A utility audit is a thorough analysis of all electric, gas, water and sewer bills. A telecom audit reviews your phone invoices. The goal of both audits is to find areas where you are currently overspending and could save.
These audits are critical to you because you’re likely already overspending in these areas. Over the past 18 years, we’ve noticed that about 80% of companies we work with are spending too much on their utility and telecom services. Statistically, there’s a good chance you’re one of them.
We find the savings you’re sitting on in our three-part utility and telecom audits:
Research - We review pertinent telecom and utility invoices and service agreements. We don’t simply look at what you’re paying for, but we analyze whether you’re getting the best rates and whether you’re paying for what you actually need. Many of the companies we’ve worked with don’t actually need the entire service package they have - but more on that later!
Review - We look what is and isn’t happening in your utility and telecom processes. Are you taking advantage of all possible tax credits? Is there a cheaper, reliable service provider? Should you upgrade your telephone equipment? We look at all the angles to figure out what’s right for you.
Recommendations - We present the unique set of solutions that are right for you. We show you how much you could save when we implement those solutions, and we make sure there aren’t any unknown factors that could affect these savings.
Most companies simply don’t have the extra time to periodically evaluate their services. Or, they may not realize how common it is to overspend in these categories.
This article will help you understand what an audit is and why you need one. Let’s take a deeper look at how what this audit process entails, and how it so frequently succeeds in finding savings.
Research: Gather Needed Information for Utility and Telecom Audit
The first step in our utility audit program is for you to send us all needed documents.
We need:
12 month history of invoices for all telecom and utilities: electric, gas, water, and sewer.
A copy of every telecom and utility contract you have.
We are typically are able to get started with the most current invoice copy for each account and then pull the historical invoice copies from your utility vendor’s online billing portal.
Most companies are able to get us invoice or log-on information in just a few hours.
Review: Examine All Utility and Telecom Bills and Options
Once we’ve got a complete set of documents we:
Analyze the energy usage number vs. the current meter reading. Is there a discrepancy in these numbers? Is one much larger than the other?
Look for billing errors. Do your rates or fees jump in the past year? Are there typos? Does everything add up like it should?
Then we assess rate structures, trends, and tax exemptions. You may be eligible for a different rates structure. Or you may have been overcharged the past quarter. Or, you may not be taking advantage of the exemption opportunities available to you.
Because we’re so thorough, the entire audit process takes 30-90 days (depending on how many locations are in your portfolio).
Recommendations: Take Advantage of Savings Opportunities
We find the savings opportunities that are right for you.
We may suggest some or all of the following:
Different vendor recommendations
Rate structure options
Tax Exemption options
Credits due
The recommendations themselves vary, but we are able to identify cost reduction opportunities for over 80% of the companies that engage in our services.
