Utility Expense Management Services UEM2023-01-11T06:00:45-05:00

Benefits of our Services in
Utility Expense Management
& Energy Expense Management

Under our Utility Expense Management 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. 

UEM is major component of our BPO service portfolio. Our team:

  • Manages the entire lifecycle of the utility invoice, from receipt to payment

  • Places order for new services, or disconnect existing vendor services

  • Automates consumption cost allocation to the right location and cost center

  • Performs energy management optimization for cost avoidance & energy savings

In the context of Utility Expense Management Services, meters are reviewed for utility bill auditing, Error Detection & Rectification, Cost Allocation, and Cost Savings

With the ExpenseLogic™ software, our Utility Expense Management 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 Utility Expense Management (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, line-item audit, all the way to vendor payment. Relying on our ExpenseLogic™ software platform, combination algorithms, and the technical expertise 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, therms, 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 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 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 needs to be met. Meter read usage and service dates ensure a 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.

Click on the button below to find additional information about our facilities benchmarking capabilities:

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, general level of service, and customization of services to our clients’ needs.

What is Energy Expense Management | EEM?

RadiusPoint is a recognized global leader in Utility and Energy Management (UEM) services, providing a technology-based software platform and process-driven solution for reducing costs and managing efficiencies.

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.

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.

Additional references:
https://en.wikipedia.org/wiki/Expense_management
https://en.wikipedia.org/wiki/Utility_bill_audit

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