What Your Utility Company Isn t Telling You. Presented by Eric Bjornn, Director of ResidentUtility TM, Entrata

Size: px

Start display at page:

Download "What Your Utility Company Isn t Telling You. Presented by Eric Bjornn, Director of ResidentUtility TM, Entrata"

Beverly Banks
7 years ago
Views:

2 What Your Utility Company Isn t Telling You Presented by Eric Bjornn, Director of ResidentUtility TM, Entrata 2

3 Convergent Billing Workflow Overview of the ResidentUtility billing process without the Utility Expense Management product. 3

4 ResidentUtility Convergent Billing DATA COLLECTION DATA ENTRY RESIDENT UTILITY CONVERGENT BILLING PRE-BILL 4

5 ResidentUtility Convergent Billing: Data Collection DATA COLLECTION DATA ENTRY RESIDENT UTILITY CONVERGENT BILLING PRE-BILL 5

6 ResidentUtility Convergent Billing: Data Collection 6

7 ResidentUtility Convergent Billing: Data Entry DATA COLLECTION DATA ENTRY RESIDENT UTILITY CONVERGENT BILLING PRE-BILL 7

8 ResidentUtility Convergent Billing: Pre-Bill DATA COLLECTION DATA ENTRY RESIDENT UTILITY CONVERGENT BILLING PRE-BILL 8

9 ResidentUtility Convergent Billing: Pre-Bill 9

10 ResidentUtility Convergent Billing: Convergent Bill DATA COLLECTION DATA ENTRY RESIDENT UTILITY CONVERGENT BILLING PRE-BILL 10

11 ResidentUtility Convergent Billing: Convergent Bill 11

12 Questions to Consider 1. What are the problems with having our site or AP staff manage utility bill collection and processing? 2. Who is looking at the data on our utility bills? 12

13 Overcharges 1. Billions of dollars are overcharged every year by utility providers. 2. Dominion overcharged customers $123 million from Property management companies spend, on average, $150,000 on utility charges each year. Reference: 13

Property management companies spend, on average, $150,000 on utility charges each

14 Overcharges There are two types of property management companies: ones that are being overbilled for utility charges, and ones that don t know it yet. 14

15 Utility Expense Management Improve your convergent billing with Utility Expense Management. 1 5

16 Utility Expense Management DATA COLLECTION DATA ENTRY REPORTS UTILITY MANAGEMENT AUDITS AP SYSTEM 16

17 Utility Expense Management: Data Collection DATA COLLECTION DATA ENTRY REPORTS UTILITY MANAGEMENT AUDITS AP SYSTEM 17

18 Utility Expense Management: Data Entry DATA COLLECTION DATA ENTRY REPORTS UTILITY MANAGEMENT AUDITS AP SYSTEM 18

19 Utility Expense Management: Data Entry 38% of all utility bills have mistakes 19

20 Utility Expense Management: Audits DATA COLLECTION DATA ENTRY REPORTS UTILITY MANAGEMENT AUDITS AP SYSTEM 20

21 Utility Expense Management: Audits Service Period for Account Previous Balance Abnormal Due Date Estimate Bill Zero Consumption Rate Change Usage Misread Billing Cycle Day Difference New Line Item Multiple Bills in Same Billing Period Invoice Number Duplicate Bill Cycle Overlap Missing Line Item Consumption Gap Bill End Date Beyond Bill Date Late Fee Credit Data Different While Reprocessing 21

22 Utility Expense Management: Audits 22

23 Utility Expense Management: Audits 23

24 Utility Expense Management: Audits 24

25 Utility Expense Management: Audits 25

26 Utility Expense Management: AP System DATA COLLECTION DATA ENTRY REPORTS UTILITY MANAGEMENT AUDITS AP SYSTEM 26

27 Utility Expense Management: Reports DATA COLLECTION DATA ENTRY REPORTS UTILITY MANAGEMENT AUDITS AP SYSTEM 27

28 Utility Expense Management: Reports 28

29 Utility Expense Management: Reports 29

30 Utility Expense Management: Reports 30

31 Merging Workflows Take advantage of the platform that merges the two workflows together. 3 1

32 Merging Convergent Billing with Utility Expense Management DATA COLLECTION DATA ENTRY REPORTS UTILITY MANAGEMENT AUDITS CONVERGENT BILL AP SYSTEM PRE-BILL 32

33 Takeaways 1. Frees up time for your AP staff. 2. Avoid late fees and disconnects. 3. Reduces the cost of processing invoices by up to 75%. 4. Improves data accuracy and recapture rates on convergent billing. 5. Ensures your utility companies are billing you correctly through audits, and provides actionable utility data through reporting. 33

34 Why Entrata? 3 4

35 Q & A Take this opportunity to ask questions to our presenters and panelists. 3 5

36 Want More? Come visit us in the User Lab! Connect with us: Eric Bjornn Chandler Smoot x

37 Summit Feedback Text Entrata to to join the session. Reply with any feedback. You can also visit pollev.com/entrata 3 7