Mar 22, 2018 | Trends, Technology

5 Reasons Why Businesses Should Invest in Energy Management Software Solutions

Brokers’ customers are often looking for ways to improve their corporate sustainability or just reduce their energy costs. What many of them don’t realize is that they need to implement energy management software solutions. With rising consumer demand for companies that practice sustainability, the investment into energy efficiencies is a no brainer.

While it is wise to implement energy efficient programs, they’re ineffective without the software tools required to manage and track the data of these investments. Energy analytics allow you to extract valuable energy data that can be used to evaluate the performance and cost-savings of your investments. Ultimately, energy management software makes it easier to implement these energy efficiency programs.

The Benefits of Energy Management Software Solutions

If your customers are looking for ways to cut back on spending, reduce consumption or improve sustainability, energy management software solutions area must-have.  Most industries are investing in energy dashboards to help them uncover problems with their consumption and spending, as well as implement changes that save them money. We’ve designed a number of energy management solutions, including UtilityModule and the Supplier Admin Portal.

Why Invest in Energy Management Software Solutions?

1. Energy Savings and Cost Reduction

Energy management software allows you to extrapolate data related to your energy usage and costs to provide a broad context of trends related to this data. This alerts you to whether you are paying too much for energy or if there are ways to reduce consumption and costs. Using applications like UtilityModule, you’ll be able to compare different energy variables month-by-month to see where costs are rising or falling as a result of specific changes.

2. Budget Creation / Better Spending

Equipped with this data, companies can track this data against their monthly budgets to see whether they are paying more or less than their allotted budget. Using past invoices and other historical trends, brokers and businesses can work together to produce an accurate budget that’s reflective of the customers’ energy needs, as well as external market variables, such as weather and regulations.

3. Compliance

Speaking of regulations, energy is one of the most regulated industry in the United States. Many cities have instituted benchmarking laws as a way to reduce carbon emissions of commercial properties. Using an energy management solution, businesses can automate data entry to meet compliance with EPA’s Portfolio Manager.

4. Sustainability / ROI

By achieving cost-savings and meeting compliance requirements, energy management software can slowly pay for itself over time. It also promotes sustainability as businesses discover ways to reduce energy spend and reduce consumption.

5. Corporate Responsibility

Anything that saves money leaves you with more money. This much is obvious, but cutting back on energy consumption isn’t the only thing that will help you generate more revenue. By promoting greater corporate responsibility through smart energy practices, you have the opportunity to reach more customers with a high demand for eco-friendly practices to increase your profits.

The Takeaway

Help your customers make sound decisions and be more proactive in the energy efficiency space by providing state-of-the-art tools for energy management. Such tools provide them with real time insights into their businesses’ energy consumption patterns and spending to help them discover ways to save money. This also enables them to create more accurate budgets, which can be used to invest in other energy efficient technologies.

News You May Like

Hand holding a lightbulb with coins inside.

10 Mind-Blowing Energy Efficiency Actions for Data Centers

Hand with energy icons appearing from fingers

Turn Energy Usage and Building Data into Actionable Items