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If you spend more than about $1 million a year on energy, your potential savings are big enough to make this worth your time.

If you operate more than about 20 stores, your energy-management challenges are complex enough that you’ll welcome these ideas, specifically aimed at multisite retailers.

Utility Bill Processing (UBP) Product Features

Eliminate the time and cost associated with manually entering utility bill data into your current system. UBP can automatically capture required information from scanned invoices and present the data in a common format within Verisae’s web based application.

Improved Visibility and Functionality for Accounting Staff Consolidating of all bills in one location makes for easy review of stores and their energy budgets and eliminates manual entry of bills into the accounts payable solution.

Reduce Costs by Eliminating Billing Errors and Late Fees Implementation of the UBP typically results in cost avoidance of 3-5% of a companies’ utility spend. This is achieved through comprehensive exception management to catch duplicate bills and over billings as well and a sophisticated work flow management process that ensures bills are verified and paid on time, reducing costly late fees.

Elimination of Late Fees

UBP uses the missing-bill report and a workflow tracking process to ensure that bills are tracked based upon anticipated dates. This process is also used to follow-up with the utility companies to ensure that bills are paid on time and without any late-fees.

Tariff and Rate Analysis

It is critical that both corporate and individual sites are on the proper utility tariff and paying the correct rate when it comes to their utility expenses. The UBP solution can be configured to automatically alert users when a utility bill arrives with a different rate code than expected. In addition, there are various exception and variance reports that can be used by customers to identify changes to associated tariffs and rates.

Automatically Captures Scope 1 and Scope 2 Emissions

All indirect emissions associated with purchased electricity can be captured from the electricity bills and all on-site combustion emissions can be captured from your gas bills. This data can be automatically transferred to the Verisae EET (Enterprise Emissions Tracking) module for real time emissions tracking and carbon footprint calculation.

Historical Billing Analysis

Once the data is loaded into the application, customers and/or Verisae will be able to identify refunds from over billings, find applicable credits and uncover future savings by:

  • Running variance and exception reports to identify billing anomalies
  • Comparing across utility providers respective rate tariffs
  • Comparing usage, load factor, unit-price and assigned rate name
  • Investigating utility provider’s with unusually high costs
  • Document / verify any over-billings
  • Determine if assigned deregulated contract rate has been applied correctly in the past

Consolidated Reporting and Control for Budgeting

Budgets can be established for each store or region and tracked against monthly performance. At a glance you’ll be able to see stores under or over budget, allowing you to make better decisions about the amount of capital or expense money available for future projects. You can project the electric and gas costs based on future weather conditions using our system.

Accounts Payable Integration

The UBP solution uses the UBP web-interface to present all utility bill data. All bill images and bill reporting capabilities are integrated into Verisae’s UBP solution. Actual utility bill data is transmitted and uploaded to the web-interface, within 24 hours of the utility bills received at the scanning center. Customers have the option to maintain the payment responsibility, or work with Verisae to pay the bills on their behalf.

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