Utility Expense Management – It’s All In The Data

Partnering with Banyan on your utility expense management goes far beyond having our company pay your utility bills. We chose to partner with Cass on this service due to their proprietary technology and expertise on paying more than $6B worth of invoices per year. Invoices are processed, audited, and ready for payment in less than 24 hours. 

The efficiency gained in your AP department is significant; less cost to process and pay bills, more time to focus on core competencies, late fee avoidance, no duplicate payments, and less cost to process and pay bills. 

However, the most profound value is in the data.  

CASS provides abundant opportunities to penetrate your data and access your expenses by commodity type, building, vendor, general ledger code, cost KPIs, high-use alerts, benchmarking statistics, and variance anomalies down to a meter level. You can view this from a portfolio to a community level on customized dashboards with unlimited users. Everyone in your company has access to information to help you control your energy use.

What if you could apply utility data analytics to detect cost and consumption abnormalities across your portfolio?

Track It

By tracking your utility expenses in CASS, you will create a foundation for utility data analytics critical for effective energy management. This groundwork will enable you to leverage your utility data by giving you access to analytics-driven insights that help you identify irregularities and provide all stakeholders in your organization with the information they need to investigate, track, and resolve issues.  

Use It

This data will empower your management teams to develop accurate budgets and forecasting based on use and rate. You will also be able to do a deep dive variance analysis that can isolate the core cause down to the meter level, so you can make your systems more efficient or resolve a billing error with the provider. Lastly, benchmarking and building comparisons can be delivered in customized reporting so your team can utilize the data for compliance purposes and increase energy efficiency in your portfolio.

Automate It

The automation of data capture from utilities, customized AP upload into your general ledger, bill pay to your providers, and a robust set of tools to review that data minimizes the effort required to manage your utility expenses and realize savings through efficient management of your portfolio.

Lower Utility Costs

With this foundation in place, you will be able to methodically evaluate utility data for irregularities and variances and take corrective action to help you minimize utility costs.

Manage What Matters

The data you capture from utility expense management allows you to focus on cost reduction and effective asset management. Structured utility data identifies potential areas of focus and isolates the root cause of expense issues. That is the real value of utility data – helping your team effectively manage your assets at peak efficiency.