Managing utility bills can be overwhelming, with complex processes, administrative challenges, and hidden costs. Vervantis offers a comprehensive solution to streamline your utility bill management, ensuring efficiency, accuracy, and cost savings.
A key aspect of effective utility bill management is understanding and reducing the costs associated with invoice processing. Industry research reveals that businesses spend on average from $16 (best scenario) to $40 (worst scenario) per invoice processed manually by internal teams. For companies handling thousands of utility invoices annually, these costs add up quickly, draining resources that could be allocated toward growth.
Comprehensive Utility Bill Management
Vervantis specializes in simplifying utility bill management by addressing every aspect of the process:
- Invoice Collection and Validation: Vervantis collects utility bills directly from suppliers, validating them against contractual terms and usage data to eliminate errors and overcharges.
- Timely Payments: By automating payments, Vervantis ensures that bills are paid on time, preventing late fees and service interruptions.
- Issue Resolution: Promptly solving invoice exceptions and providing account open & closing.
- Centralized Reporting: Detailed, audit-ready reports provide businesses with full visibility of utility expenses, making budgeting and forecasting seamless.
- Energy Insights: Facility benchmarking identifies high-energy users, enabling companies to target areas for efficiency improvements and reduce energy costs.
- Sustainability Monitoring: Vervantis integrates greenhouse gas emissions tracking for Scope 1 and Scope 2 sources, helping businesses meet their ESG goals.
Estimated Cost Savings
Using manual processes to manage utility bills in-house results in significant operational costs, including labor, errors, and late fees. By automating and streamlining the process, Vervantis can help businesses reduce invoice processing costs by as much as 60% (estimated values), bringing the cost per invoice down to approximately $6 on average and, in some cases, lower, depending on the number of accounts.
For example, if your business processes 5,000 utility invoices annually:
- Manual Processing Cost: $16 x 5,000 = $80.000
- Automated Processing with Vervantis: $6 x 5,000 = $30.000
This translates to a savings of $50.000 annually—a significant boost to your bottom line.
Additional Benefits
Beyond cost savings, Vervantis delivers value through enhanced operational efficiency and sustainability:
- Time Savings: Free your team from repetitive administrative tasks, allowing them to focus on strategic initiatives.
- Error Reduction: Automated validation ensures accurate billing, eliminating costly mistakes.
- Sustainability Perks: Reduce your environmental impact with carbon offsets for paper invoices and energy benchmarking tools.
Experience the Vervantis Advantage
Vervantis transforms utility bill management into a streamlined, cost-effective process. With automated systems, real-time reporting, and a commitment to sustainability, Vervantis empowers businesses to optimize their energy usage and reduce costs. Discover how much your business could save by switching to Vervantis for utility bill management. Contact us today for a personalized consultation and take the first step toward effortless utility management.
