Boosting efficiency through centralized billing
Explore how a centralized utility bill management program can cut billing errors, reduce late fees and efficiently collect energy data. For a large automotive manufacturer, moving to a more streamlined process resulted in more than $30,000 in savings.
Streamlined Accounting Processes Make a World of Difference: Industrial and commercial companies often have facilities spread across several states, with corporate offices typically hundreds of miles away. At these companies, each site is responsible for paying invoices, particularly energy bills. With so many payers and sites, the potential for accounting-related errors is high. Centralizing the bill payment process can minimize billing errors, and promote efficiency and energy cost management.
A large automotive manufacturer partnered with Summit Energy to manage its growing number of energy bills. At the time, the company was decentralized, and each site paid its own energy bills using various accounting methods. The bill payment process was slow, inefficient and rife with errors and late fees.
In order to streamline the automaker’s accounting processes, Summit recommended a Utility Bill Management (UBM) program. Summit’s UBM team analyzed the manufacturer’s needs and directed the company to the best program for their situation. Summit then led the company through the transition from a decentralized to a centralized bill management system.
The auto manufacturer reaped a number of benefits from the new centralized system. Paying bills became more efficient, billing errors were reduced and late fees were avoided. In just the first year, the company saved more than $30,000 in late fees alone.