Utility Bill Management
Utility bill management identifies errors, streamlines processing, and simplifies payment
Paying utility bills is expensive, time-consuming and resource heavy. We automate the collection and on-time payment of invoices, accurately resolving billing queries, payment exceptions, and account open-close requests. Our team is proven to reduce utility bill processing costs by up to 60%.
Automated Processing and Payment
Utility Bill Management, processing, and payment are 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.
Who Should Consider a Utility Bill Management Program?
If you are receiving more than 200 utility invoices a month, then you will benefit from an automated bill payment process, and here is why.
- You will make immediate savings on internal resources and labor
- Receive financial grade invoice validations
- Make timely payments with fewer late fees
- Get proactive management of missing bills and investigation of billing exceptions
- Support with account open and close requests
- Fewer disconnection notices
- Better quality data for sustainability reporting, and the identification of underperforming sites.
If you need more help on finding the value just click this link on how to build a business case.
How Can I be Sure Your Process and Company Can be Trusted?
Vervantis is SOC2 Type II certified by independent auditors of the Association of International Certified Professional Accountants (AICPA). This is an ongoing all-year-round process that attests not only that we have the controls and processes in place that meet their trust criteria, but that we also conduct rigorous independent penetration testing of our software to ensure your data is secure. In fact, Vervantis also carries extensive Cyber insurance as an additional comfort to clients should their data be breached.
How Long Does it Take to Get Set Up?
Typically it is a 45 to 60-day process from start to finish. If you are migrating from an existing utility bill management company it can be a little faster as much of the information required will already be available. Our team will support you in data migration to preserve your billing history and make sure you have all that you need from day one.
Our team of utility experts automates the collection and processing of utility invoices directly from suppliers. Invoices are received electronically or scanned, prioritized, and keyed before being quickly and accurately validated for payment. Typically we take less than 48 hours to process a utility bill, ensuring that we meet the tightest payment deadlines.
A proactive missing bill process chases utility companies if a bill is not received a set number of days prior to the normal due date, compared to our competitors who do not consider a bill missing until 15 days after the normal due date, by then you will have late fees or potential disconnection issues.
Having already established that processing payments for multiple utility accounts are time-consuming and resource-intensive, often resulting in costly late fees and penalties, Vervantis’ expense management specialists target these inefficiencies, reducing utility bill processing costs by up to 60%. The utility bill management process captures 100% of the line-item details proving unrivaled data streams for analysis and with over 70 detailed reports available out of the box to support accounting and facilities teams complete with every invoice as a pdf and digital file, you are never more than a few minutes to the answers you seek.
See which invoices are being processed, what stage they are at, when they have been paid, how they were paid, even a confirmation of when they cleared with the utility. See what’s being accrued for outstanding invoices, build a custom report or even view your greenhouse gas (GHG) emissions using e-grid data.
DataHub360™, our proprietary web-based energy management portal, makes tracking your sites and utilities simple. Built-in mapping of sites and accounts delivers immediate access to every bill with filters and data download options at every step. Schedule a new account or close an existing one and track progress all within the software. DataHub360™ also delivers a suite of energy metrics and analyses 24 hours a day, ensuring your accounts and facilities team have the very latest information on the energy and utility programs at their fingertips.
Vervantis resolve billing exceptions, account open-close administration, audits, and deposits recovery, streamlining utility bill management so you can concentrate on running your business. So 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…
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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, making 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 utility bill management 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 methods 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 an established satisfactory payment history or the account is closed. For organizations with many sites and hundreds to thousands of accounts, the deposit totals can be significant, but it’s money that can be better used elsewhere. Following a proven approach, Vervantis communicates directly with utility companies to recover deposits and return them to the business.to
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 more in-depth investigation and audit to resolve. Our billing specialists have experience in utility, lease, and sub-tenant audits, which uncover payment responsibilities, chargebacks, and remove long-term accruals.
Utility budgets are complicated. 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 requirements to risk appetite precisely. We source contracts in every competitive market and check regulated utility rates in the rest. Proprietary risk management solution SourceRisk™ delivers tailored purchasing strategies to more significant 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 more in-depth audits uncovering more than 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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