Utility costs often rank in the top three operational expenses for hospitality, retail stores, restaurants, banks and other types of multi-site businesses. This fact translates to significant savings opportunities as well as significant challenges.
Finance, accounts payable, energy and facility professionals are doing their best to manage thousands of invoices across hundreds or even thousands of utilities with varying systems, bill periods and bill-level detail. All these variables can make efficient utility expense and data management a struggle. These factors often lead to missed invoices, late fees, shut-offs or even overpayments. Plus, data from the invoices is rarely captured and analyzed to spot overlapping service dates, billing and meter errors, spikes in consumption and demand, or other usage anomalies—all of which can significantly limit your organization’s ability to strategically manage these expenses.