Utility Bill Management Services
What is Utility Bill Management?
Utility bill management is a service, usually outsourced to a third-party entity, that helps a company or organization process, track and review its utility costs. The utility invoice management provider receives and processes a company’s utility invoices. Bills are scanned, and data is entered into specific fields within an extensive database that captures every aspect of an organization’s utility costs. The process often includes timely payment of utility bills and may also include an ongoing review for errors and cost-savings opportunities.
Accurate Utility Bill Pay Services
Streamline Your Utility Payment Functions
Cost Control Associates’ utility bill management services centralize and streamline a multi-site organization’s utility bill processing for electricity, natural gas, fuel oil, water, sewer, phones, internet, waste removal, and/or other utility services. We do this by processing and data entering utility bill cost and usage information; coding bills to proper departments, divisions and other cost centers; and paying utility vendors accurately and on time.
Our utility expense management services include:
- Handling incoming mail
- Managing all building location and utility data
- Scanning invoices and save in PDF
- Entering all invoice data, including expense and usage info
- Researching and resolving missing invoices
- Prioritizing and managing any termination or late notices
- More than 80 standard reports plus customized report options
- Data files that interface with your accounting software
- Budgeting and forecasting tools
- Conscientious data security
- Accurate, on-time payments to your utility providers
24/7 Access to Bill Data
When you outsource utility invoice management to Cost Control Associates, you get 24/7 access to a complete database that allows you to manage your invoice data and generate standard or customized reports on all aspects of your costs. Our reports package also includes the tools you need for budgeting and forecasting. Any information you need on a micro or macro scale can be obtained through our customized option. Cost Control Associates manages your utility payment processing while capturing usage and analyzing critical data.
Most clients couple our utility bill management services with our data analysis and review services to ensure rate optimization and error-free billing. Our systems contain utility-specific information that can help you act quickly on energy supply procurement and other opportunities, too.
Save Time, Pay Less
With Cost Control Associates’ utility bill management services, you will:
- Improve cash flow with payment scheduling (never again pay too early or too late)
- Avoid late fees and prevent shut-offs
- Reduce or eliminate deposits
- Eradicate errors or duplicate payments
- Enjoy a single point of contact with a live person and no automated phone menus
To learn more about how we can help you with your utility bill processing, please contact us.
FAQs About Our "Invoice Processing & Payment" Services
Why would we want someone else to process and pay our utility and telecom bills?
It is a time-consuming process to accurately review, process and pay utility and telecom bills, especially if your organization operates at multiple locations or in multiple states. Due to the complexity of these bills and the short timeframe for payment, it is easy to incur late fees. Avoid those late fees, and let Cost Control Associates manage all of this for you!
Are there other benefits to having Cost Control Associates manage my invoice processing and payment?
Yes! In addition to efficient invoice processing, you get access to a database containing all the pertinent data to help you manage and report on utility and/or telecom costs. We manage all processing and data entry of bill costs and usage information as well as the coding of bills to proper departments, divisions, locations, etc. With detailed, accurate information, you can take advantage of alternate suppliers, rate structures or other cost-saving opportunities.
Will this service benefit my organization?
Most organizations can benefit from our services, but organizations that operate in multiple states or at multiple locations are best suited to these services.
How might we take advantage of deregulated energy markets to save on costs?
Many larger organizations tend to function without effective means of tracking disparate cost and usage data, especially if they are multi-state and multi-location organizations. This lack of accurate, current data can lead to an inability to quickly act on procurement opportunities brought about by the results of deregulated markets. A lack of solid data also makes it difficult to produce reports that explain how utility dollars are being spent.
How will a cost database help my business?
It is a challenge for most organizations to create and update a database of utility and/or telecom expenditures. We provide a comprehensive, easy-to-use database from which you can produce standard and customized reports to better evaluate, manage and budget your expenses.
What types of information can I extract from the database?
You can set up the system to automatically deliver reports, or you can create and save your own reports. The system has the flexibility to display information by site, region, vendor or time period. Every invoice is scanned and presented online as a PDF image. These images are available online for at least two years.
How secure is the database from outside intervention?
The proprietary billing system software features stringent security measures that protect the confidentiality of the data as well as the processes used to gather and store that data. Your authorized users can access utility data and reports via a secure, encrypted web portal. Authorized users have real-time access to the data in read-only format with no path to the underlying application. Changes made by authorized users are written to a log that records all transaction processing. The database is backed up nightly, and additional equipment has been installed at a remote location in case of a disaster or catastrophic system failure.
How much does this service cost?
Cost typically includes an initial set-up fee based on the number of accounts or utility meters. In addition there is a monthly processing fee based on the number of accounts or meters for which invoices are processed. Factors that affect pricing include the number and size of invoices, the chosen funding mechanism and the types and extent of services provided by Cost Control Associates.