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Finance & AccountingUtility Bill Processing

How Smart Companies are Using Utility Bill Data in their Financial Decision Making

By June 10, 2022March 14th, 2024No Comments
utility bill data financial descision outsourcing blog

Streamlined and automated collection, validation, reporting, and payment results in optimized utility bill processes that can deliver better data quality and more transparency to accounts payable. Improved visibility into utility costs and consumption with automated utility bill processing helps companies evaluate and prioritize cost-saving initiatives. Utility managers in the companies can summarize and pivot utility bill data to identify cost reduction opportunities and make financial decisions.

Here is how Utility Bill Data helps in Financial Decision Making

Correct Data

Utility bill automation allows companies to collect real-time data, which adds a crucial layer of efficiency to the utility bill management process. It helps companies to make faster decisions. 

  • Optimize rates and tariffs
    Reporting usage and demand charges help companies identify sites that may qualify for more favorable utility rates and tariffs and significantly reduce expenses.  
  • Adjust load shifting and equipment
    Additionally, companies can identify load shifting or upgrade opportunities. Companies can find sites with the highest demand charges, penalties, or volume abnormalities. Companies will consider adjusting equipment if there are requirements for improved equipment. It comes with significant savings potential.
  • Adjust operational schedules
    Companies can adjust operational schedules and reallocate staff time to save money. Effective utility processing can help companies compare bills from last month, energy consumption, and rates they are paying in order to make adjustments.

Utility Bill Management Solution with Outsourcing Partner

Most companies use utility bill management services to manage utility bill processing and analyze the large sets of utility data collected. Utility management solutions offer a centralized data platform that gives validated data that can be utilized to make financial decisions at the right time. There is a high potential to save on utility costs with the right approach like automation. 

Outsourcing Utility Bill Data Processing helps companies in getting the correct data. Companies have utility bills in different formats with different terminologies, such as demand charges and charges. If there are transcribing mistakes during data processing. To have accurate data and more insights into the business, most established companies prefer experienced Utility Bill Outsourcing service providers. You outsource to ARDEM, ranked#1 twice for their data entry service.

Companies need to use a lot of the data available on utility bills. Technology-based workflow can process huge utility bills every month with high accuracy. Most companies avoid training expenditures to build in-house proficient teams and prefer and opt for outsourcing to leading BPO services companies, like ARDEM. 

Also, utility bills are set for every month, but at different times, so utility payments are due at different times every month. Companies need to manage various service locations. Outsourcing service providers offer well-managed services, including utility bill data entry, to assure timely utility data processing and payments. Companies can utilize ARDEM Utility Manager. It is a collaboration platform that helps companies connect all their locations through a single platform. They can access improved visibility. Utility data is extracted accurately and used to estimate usage.  

ARDEM provides Business Process Outsourcing and Business Process Automation Services to established companies to help them improve operational Efficiency and Reduce Costs. For more information, please reach out to us at or call us at 908-359-2600.