Electricity
Overview
Electricity is one of the largest contributors to operational costs for businesses—especially when it comes to overall energy consumption. Back in 1979, electricity accounted for just 38% of business energy use. By 2003, that number had jumped to 55%, and it has continued to rise with the growing reliance on technology, automation, and climate control systems. Today, electricity often makes up the largest share of utility expenses for commercial operations, highlighting the need for companies to adopt energy-efficient strategies and smarter energy management to reduce costs and stay competitive.
Our electricity audit process starts with a simple initial data set request from our team, which is comprised of invoices and related contracts.
The team of auditors then takes over the process entirely and commences communications with the utility provider(s) to obtain historical usage data. This historical data is then analyzed in an effort to understand what the normal state usage looks like (amongst other factors).
In addition to the application of proprietary knowledge and methods, the following bullet points outline some of the steps performed throughout the detailed audit process:
An analysis to identify whether each account was on the most appropriate delivery schedule.
A review of all applicable aspects of the taxation of electricity, including, but not limited to, state and local sales tax, gross receipts tax, utility tax, and energy tax.
An analysis of all available rate tariffs to ensure the most appropriate and cost-effective billing structure is being applied to all accounts.
An examination of supply costs in deregulated markets to ensure that present pricing is in line with what the market dictates.
We also ensure that aggregation of supply across meters in utility markets is analyzed to assure pricing for the cumulative energy required is at an optimal level.
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Our Process
Consult
Access 16+ cost-saving solutions spanning 4 subcategories (Utility Services, Contract Services, Financial Services, and HR Services). There is often one, or more, areas in which we can aid our clients.
Audit
Our Auditors deploys proprietary knowledge, methods, and superior technology to thoroughly analyze invoices and services for errors, anomalies, and inefficiency in billing. Clients can login to track the progress of each audit, at each location, in “real time” using the Client Portal.
Advise
An interim report of findings can be downloaded at any time during the audit process through your uView Dashbard. A formal report of our audit recommendations is provided by our Auditors on every audit project.
Deliver
Where some audit firms simply make recommendations, Our Auditors will assist you to implement the cost savings and obtain the refunds that we identify. We will act as your project lead, completing paperwork and compiling claim documents for your review that are required to realize the benefit of what we propose.
Achieve
As a contingency-based service we only invoice for cost savings and refunds if, and after, the client realizes them.
Views360™ is a holistic dashboard where clients track the progress of each audit, at each location, in real time.
Whether you’re managing a single manufacturing site or a nationwide retailer with thousands of locations, Views360 simplifies your cost containment projects. With multi-audit visibility, real-time communication, and dynamic savings reports, everything you need is just a click away!
Step 1: Data Upload & LOAs
The process starts with a simple data upload request needed to complete the cost reduction project. Any necessary Letters of Authorization will be available for download/upload within your dashboard or emailed to you.
Step 2: Analysis Begins
Our cost reduction experts will begin identifying errors and inefficiencies within your billing structures. The option to communicate with the auditor assigned to your audit is available within your Views360™ dashboard. You will receive notifications when savings are found and ready to implement.
Step 3: Implementation of Identified Savings
View, approve, or deny all cost savings recommendations within the client portal. You will receive an email notification once results are ready for your review. All savings recommendations are approved by the client prior to implementation.
Step 4: Savings & Audit Report
Sit back and enjoy savings! You will receive a complete audit report of the savings and refunds implemented, as well as the ability to track ongoing savings and invoices, all within your client portal.
We’ve Created A Friendly Guide About All of Our Audit Services To Help You Take Control Of Your Finances Once And For All
We take a holistic approach to every engagement, thoroughly reviewing multiple service areas to enhance operational efficiency. Leveraging a global network of specialized expertise across various cost categories, we assign an experienced cost containment specialist to each project.
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