Utility Bill Tracking Software: Intelligent Vendor Management
If you’re trying to manage multiple facilities efficiently, then organized data is your best friend. Not only do you have different facilities to manage, but there’s also a good chance you’re going to have to deal with different types of data coming from each location. And you’ll need a way to organize that data effectively.
One of the most complex pieces to consider is managing utilities. Utilities billing can get complicated very quickly, especially when you’re managing more than one facility. Your facilities could have multiple accounts with one vendor, or be spread across several different providers. Some have contractual pricing obligations, while others don’t. Some use all the utilities offered by a vendor, while some only use a select few.
So how can you keep up with all of this while still paying the bills on time? The easy answer is to leverage automation software to help. But not every type of automation software can provide all the features you need to handle utilities billing. You’ll need to research your options carefully and find one that includes all the features you need to effectively manage your utility vendors.
There are some companies out there that create logs, track spend, or make adjustments but they are certainly a mixed bag. Using these services often consumes extra time and can cause payment delays. The last thing you want is to try and upgrade the way you manage utilities billing and find out it actually makes things harder!
NextProcess is the smart alternative. Our extensive technology toolkit provides a complete solution to your utilities billing needs. We’ve developed a simple and manageable method to combine granular reporting details with automated payment processing. And it works just as well when managing multiple facilities as it does for one.
Major changes in technology have increased the popularity of cloud-based accounting and management tools. This type of system requires less support from your IT department and is accessible from virtually any location with internet access. Real-time updates will give you the most current data with the click of a button. NextProcess’ cloud-based solutions bring that immediate access to your utilities so missed payments and contract disputes can become a thing of the past.
Tracking Software Perks
NextProcess’ Utility Bill Tracking Software is a supplemental feature within our Accounts Payable automation system. It also acts as a standalone product. Harnessing this technology, you can:
- Manage your various utility providers and the types of services you utilize in a centralized location by linking multiple facilities to the same software using Cloud-based technology.
- Capture usage detail for electricity, gas, water, waste services, and any combination in between.
- Process without delays. All of the utility data is captured within the same standard 24-hour turnaround time established for our Accounts Payable Invoice capture. Speedy processing means you won’t face any late fees or disconnect issues with your utility vendors.
- Customize how the system handles utility invoices, such as automatically generating a unique invoice number and automatic GL coding.
- Set preferred locations and expected invoice receipt dates. When the system doesn’t receive documents in a timely matter it sends you an email notification so you can follow-up with vendors.
More Complete Reports
Another major benefit to using Utility Bill Tracking Software comes from the reports it generates. The system automatically collects data and sorts it into an easy-to-use database. This helps you with forecasting and budgeting, and also makes audits easier. Our system lets you:
- Identify changes in usage patterns. The more detail you collect about how utilities usage fluctuates, the better you’ll be able to forecast expected utilities use.
- Easily compare how different facilities are using utilities. This lets you see which facilities are more energy efficient and which are more wasteful so you can focus improvement efforts.
- Create custom reports to provide line level detail of utility consumption, billing rates, and off peak-discounts.
- Reports can be provided to relevant employees daily via email or loaded into a data warehouse through an automatic file feed. It’s your choice.
- Generate reports within the utility bill tracking software to analyze usage detail by vendor, location, time periods, and more.
- Regional, district, or area managers can automatically receive reporting information about their facilities for quick and simple review.
- Standardize methods of presenting reports (which is harder to do when you’re using spreadsheets). This helps you present unbiased results to auditors and/or clients.
All the perks of NextProcess’ Utility Bill Tracking Software come in a user-friendly package. Implementing and then using the system are both simple. NextProcess handles the set-up and we’re responsible for maintaining the software, so there’s no burden on your IT department. Plus, we designed the system for ease of use and you can customize it to your company’s policies and employee preferences.
If you’re ready to move forward with utility bill tracking software, simply get in touch with us. We’ll be happy to answer any questions you have and to set up a demo so you can see exactly how our system would work in your business.