Transcript
A BILL UNLIKE ANY OTHER Simply paying bills is not enough. The data captured from these bills provides visibility into billing errors and other savings opportunities. Are you capturing the cost AND usage data from your utility bills? Effective bill processing and data management can help identify billing errors, including estimated bills, overlapping service dates and incorrect meter reads.
Utility Bill
HANDLE WITH CARE Unlike other payables, utility bills typically lack purchase orders, require manual General Ledger mapping and vary greatly from one provider to the next, all with varying bill systems, bill periods and bill level detail.
they also offer a great opportunity for savings — the
While utility bills are complex,
Up to 6%
larger your spend, the greater the opportunity. Auditing for billing errors requires significant time and depth of knowledge to distinguish legitimate bill errors versus anomalies caused by other drivers, such as weather or a broken water pipe. When a billing error is identified, you still have to dispute and work with the utility to resolve.
What percentage does your team identify and resolve?
of utility bills are reissued due to error or revisions on previous bill estimates.
Purchasing and facility teams can leverage
site, regional, and portfolio-wide cost and consumption data to support informed energy sourcing.
TIME IS NOT ON YOUR SIDE U ti li ty B il l
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No matter the size of your Accounts Payable (AP) team, with the hundreds and even thousands of bills received each month, it can be difficult to dedicate the time and attention needed to fully capitalize on savings opportunities.
Discount terms do not apply with utility bills and even worse, many do not allow a full 30 day term for payment, averaging 21.5 days from bill date to due date. Assuming that you receive the bill on the same day it is issued from the utility, it would still cause your team to scramble to get the bill processed and paid on time to avoid potential shut-offs or late fees, leaving little to no time to audit for errors.
17.4 days to 29.8 days.*
The average cost to process and pay
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The average time for enterprises to internally process a single invoice is
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a bill is $21.43/payment.* (Includes both labor and initiating either check or ACH payment)
* Aberdeen Group, Oct 2010
CALCULATE THE COST Ecova has saved our clients more than
$1.6 billion in the past two years and delivered an average 285% ROI on utility bill processing and payment solutions. While internal teams are fully capable of managing most payables, the complexity of utility bills makes it extremely difficult to get the bills paid on time and conduct thorough audits. Take our short assessment to calculate the cost to manage these bills and then request a no obligation meeting to receive a custom ROI assessment for outsourcing your utility bill processing and payment to Ecova.
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Utility Bill
