What is Utility Bill Management Software?

What is Utility Bill Management Software?

As a business owner, energy can be one of the most expensive operating expenses. Complicating the matter, managing multiple locations and accounting for different utilities with different suppliers can make managing your energy bills even more difficult without the right knowledge and tools. But rather than being reactive to utility invoices, your business can become more proactive in rooting out inefficiencies at your organization and finding better opportunities in the market to save money with utility bill management software.

That’s why Albireo created UtilityModule (UM) to help businesses manage their energy bills and become more proactive in their energy management strategy.

Why Utility Bill Management Software is Important

For organizations to have an effective energy strategy, they need to monitor and understand their energy costs across their entire organization. Doing so allows businesses to optimize their organization by reducing inefficiencies, as well as seeking better pricing for utilities which operate in deregulated markets, such as electricity and natural gas.

Beyond this, energy management is just downright complicated. Utility bills contain a huge amount of data and technical terms that can be hard to parse and organize. Multiply this by dozens of utility bills over a few years and creating baselines for efficiency can be almost impossible.

With utility bill management software, you can store all of your utility bill data in one place and have access to historical data that can assist in creating averages for budgets. Furthermore, with Albireo’s software, you can automatically create accurate budgets that not only help you manage your expenses but also save time.

UtilityModule: Utility Bill Management Software

Albireo’s utility bill management software, Utility Module, helps organizations collect, store, analyze, and validate utility invoices for electricity and natural gas.

UtilityModule’s features include:

  • Budget Creation – Create budgets for the following year based on normalized weather averages and other proprietary insights
  • Budget Tracking – Compare usage and cost against prepared budgets to track whether the allocation is over or under
  • Expenses – Track the cost of utilities – electric, natural gas, steam, water, and sewer
  • Notifications –  Create notifications if energy usage or cost extends above a pre-defined threshold
  • Contract Management –  View and take actions on supplier contracts
  • Invoice Management  – View supplier invoices and store data
  • Benchmarking – Comply with the EPA energy benchmarking requirements in cities like Washington D.C., New York, Boston, Cambridge, Philadelphia

Next Level Utility Bill Management Software

The big difference between UM and other utility bill management software is that we focus on insights, not just data. While collecting and storing utility data is important, at this point, it is simply a commodity. The real value in collecting data is the analysis and validation of the data.

UM does this for our customers by providing proprietary tools for understanding their energy usage and cost. Through UM’s analysis, our software helps to translate the data into meaningful insights that will help you to understand your energy usage once and for all.

Learn More

Businesses should invest in a robust energy bill management system if they want to reduce their utility expenses and become leaner. UtilityModule is designed to help business owners not only track their energy expenses but discover ways to reduce inefficiencies and save money. For more information about UtilityModule or to request a demo, contact us today!