complexity of higher value invoices becomes too challenging to validate. Also, organizations rarely consider the ongoing cost to their business of late fees, disconnections when invoices go missing or overspend if invoices are out of line with their contracted rates.
For a free copy of “Building the Business Case for Utility Bill Management” contact us or
Call us at (888) 988-5474 to learn more today!
Call us at (888) 988-5474 and schedule your live demo today!
Streamline Expense Management
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Vervantis is a leading North American UBM service provider. Vervantis are uniquely positioned to manage utility billing data, invoice exceptions, account open close administration and reporting from any bill payment processor. Utility data streams can be automatically fed into DataHub360™, our secure cloud-based energy management, and utility administration portal.
Resolving exceptions on utility invoices can be a time-consuming process often requiring specialist knowledge. The challenge is often exacerbated by short payment windows which make it almost impossible to resolve queries before they become due. Vervantis has a team of billing specialists who validate and resolve invoices directly with utilities before completing UBM payment authorizations, administration, and updates.
Communicating with utility vendors to open and close accounts can be a time-consuming process. There are over 3,500 utility companies in North America each with their own processes for the administration of accounts. Setting up utility accounts, mapping the correct GL codes, validating initial invoices, deposits and resolving billing exceptions is resource heavy. Our team of utility account specialists provide open close services as a stand-alone solution and manage everything on your behalf from start to finish.
Utility vendors typically request security deposits for new and existing accounts until a satisfactory payment history has been established or the account is closed. For organizations with hundreds or thousands of accounts, the deposit totals can be significant, but its money that can be put to better use elsewhere. Following a proven approach, Vervantis communicates directly with utility companies to recover deposits and return them to the business.
When an organization fails to receive an expected utility invoice, an accrual is made in the accounts to allow for payment. If invoices never arrive, the accruals continue to increase. Over time the amounts can add up and will eventually require deeper investigation and audit to resolve. Our billing specialists are experienced in utility, lease and sub-tenant audits which uncover payment responsibilities, chargebacks and remove long-term term accruals.
Utility budgets are complex. Energy usage will vary with changes in your activities and the weather, and because energy is a commodity, prices can fluctuate dramatically from one month to the next. Vervantis carefully plan the budget setting process developing utility data cleansing methodologies that ensure financial-grade accuracy even down to the account level.
Whether you’re a seasoned professional, or automating utility bill processing for the first time, our team has the knowledge and insight to improve your process and save you more – guaranteed!
Electricity and Natural Gas are commodities that change in value constantly. To understand the best sourcing options, it helps having specialist knowledge matching business requirement to risk appetite precisely. Contracts are sourced in every competitive market and regulated utility rates are checked in the rest. Proprietary risk management solution SourceRisk™ delivers tailored purchasing strategies to larger consumers, valuing price risk daily and transacting flexibly (fixing & unfixing) in a unique supply agreement.
The cheapest unit of energy is the one you don’t use. Vervantis engineers are ASHRAE, N.E.S.I and LEED certified and expert in uncovering behavioral and operational inefficiencies. Most level one and two audits uncover 10% in energy savings with half of these requiring no capital and the rest under 2-year payback with deeper audits uncovering in excess of 30% savings.
Sustainability is streamlined with our agile and accredited financial-grade reporting software that underpins CSR programs (CDP, DJSI, GRI etc), and brings environmental strategies to life. Simplify management with supplier surveys, task assignment, automated follow-up and data collection. An independently verified process ensures data quality, and because we keep all emission factors up to date, you never have to worry about accuracy for audits.
Independent financial-grade analysis underpins our distributed generation and storage viability studies that calculate the optimum type, size, and return on investment. Vervantis provides all the detail on funding option scenarios from financing to leasing, including zero down power purchase agreements. Experienced project managers keep you on track working with vendors and utility companies to get you up and running in the shortest time possible.
Competetive & Regulated Markets
All Geographies Covered
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