How energy and utilities invoice management can help increase control over costs

Submitted by Thiago Turchetti Maia on Tue, 11/08/2016 - 17:25
Invoice Management

Energy and utilities consumption invoice auditing is a challenge for companies of different areas and sizes. When it comes to companies with distributed operations in multiple sites, which deal with hundreds or thousands of invoices every month, managing these invoices becomes an even more time-consuming task. Imagine receiving and processing a large amount of water, electric energy, sanitation, gas, and other consumption invoices each month. Making this routine operational is not simple and demands working with a dedicated team.

Simply registering the invoice’s value and paying it is not enough. The ideal is that the company has real control over these inputs consumption and over the values that are being charged in order to reach advanced levels of efficiency. Additionally, invoice management enables other processes, such as invoice auditing and tax credit recovery.

The process begins by analyzing all the information present in the invoices, which can be manually typed, digitized and processed with OCR (Optical Character Recognition) software, or even downloaded directly from concessionaries’ websites. One of the most significant benefits of invoice management is increasing control and visibility over technical consumption and over energy and utilities costs inside the company. However, since structuring this kind of operation internally is not an easy task and involves investing in an activity not connected to the company’s core business, outsourcing is often the best alternative.

Viridis offers input services for all fields in energy and utilities invoices using different processing methods. The system integrates automatically with ERP suites in order to automate accounting flows, payments, and tax credits. It is also possible to use invoice values directly in other Viridis modules, automatically feeding indicators and multiple energy and utilities management models.

CEO, Viridis

Viridis founding partner with 20 years of experience in leading high-technology companies focused on international markets. Career includes innovation and technology projects in the United States, Europe, and Latin America. He holds a PhD and an MSc in Electrical Engineering from UFMG, a BSc in Computer Science, and an MBA in Finance. He has conducted research projects and academic collaboration in applications of artificial intelligence to industrial problems. He currently serves as chairman at Fumsoft – Minas Gerais Software Society, of which he is a former president.

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