Accurate utility lease audits, invoice redistributions, and accrual resolution
Vervantis are experts in accurately redistributing invoices for tenant billing. We audit leases and investigate utility accruals to resolution. Improve cash flow and swiftly remove the need for charge-back estimates or accrued amounts in financial statements..
Utility Audit & Accrual Process
A team of industry experts specializing in large and medium-sized companies provides utility audit & accrual resolution services. We deliver an accurate and swift resolution of complex billing anomalies, lease responsibilities, tenant redistributions, and aging utility accrual issues.
Incurred utility accruals during an accounting period for which no there are no received invoices are, therefore, estimated figures since the invoice, when received, may show a different amount. Vervantis billing specialists investigate and audit every accrual to resolution, removing the need for estimates and annual reporting of accrued amounts in financial statements.
Organizations with large portfolios have found it beneficial to continue this audit philosophy into the rest of the portfolio to make sure utilities are billed correctly. Vervantis compare utility invoices against facilities, landlord and lease agreements, and sub-tenant agreements to accurately apply charges and tenant bill-backs.
Vervantis accurately create invoices for tenants from sub-meters based on actual usage. If sub-meters are not available, our billing specialists divide vendor invoices by user-defined factors such as square footage, calculated, or customized energy use intensity metrics.
Every location is subject to a thorough examination to ensure every utility account is matched to a live site. Accounts identified as billing but vacated are closed with payment responsibilities correctly established and recorded within utility bill payment systems and accounts payable departments.
The forensic nature of the audit process provides organizations with a reliable dataset of validated accounts necessary for effective planning and accurate utility budgeting.
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Streamline Expense Management
Improve Data Quality
Reduce Processing Costs
Assurance is the Cornerstone of Excellence
Vervantis is SOC2 Type II certified by independent auditors of the Association of International Certified Professional Accountants (AICPA). This is an ongoing, year-round process that attests our controls and processes meet AICPA trust criteria, as well as rigorous independent penetration testing of our utility software DataHub360TM ensuring data is secure. Cyber insurance is standard in our agreements providing additional assurance and peace of mind.
The cost of missing invoices starts with late fees and quickly escalates to disconnections which seriously impact operations and reputational risk. Vervantis automated invoice collection solves the problem.
Our billing specialists thoroughly investigate and resolve all utility bill exceptions directly with utility vendors, so there is only contact to an organization’s accounts payable or facilities team when all other known avenues have been exhausted.
Our experts carefully plan utility budgets, using multilayered modeling and analysis. This analysis, combined with our utility data cleansing methodologies, ensures financial-grade certainty down to the account level.
Serving Commercial and Industrial Energy Consumers Across the Globe
Vervantis commercial energy consultants serve multiple countries and geographies providing a single solution for outsourced energy & sustainability expertise for businesses. We manage and centralize utility, CSR and ES&G programs, providing regional support to deliver local language expertise across established and emerging markets.
“Vervantis manages our energy purchasing, billing, account administration, sustainability and everything in-between. The service is incredible, they’re always going beyond our agreement to help”
Director Facilities – Aaron’s Inc.
“The team at Vervantis got to know our business and found a renewable energy solution that not only met our environmental goals but saved us money and provided covered parking too”
Facilities Director –
Mountain Park Health Centers
“We used Vervantis engineers for ASHRAE energy audits of our town buildings. The operational and behavioral inefficiencies identified saved us almost 10% without spending a cent on equipment”
Town N. Attleborough
Utility Rates Analyzed
Saving $ Everywhere
Spend Managed $m
Years of Experience
Knowledge Is Power
Growing Every Day!
Vervantis Inc. is an energy, sustainability, and utility bill management specialist providing advice, software, and expertise to large and medium-sized companies across North and South America. The company manages a diverse portfolio of clients in the commercial and industrial sectors from its headquarters in Phoenix, AZ where it is operationally responsible for the processing and payment of more than a million invoices a year and over $3bn in energy spend.
Vervantis is focused on streamlining energy, utilities, and environmental management processes so that businesses can focus on revenue-based activities rather than costly administrative tasks. The company is SOC 2 Type 2 and EcoVadis Platinum certified, which means your data is secure, and we are a company you can trust.