Utility management is the process of tracking an organization’s utility consumption and costs. It includes the receipt, scanning, and analyzing of invoices to uncover errors, overages, and other opportunities for cost savings. The utility management process is driven by data analytics and enables organizations to make informed decision-making to improve operational efficiency and increase customer satisfaction.
Utilities managers work with complex systems and a wide range of stakeholders, so it’s crucial for them to be detail-oriented. This is particularly true when ensuring that water treatment processes are followed precisely in order to ensure safe drinking water for the community and business. Utility managers also collaborate with public and private organizations during emergency situations, such as natural disasters or power outages.
Tracking electricity and water consumption can be challenging, especially when a property has a variety of different equipment that consumes energy at different times. Luckily, there are several solutions that can help to streamline this process. One of the most popular tools is the Utility Expense Management (UEM) system, which helps to automate the process of identifying and resolving cost and consumption issues.
Another way to improve utility management is to use a RUBS or submetering solution that tracks the fluctuation of utility expenses and correlates each resident’s charge to their actual consumption. This is a more accurate billing method than a one-size-fits-all flat fee, and it allows you to better manage your energy usage. utility management