What is Utility Bill Management (UBM)?

Utility Bill Management (UBM) is the process of streamlining utility bill collection, processing, and payment, designed  in particular for business clients with many different Points of Delivery (PODs) and, more generally, with many branches or offices in a national territory and/or abroad. Utility Bill Management is therefore a premium service that enables clients to optimize the management not only of their energy invoices but also of those for gas, water, and sanitation, in a clear shift away from the use of calculation sheets, with benefits that go beyond the time saved for the management of the utility bills. In fact, using a digital platform enables the analysis and comparison of invoices and the speedy production of reports featuring clear explanatory graphics. The result is a precise evaluation of consumption levels that can facilitate future decision-making, thanks also to specialized forecasting tools. In terms of environmental sustainability, Utility Bill Management can also calculate the impact of energy consumption in terms of CO2 emissions.

What constitutes a utility bill?

A utility bill is a monthly statement of how much a household or business owes the provider for essential services (for example, electricity, water or gas). These charges can be broken down into various components itemized on the monthly bill, such as energy consumption, environmental fees, VAT charges or tax, transmission and distribution charges, other costs (such as storage costs), and wholesale energy and supply costs.

How can your business benefit from Utility Bill Management?

  • Any office manager or accounts payable staffer who has ever paid a late fee for a mislaid utility bill knows the downside of poor Utility Bill Management (UBM). The average business often has to keep track of multiple utility bills across several sites, increasing the risk of human error. Moreover, utility bills usually reflect consumption and pricing data that is already a month old, reducing the opportunity to troubleshoot issues onsite or negotiate a better rate. As your company grows and adds branches, office space or production facilities, the time and effort needed for utility bill management grows along with it. Imagine if all your company’s utility bills were in one place. Digitized Utility Bill Management benefits simplify the processing of utility bills by centralizing the data to give you a clear overall picture on cost, usage, and emissions from your energy consumption to understand and manage each and every utility bill. Here are some of the ways that utility expense management can deliver benefits for your business:Save money by detecting unnecessary costs, errors, and avoiding late fees
  • Spend less time on tracking separate utility bills from various sites and providers.
  • Simplify payment process by centralizing all utility bills into one database on a single platform.
  • A data-based process leads to better decision making, by providing centralized data needed for portfolio-wide cost drivers, sustainability reporting, and meter data.

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