Utility Expense Management Services
Generate Savings on Cost & Resources
Under our Utility Expense Management (UEM) services, we track all the utility bills of your organization from the moment a service order is placed, through verification of service establishment, cost allocation, invoice auditing, billing error correction & elimination, and finally, on-time bill payment. The process results in tighter cost control, actionable business intelligence, hard & soft cost savings, as well as avoidance of service interruptions. Using our SaaS platform ExpenseLogic®, we give our clients’ management teams a clear dashboard of energy usage data across locations.
- Manages the entire lifecycle of the utility invoice, from receipt to payment
- Places order for new services or disconnects existing vendor services
- Automates consumption cost allocation to the right location and cost center
- Performs energy management optimization for cost avoidance & energy savings
With the ExpenseLogic™ software, our UEM services generate savings on costs & resources for our clients.
Benefits
Energy regulations, ambiguous utility invoice data, and ever-changing weather conditions make it significantly difficult for companies to manage this vital component of their activity. Our experts in UEM and Energy Management Services (EMS) help organizations save labor time and costs by managing the entire invoice processing line, from receipt of monthly invoices and line-item audits, all the way to vendor payment. Relying on our ExpenseLogic™ software platform, combination algorithms, and the technical expertise of our team of problem solvers, we search for hidden errors, locate potential leaks before they become an issue, and obtain recredits from vendors.
ExpenseLogic offers robust reporting functions tailoring reporting to a client organization’s needs: weather normalization, utility benchmarking, carbon emission, CO2 reporting, or industry-specific reporting such as Vacant Cost Recovery. Our proprietary SaaS platform creates business intelligence that meets your needs.
- Automation of invoice processing saves labor time & costs
- Efficient data capture helps generate valuable business intelligence
- Procurement optimization in deregulated states saves on energy costs
- Line-item audits by meter helps pinpointing overages and optimize consumption
Utility Expense Management
Utility Billing Management Through the Lifecycle of all Invoices
Utility Invoice Reception & Input
Receiving the invoice is the first step to be managed along the Utility Invoice Management and Utility Bill Pay process. The invoice information is then entered with kWh, terms, and gallons for future reporting. The full lifecycle ends with vendor payment and cloud-based imaging of invoices for future recall and review.
Invoice Audit & Error Rectification
Monthly line-item audits ensure vendors’ invoices are correct—or disputed when they are not. The level of invoice details enables quick review and optimization to save our client organizations money. Our team of experts provides your company with a monthly utility billing analysis that ensures utility services are billed correctly.
Usage Tracking & Cost Allocation
Through usage management, RadiusPoint ensures kWh, therms, CCF and gallons are accurately reported, analyzed, and—when possible—optimized. We track usage based on the individual number of each meter, which allows us to allocate monthly invoice costs to the correct cost centers and locations. Our clients’ teams can view site equipment at location level, by serial number.
Reporting & Analytics
Big data-type analysis allows internal reporting and government-regulated requirements that need to be met. Meter read usage and service dates ensure very accurate reporting in conjunction with the Usage Analysis, CO2 or Weather Normalization reporting functions of ExpenseLogic, or when viewing the Exceptions for cost overages.
Why Choose our Utility Expense Management (UEM) or Energy Management Services (EMS)?
RadiusPoint’s technology and 30-year expertise continuously evolve to meet the data analysis and reporting needs of each of our clients, whether it is benchmarking or vacant cost recovery. By way of example, clients in the property management industry needed specific reporting identifying move-in/move-out timing, as well as vacant cost recovery. Our team of software experts rose to the challenge and created a VCR reporting function within our SaaS platform ExpenseLogic.
Utility Benchmarking
Task Automation
Reporting Analytics
Two of our clients discuss the greatest benefits their organizations have received from RadiusPoint, in terms of reductions in labor time and costs, the general level of service, and customization of services to our client’s needs.
What does our EEM service include?
Global Leadership
RadiusPoint is a recognized global leader in UEM and EEM services, providing a technology-based software platform and process-driven solution for reducing costs and managing efficiencies.
The RadiusPoint Mission
Our mission is to automate the processing of our clients’ monthly utility bills, so that their managers not only have access to real-time visibility and operational intelligence but also achieve cost savings through energy optimization.
Expert Energy Guidance
The automated utility bill analysis provided to our clients gives them the expertise and guidance they need to manage energy procurement more efficiently. Our Energy Help Desk provides Utility Provisioning that covers the full lifecycle of services, from establishment to installation. All the while saving companies time and money.
Accounts Payable
- Allocation
- Accrual Files
- Comparable to Peoplesoft, Great Plains, etc.
Wireless Management
- Device Detail Storage
- Line Contract Detail and Audit
- Email Reports
Asset Management
- Storage of Assets
- Identification by Serial Number
- Interface with HR Employee ID
Contract Management
- Image Storage
- Terms and Conditions Retention
- Comparable to ContractWorks, ContractSafe, etc.
Reporting Analytics
- Audit Analysis
- Budget Reporting
- Comparison Reporting
Mac Ticket System
- Client Defined Portal
- Approval Process by User Group
- Comparable to Service Now, Start Ticket, etc.
Expense Audit
- Line Item Detail Audit
- Contract Compliance
- Dispute Tracking
Document Management
- Image Storage by Account, Invoice Number, etc.
- Permissions-Based Image Recall
- Elimination of Paper
Role of Utility Expense Management in Enhancing Sustainability
The Crucial Role of Utility Expense Management (UEM) in Enhancing Sustainability In the pursuit of a more sustainable future, businesses and organizations are increasingly turning their attention to the management of utility expenses. Energy, water, and other utility costs not only impact the bottom line but also have significant environmental implications. By implementing effective utility […]Read More
UEM Collaboration Saves Over $1 Million
UEM Collaboration Saves National Home Builder Over $1 Million RadiusPoint recently collaborated with a national home builder to simplify the process of utility ordering and ensuring installations for more than 5,000 new home projects yearly. During this collaboration, RadiusPoint uncovered monthly billing exceeding $25,000 for homes sold two years earlier and identified over $100,000 in […]Read More
Streamlining UEM Operations with Expense Management Software
Streamlining Operations: The Role of Expense Management Software in Utility Expense Management In today’s dynamic business environment, where every penny counts, efficient expense management is paramount. One often underestimated aspect of this financial jigsaw is Utility Expense Management (UEM). Fortunately, the advent of technology has given rise to powerful tools, with expense management software leading […]Read More
