July 24, 2017 | Brian Maw
Utility Submetering - Manual vs Automated [Infographic]

Transcript


Tenant Billing - Manual VS Automated

Many Commercial Real Estate (CRE) companies bill their tenants each month based on the amount of electricity, water and/or gas they consume. This is generally a smart business move, but there's just one little problmem. The current process of billing tenants for their actual consumption is inefficient, inaccurate, frustrating and costly.

Collecting Readings:

Manual Process - An individual goes around to each meter and writes down the usage date

Automated Process - Meters automatically and continuously track consumption

Transferring Data:

Manual Process - Manual meter readings are transcribed into a spreadsheet and delivered to property management

Automated Process - Data is continuously transferred to a cloud-based system and accessible in real time to management

Invoicing:

Manual Process - Paper bills are generated from spreadsheets and printed out for distribution to tenants

Automated Process - Bills are automatically generated and sent digitally to tenants

Reporting:

Manual Process - Paper invoices are organized into binders and stacked on shelves for record keeping

Automated Process - Historic bills are easily searchable on a cloud-based billing management portal

Cost Outlay Recovery:

Manual Process - Management must wait a month or more from the end of the billing period to collect full billing revenue

Automated Process - Bills are sent out immediately when the billing period ends, so the delay in recovery is cut dramatically

Rolling Up Data:

Manual Process - When bills are finally paid, the updated status must be manually recorded into accounting or property management software

Automated Process - Systems are fully integrated to automatically update management systems

Dynamic Situations:

Manual Process - Data needs to be manually reconciled and provided to tenants if they contest the bills

Automated Process - Tenants can always pull their entire billing history online and access granular data

Tenant Engagement:

Manual Process - None

Automated Process - Tenant billing portal can be used to engage with tenants and provide transparency for them to track their own usage