Utility Bills contain valuable business operating data. This data can drive business decisions, from energy consumption insights for facility management to payment data essential for accounting and cost control. To make this data useful this data must be collected from the utility bills.
However, extracting and utilizing this data requires meticulous processing. For businesses handling high volumes of utility bills, managing this task in-house can be time-consuming and divert resources from core activities. That’s why many established companies opt for utility bill outsourcing.
By partnering with experts like ARDEM, businesses can streamline their utility bills processing, ensuring that valuable data is accurately captured and readily available for strategic use. In this blog, you’ll learn 5 reasons for outsourcing utility bill processing.
5 Reasons for Outsourcing Utility Bill Processing
1. We Receive Bills from Many Different Utility Companies
Each utility bill looks different. The terminology used at one utility company is often different from another utility company. Payment data is presented differently and called by different names. Understanding consumption data requires a college degree. Bills also come due for payment at different times during the month and many may require going to different utility sites to access the bill and then make payments. If it is only a few utility companies this is often manageable with in-house resources. If you have to process bills from many different utility companies a utility bill management company will yield more efficiency.
2. We have a Large Volume of Utility Bills to Process Every Month
You have a large count of bills from many different utility companies month after month. You do not want to invest in training your team to become proficient in reading and understanding the different bill formats. You would like to use a lot of the data available to you on the bill for your business. How do our utility costs compare to last month for this location? How about location in Ohio vs location in Virginia? And what about Energy Consumption? Rates we are paying? Utility bill processing companies such as ARDEM utilize man-machine technologies to efficiently collect all this data for you from large volume of bills month after month. Outsourcing utility bills processing to ARDEM saves you time in collecting all the data you need.
3. We need to get Correct Data
When utility bills come from many utility companies and are in different formats with different terminologies mistakes are bound to happen in transcribing the data. Similarly, when payments have to be made, or, energy consumption data has to be collected from many bills, mistakes may occur. Established businesses do not want this and turn to Utility Bill Outsourcing service providers such as ARDEM to extract data with 100% accuracy.
4. We need our Payments to be made On-Time
Utility Bills are received at different times during the month. They are due for payment at different times of the month. These payment dates should not be missed. When managing large number of service locations other tasks such as account opening, or, closing also need to be performed with time constraints. A utility bill management company such as ARDEM provides the management to assure all such tasks are completed on-time. Utility bill outsourcing with ARDEM ensures that all the payments are made on-time.
5. Need Someone to manage the Whole Process
Large count of Utility Bills. Bills from many different utility companies. Some bills coming in as paper via mail. Other bills coming as email attachments. Still others which requires us to go to each utility company site and access the utility bill. And a few also come via EDI or as spreadsheets. The data on different bills is in different units and to make any sense needs to be normalized first. Also, the different utility companies use different terminologies- one calls it Demand Charges, another calls it use Charges to refer to the same. Outsourcing utility bill processing to an experienced provider can streamline the entire process, ensuring that all bills—no matter the format or terminology—are accurately captured, normalized, and processed efficiently.
ARDEM provides automation and outsourcing services to Established Companies to Improve their operational efficiency and help them Reduce Costs. For more on Utility Bill Outsourcing, reach out to us.
