Utility Bill Management
Utility Bill Management
Utility bill payment is simplified, streamlining utility bill management, improving data quality and reducing processing cost.
Utility Bill Management
If you are a large or medium-sized company, the chances are paying utility invoices is costing you money and slowing you down. Automating their collection, validation, and payment will find errors, reduce your processing costs and resolve queries fast.
Short payment windows offered by utilities increases the challenge.
However, because it typically takes less than 48 hours for us to process and validate invoices, processing costs are cut with late fees and disconnections mitigated.
The solution can be customized to suit your needs and reduces processing costs by up to 60%. Furthermore, over 70 financial reports support accounting teams along with every invoice and a suite of energy metrics through a secure cloud-based portal.
Paying invoices on time is just the start. Vervantis billing specialists carry out billing exception resolutions, account open close administration, audits and deposit recovery as an on-demand service – so you can concentrate on running your business.
If you want to say goodbye to late fees and disconnection notices forever, contact our team today.
Vervantis are Capturis Channel Partners, North Americas leading UBM service provider. As Channel Partners Vervantis are uniquely positioned to manage utility billing data, invoice exceptions, account open close administration and reporting. Utility data streams can automatically be uploaded to DataHub360™, our secure cloud-based energy management portal.
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.
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.
Whether you’re a seasoned professional or considering utility bill management 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
We know what we're doing.
You'll never be a number!