Historically, processing utility bills were not given much thought. In fact, it was largely perceived as a cost of doing business with your provider and there was little one could do to manage this expense. Today, utility bills are a significant expense for most businesses and managing them can be a time-consuming, complex and resource heavy process. As organizations look to reduce costs and keep a closer eye on expenditures, as well as becoming more energy efficient, automating utility bill data acquisition, processing, approval, and payment through a software platform can help streamline this process and improve overall efficiency.

Here are some of the key benefits of automating utility bill management:

Increased Efficiency: Automating utility bill management can significantly reduce the time and effort required to manage utility bills. The software platform can automatically retrieve utility bills from various providers, process them, and submit for approval and payment. This can free up staff time to focus on other important tasks and reduce the risk of errors and delays.

Improved Accuracy: Manual data entry can lead to errors and discrepancies in utility bill data, which can be costly for businesses. With a software platform, utility bills are automatically extracted and processed, reducing the risk of errors, and ensuring that data is accurate.

Better Visibility: Automating utility bill management can provide better visibility into utility usage and costs across multiple locations. The platform can generate reports that help identify areas of high usage and provide insights into where cost savings can be achieved.

Increased Cost Savings: Automating utility bill management can lead to significant cost savings. The platform can identify billing errors and discrepancies and provide you with data that can allow you to negotiate better rates with utility providers and optimize energy usage to reduce overall costs.

Simplified Payment Process: Automating utility bill management can simplify the payment process by automating payments and providing a central location for managing utility bills. This can reduce the risk of late payments and improve cash flow management.

In summary, automating utility bill data acquisition, processing, approval, and payment through a software platform can provide significant benefits for businesses. It can increase efficiency, improve accuracy, provide better visibility into utility usage and costs, increase cost savings, and simplify the payment process. By leveraging technology to automate utility bill management, businesses can save time, reduce costs, and improve overall operational efficiency.

It is smart business to have a growth mindset, it is smart business to set goals, it is also smart business to take advantage of “low-hanging fruit” cost savings opportunities. Utility bill management is one, and it is easily available though CWE’s Utility Bill Administration solution. CWE’s UBA program is flexible, powerful and will seamlessly integrate with your existing utilities, energy suppliers and facility vendor applications. Its execution will save you time and allow you to redirect much needed capital. Let us walk you through a demo and see what a partnership with CWE can do for your organization.