Multi-site companies with 100 or more locations generate a lot of bills for their accounts payable teams to manage. With the large volume of bills pouring in, it often means that utility bills get treated just like any other bill…but they are not. Utility bills are complex. Unlike other payables, utility bills typically lack purchase orders, require manual GL mapping, and vary greatly from one provider to the next, with varying bill systems, bill periods, and bill level detail. These factors add up to a time consuming, resource intensive payable, and simply paying the bills isn’t enough.
Effective utility bill processing and data management are needed to identify billing errors, including those caused by estimated bills, overlapping service dates, incorrect meter reads, and more.
While internal accounts payable teams are fully capable of managing most payables, utility bills often have a short payment cycle, and it is extremely time consuming to audit and reconcile billing errors. We invite you to take this short interactive assessment to calculate the cost of managing your utility bills in-house.