Utility Expense Management Department
Utility Watch takes RadiusPoint’s Expense Management services to another level. With Utility Watch services, the RadiusPoint team will create a select number of reports that will identify those locations that are trending with higher usage than other locations of the same size. See below for the reporting and services that are included with Utility Watch.
- Monthly Utility Usage Ranking – to determine Top 10 locations that have the highest electric, gas or water usage
- Monthly Meter Usage Analysis – reports all locations meter usage, days of service, Demand multiplier, cost, etc.
- Monthly Budget versus Actual reporting – the team will identify those locations that are exceeding budget amounts. Assistance with setting budgets.
- Monthly Review of locations that can benefit from entering into a fixed rate supplier agreement for locations in deregulated markets.
- Monthly Review of new locations that can move to existing contracts
- Identify trash services that can move to a corporate contract
- Utility Deposit tracking and reporting
- Annual Budget review and assistance with creation during budget timing
- Carbon footprint reporting for EU requirements
- ENERGY STAR Benchmarking and Certification
- Utility data tracking
About ENERGY STAR:
Management of energy is good business because it strengthens the bottom line. In many sectors, well-run energy programs may reduce energy costs by 3 to 10 percent annually. By improving financial performance, superior energy practices can create a competitive edge.
Strong energy management is a strategic asset. Besides reflecting overall management acuity, it can be a sign of future profitability. Financial analysts and investment firms increasingly view the quality of energy management as an indicator of financial performance.
ENERGY STAR helps organizations evaluate their energy performance and reduce energy use. Organizations are encouraged to begin by benchmarking the performance of their properties. Properties that perform in the top 25% compared to their peers nationwide (for certain property types), are eligible to earn ENERGY STAR certification. Properties that earn ENERGY STAR certification consume about 35% less energy than their non-ENERGY STAR counterparts.
What RadiusPoint will do?
- Coordinate with clients Facilities Manager to obtain a master list of locations and square footage.
- Identify locations that could benefit with Energy Star certification.
- Site Comparison reporting upon request
- Monitor usage for fluctuation in energy use.
- Identify locations that could benefit from an Energy Consultant’s or PE (Professional Engineer) onsite visit for evaluation of current energy use including facility lighting and Air Conditioning efficiency.
- Assist in preparing necessary documentation for Energy Star certification.
Additional fees may apply for Energy Star or site visit but will be disclosed before proceeding with services.
The services above expand on your current Expense Management services by analyzing the invoices beyond what is included in the current services. The current Expense Management services allows for the invoices to have a limit set based on a tariff rate or contract rate for the monthly audit. The audit will identify any overages billed and will be reported by the Exceptions team. Limits can also be set based on usage amounts and any amounts billed over the limit will be researched by the Exceptions team. Errors are identified, researched and reported on the weekly Exceptions reporting.
RadiusPoint created the Utility Watch team to enhance the monthly expense management services. RadiusPoint realizes that many of our Client’s do not have the time it takes to efficiently manage the costs and usage of the many meters at their locations. Additionally, while the Business Intelligence reporting is available in RadiusPoint’s proprietary software, ExpenseLogic, most Client’s do not have the time to create the reports and analyze the data. This is where the Utility Watch team will provide your Utility Team with information and recommendations to save money.
Learn more about what RadiusPoint can do for your business.
Utility Expense Management (UEM)
Utility invoice processing and payment is a tedious, time-consuming, and expensive task for a large amount of enterprises, in fact, studies have shown that utility provider billing errors are as inevitable as the bills themselves. The most common error is billing at an incorrect rate. Companies understand that utilities account for more than 15% of an organizations budget, subtle rate changes (which often go unnoticed) can have substantial financial impact on the bottom line when multiplied over time and numerous locations. To eliminate the risk of costly errors, many companies are choosing to implement Utility Expense Management UEM Programs, which allows the billing department to focus on what they do best.
RadiusPoint manages the process from initial audit to vendor payment utilizing our ExpenseLogic software. ExpenseLogic sets parameters, contract rates and hunts for exceptions with every bill to identify leaks and other inefficiencies in the system. It provides an unparalleled approach to utility bill analysis that helps your business maximize value from your utility services going forward.
- Inventory of each meter number by location
- Type of service billed by kWh, therm, CCF or gallons
- Audit by contract or tariff unit cost
- Audit by client specified limits or percentage variance
- Inventory and reporting of deposit amount and release date
- Inventory capability for garbage i.e. size of container and number of pick up details
- Budget and forecasting reporting
- Trailing 12 month trend reporting
- Receipt and loading of all invoices into ExpenseLogic
- Provision of GL Interface file and Accrual file
- Expense Allocation
- Detailed breakdown by kWh, therm, CCS or gallon
- Tracking of usage
- Invoice Payment
- Rate negotiation and tariff compliance
- Continuous audit and error identification
- Error Reconciliation with vendor
- Dispute and Credit tracking
- Ongoing Coding changes/updates
- Document Imaging and Management
- Budget/Forecast reporting
RadiusPoint is a certified Energy Star Partner
Having been in business 25 years, RadiusPoint knows the amount of energy the average commercial building wastes. If nothing has been done to save energy at your building, chances are there is a lot of room to improve. It’s often possible to reduce energy bills by 10 percent with little or no cost. RadiusPoint can show your business some easy wins by starting with simple changes. Then our expert help can take you a step further to benchmark your energy consumption and maximize your energy savings, and boost your bottom line.
Managed Services Trash Case Study
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