Are you plagued by disconnects, late fees and billing errors as you juggle thousands of utility bills?
Keeping track of and paying these utility bills can be a real hassle -- and a real cost to your business.
American Utility Management can help. Our in-house Invoice Processing and Payment platform will save you time and money. We capture data from every utility invoice line item and we use an extensive validation system to ensure its accuracy. You'll get predictable cash flow through timely payables and accurate accounting. We’ll design a solution for your business that provides:
- Comprehensive data capture, validation and analysis of invoices
- Flexible invoice funding and payment options
- Reduced late fees and disconnects with our automated missing invoice system
- Alerts for cost and usage variances for all utilities
- Customized accrual reporting with a choice of calculation methods
- Accounts payable interfacing that integrates with your management software
- Financial and budget reporting to help your decision making
Comprehensive Data Capture, Validation and Analysis of Invoices
AUM has captured over 1 billion data points from utility invoices. We capture data from all line items including house account data, line item expenses, meters and rates. Our software platform has an extensive validation process with 16 checks and balances to ensure industry leading accuracy of 99.99%. If any data point fails inspection, the invoice is passed to a dedicated review team for investigation and correction. Our refined validation process ensures greater transparency into utility performance, higher quality data and reduced late fees and duplicate payments.
Invoice Funding and Payment Options
Because every business operation is different, we offer our clients two invoice payment options to integrate with their accounting processes. With both options, AUM receives the invoices on your behalf, validates the data, and captures every line item expense and meter data point into a secure database.
- AUM Pays - AUM sends you a request to transfer funds or an approval to make payments from your bank account. Once approved and funded, AUM makes individual payments to the utility providers.
- Client Pays – AUM loads the expense data into your payables software and then you pay based on your cash flow controls.
Automated Missing Invoice System
A critical component of effectively managing your utility invoices is predicting when each invoice will be received, when it is due and the invoice amount. American Utility Management’s automated missing invoice process identifies invoices that are delayed or missing so our dedicated team can work with the provider to ensure delivery. This saves you time and money on research, late fees, accrual calculations and disconnects.
Alerts for Cost and Usage Variances
We offer 14 different cost and usage-based alerts for you to choose from. We provide these automated alerts so you know when and where your utilities spike. You decide on acceptable thresholds for electric, gas and water. If cost or usage for any utility or GL account is above or below that threshold, our software automatically triggers alerts. And with Variance Research and Resolution, we work with your utility provider to investigate and fix the problem for you.
Customized Accrual Reporting
You get access to our industry-first, automated accrual process and general ledger reporting. You'll be able to better manage cash-flow, streamline close processes and provide financial transparency to your accounting team. We offer multiple methods of accrual calculation to ensure consistency with your accounting practices.