Utility and Telecom Audit [Free Download]
80% of companies across the US are overspending on their utility and telecom expenses.
Why be one of them?
In a time when most companies are scrambling to try to cut expenses, a telecom audit may be the perfect way for you to start saving on recurring expenses.
In this free download, you’ll learn:
4 reasons you’re a great candidate for an audit
4 hidden utility and telecom problems you likely have
What a utility and telecom audit is
How much you could save with a utility audit
We’ve distilled all of our industry knowledge into a few short sections for your convenience.
Real Talk on Utility Audits: Why Ours Work
Our audits work because they are strategic, savings-oriented, and safeguarded.
You can save on your utility and telecom expenses by getting a free audit. (We only bill after our cost-cutting solutions reduce your utility spend.) Our utility audits successfully find savings for 80% of our clients because they are thorough, savings-oriented, and safe guarded.
Below, we’ll go into detail about each of these categories.
Every audit we do is:
Strategic
Savings-oriented
Safeguarded
Thorough Utility and Telecom Audits
WCI’s audits are carefully calibrated to yield the maximum amount of savings opportunities for you and your company.
We are thorough: We examine your bills, your rate structures, and trends in your 12 month invoice history. We also look at tax exemptions, standard pricing options, and vendor options. We often find credits - take this manufacturing client for example.
This client, an auto parts manufacturer in North Carolina, partnered with us about two years ago. We scoured three years of invoices - and secured a refund of $82,720.41
They were paying a tax that they were excluded from due to their NAICS classification. And they had no idea!
We find recommendations that make the most sense for you and your company by examining all the options available to you given the market you are in. After we complete our review process, we provide recommendations to maximize your savings. We show you how to take advantage of cost-reduction opportunities - but we don’t stop there!
After we get your go-ahead, we set them up on your behalf and ensure all implementation goes smoothly. After that, you can start collecting on the savings!
Our Utility Audits are Savings-Oriented
Our audits are so thorough that they routinely find savings. Over the years, we’ve found how to find the unique savings opportunities that you’re sitting on.
Recently, we partnered with a mattress manufacturer. They had facilities in six states, and like the auto parts manufacturer above, they didn’t realize how much savings they were sitting on. We audited their utility and telecom expenses and were able to uncover significant savings opportunities by disconnecting outdated and unused phone lines and securing better pricing on their energy contracts.
We’re so confident that our audits will find savings opportunities for you that we don’t require payment until we’ve implemented cost-cutting measures. You don’t pay us until your savings appear on your invoices. It’s another way we try to protect your bottom line - we don’t believe you should pay for something that does not (or has yet to) benefit you.
Utility Audits Safeguards Your Savings
We don’t stop at simply finding savings; we ensure that those savings are protected.
We make sure vendors abide by any new changes that have taken place in your contract. After all, what’s the point of making cost-cutting changes to your utility management if those changes aren’t permanent? If your vendor agreed to standardized pricing, but then kept charging you at your old rate, that would quickly become a problem!
Our audit services are different from others because we monitor your utility and telecom invoices post-audit. When we find a discrepancy or error, we call the company and have any issues credited to you. So you can always rest easy knowing that your billing is accurate - and your savings are secure.
Could an audit help your company? Join the discussion in the comments below!
Utility Audits: The 4 Ways You Never Knew You Were Overspending
You need an audit because there’s a 80% chance you’re sitting on savings. This means you’re likely loosing thousands of dollars every year, simply because you haven’t had a free utility audit like ours.
Over the past decade, we’ve found that there are 4 ways that most companies overspend. They:
Need a different utility rate structure
Have invoices with errors
Have overlooked tax exemptions opportunities
Are paying for services or meters that are not used
Fix this issues, and you’ll likely have a new problem: what to do with the extra $2000 a month that you suddenly have!
You Likely Need a Different Utility Rate Structure
There are three parts to utility rate structures: customer charges, demand charges, and supply charges.
They’re not all the same. Pick the wrong one and you may overpay. And to be honest, a lot of companies do.
During our audit, we find the rate structure that’s right for you. If we recommend changing your utility rate structure, it’s because you’ll save as the result. If this is the case for you, we will navigate the transition on your behalf and monitor your invoices to ensure your new rates are correct.
We don’t just find ways you can save, we follow through to make sure you can find things.
Your Invoices Have Errors
Few companies have the resources to review and monitor their invoices. It’s one of those things that can easily get lost in the sight of more urgent tasks. But it’s worth it to do because of how much it can save you.
Say you’ve been charged $500 a month for the past six months, but this month you get a bill for $700. You’ll know you need to investigate! Maybe the larger bill is the result of a usage spike - or maybe not.
Know your bill history and these anomalies will stand out to you.
You’re Missing Out On Tax Exemptions
When it comes to tax exemptions, it’s often ideal to have expert help. Different business can qualify for different statuses - depending on which state you’re in and which government regulations apply.
Tax codes can be complicated and overwhelming, but the business that know how to take advantage of the savings opportunities in them can come out ahead - way ahead, in some cases!
Business utilities can be tax deductible. Some companies can include them on the “other deductions” line item on their tax return. But you’ll want to make sure that filing as such complies with state regulations.
You’re Paying for Unnecessary Services or Meters
Over time, companies change. They get larger, and responsibilities change hands. In the process, some details can get overlooked. An audit can find services and meters that are no longer in use, but are still being charged.
Sometimes it takes another set of eyes to find these overlooked details!
Utility Audits Yield Savings
Reviewing your rate structure, your invoices, and your exemption options can yield savings.
Utility bills are non-negotiable - everyone has to pay them! But they’re also recurring, so the savings you enact today will affect your companies bottom line for years to come.
5 Reasons You’re a Great Candidate for a Utility Audit
Who is the best candidate for an audit? Someone who is short on time - and sees the cost-reduction potential in an audit!
Who is the best candidate for an audit? Someone who is short on time - and sees the cost-reduction potential in an audit!
Most people don’t know they’re sitting on savings. What they do know is that they don’t really have the time or resources to find them.
We help companies champion their bottom lines through our exhaustive audits.
Let’s take a few minutes to examine five aspects that make you a great candidate for an audit.
You have:
Not evaluated your invoices in the past year
Multiple utility meters
Expense line items that you can’t explain to your fifth grader
Multiple telephone lines
Multiple locations
Sound familiar? If one of these rings true, you’re likely sitting on savings.
Your Invoices Aren’t Monitored
So if you haven’t really looked at your utility invoices recently - don’t worry! You’re in good company. With all the different responsibilities you have, sometimes there simply is no time.
(Curious what an audit is?)
Our services are perfect for people who don’t have the time or resources to complete their own audit. We do all the work for you, then show you the exact steps to take to save.
But even if you aren’t going to do your own audit, it’s still helpful to know what to look for an your invoice.
To find your ideal usage status, all invoices need to be analyzed for:
Meter usage vs energy usage
Line item status
Potential errors
When we find discrepancies in any one of the categories, you are owed credits!
And to really find where you’re overspending, your invoice history needs to be reviewed. We typically examine the last 12 months of all utility and telecom invoices for each of your locations. We occasionally go beyond the last year, but most states operate under a statute of limitations of 36 months.
This means that if we found that you were due a credit on a bill that is more than 36 months ago, you probably aren’t legally eligible to receive it.
You Have Multiple Meters
The more meters you have, the more likely it is that you have billing errors for them. Meters gauge your energy consumption and your power quality measurements, but they can also show device inefficiencies.
Examining your meters can yield billing credits or savings as the result of finding inefficiencies.
You Have Inexplicable Line Items
In order to understand your bill, you have to know what you’re being charged. That can be really difficult, because line items aren’t always clear.
Examples of some telecom line items are:
Access Recovery Charge: this is basically a made-up charge; it’s not technically associated with any real cost. It’s not a tax, and it’s not a government fee. Telecom companies charge it to make up for lost revenue.
Universal Service Charge: this charge supports telecommunications services at affordable rates for people in high-cost or rural areas.
Minimum Monthly Charge: you incur this cost when you don’t make long distance calls.
(Find more information about these charges and many others here!)
Some of these charges are legitimate, others are not.
To tell the difference, ask your telecom provider for help deciphering your phone bill. Don’t be afraid to ask about reducing or eliminating some of these charges from your phone bill - they may be willing to work with you.
You Have Multiple Telephone Lines
If you have more than just a few phone lines, you’re likely an ideal candidate for a utility audit. More lines = more savings opportunities.
Say you have 100 phone lines, and you find a $1.00 fee reduction for every line. You’re already saving $100 a month with just that one change!
You Have Multiple Locations
More locations can mean more savings. You can get better rates and any changes you make to your utilities will have a bigger impact.
If you have multiple locations, you can take advantage of standardized pricing. Suppose you have three different office buildings, but they’re all getting charged at different rates by the same electric company. You can ask the utility provider to provide standard pricing for all three.
Standardizing the pricing will help you save - in the short term and in the long run! You won’t be overpaying at any of your properties once the new pricing takes effect. And you can also budget with confidence since you’ll know what your prices will be for the foreseeable future.
Savings Can Be Yours!
Did these scenarios ring true to you? If so, why not reach out for a free audit? It requires zero-capital outlay from you, and the results can positively impact your organization for years to come.
Our audits work! 80% of companies in the US are overpaying for their utilities and telecom. Why be one of them?
What do you think about utility audits? Let us know in the comments below!
Real Talk on Utility Audits: Why Ours Work
Our audits work because they are strategic, savings-oriented, and safeguarded.
You can save on your utility and telecom expenses by getting a free audit. (We only bill after our cost-cutting solutions reduce your utility spend.) Our utility audits successfully find savings for 80% of our clients because they are thorough, savings-oriented, and safe guarded.
Below, we’ll go into detail about each of these categories.
Every audit we do is:
Strategic
Savings-oriented
Safeguarded
Thorough Utility and Telecom Audits
WCI’s audits are carefully calibrated to yield the maximum amount of savings opportunities for you and your company.
We are thorough: We examine your bills, your rate structures, and trends in your 12 month invoice history. We also look at tax exemptions, standard pricing options, and vendor options. We often find credits - take this manufacturing client for example.
This client, an auto parts manufacturer in North Carolina, partnered with us about two years ago. We scoured three years of invoices - and secured a refund of $82,720.41
They were paying a tax that they were excluded from due to their NAICS classification. And they had no idea!
We find recommendations that make the most sense for you and your company by examining all the options available to you given the market you are in. After we complete our review process, we provide recommendations to maximize your savings. We show you how to take advantage of cost-reduction opportunities - but we don’t stop there!
After we get your go-ahead, we set them up on your behalf and ensure all implementation goes smoothly. After that, you can start collecting on the savings!
Our Utility Audits are Savings-Oriented
Our audits are so thorough that they routinely find savings. Over the years, we’ve found how to find the unique savings opportunities that you’re sitting on.
Recently, we partnered with a mattress manufacturer. They had facilities in six states, and like the auto parts manufacturer above, they didn’t realize how much savings they were sitting on. We audited their utility and telecom expenses and were able to uncover significant savings opportunities by disconnecting outdated and unused phone lines and securing better pricing on their energy contracts.
We’re so confident that our audits will find savings opportunities for you that we don’t require payment until we’ve implemented cost-cutting measures. You don’t pay us until your savings appear on your invoices. It’s another way we try to protect your bottom line - we don’t believe you should pay for something that does not (or has yet to) benefit you.
Utility Audits Safeguards Your Savings
We don’t stop at simply finding savings; we ensure that those savings are protected.
We make sure vendors abide by any new changes that have taken place in your contract. After all, what’s the point of making cost-cutting changes to your utility management if those changes aren’t permanent? If your vendor agreed to standardized pricing, but then kept charging you at your old rate, that would quickly become a problem!
Our audit services are different from others because we monitor your utility and telecom invoices post-audit. When we find a discrepancy or error, we call the company and have any issues credited to you. So you can always rest easy knowing that your billing is accurate - and your savings are secure.
Could an audit help your company? Join the discussion in the comments below!
What exactly is a utility and telecom audit? (+ Infographic)
Think of a utility audit as your ticket to substantial savings. Most companies are overpaying for their utilities; you don’t have to be one of them!
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.
Could more industries benefit from audits? Let us know your thoughts below!
What exactly is a utility and telecom audit? (+ Infographic)
Think of a utility audit as your ticket to substantial savings. Most companies are overpaying for their utilities; you don’t have to be one of them!
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.
Could more industries benefit from audits? Let us know your thoughts below!
Real Talk on Utility Audits: Why Ours Work
Our audits work because they are strategic, savings-oriented, and safeguarded.
You can save on your utility and telecom expenses by getting a free audit. (We only bill after our cost-cutting solutions reduce your utility spend.) Our utility audits successfully find savings for 80% of our clients because they are thorough, savings-oriented, and safe guarded.
Below, we’ll go into detail about each of these categories.
Every audit we do is:
Strategic
Savings-oriented
Safeguarded
Thorough Utility and Telecom Audits
WCI’s audits are carefully calibrated to yield the maximum amount of savings opportunities for you and your company.
We are thorough: We examine your bills, your rate structures, and trends in your 12 month invoice history. We also look at tax exemptions, standard pricing options, and vendor options. We often find credits - take this manufacturing client for example.
This client, an auto parts manufacturer in North Carolina, partnered with us about two years ago. We scoured three years of invoices - and secured a refund of $82,720.41
They were paying a tax that they were excluded from due to their NAICS classification. And they had no idea!
We find recommendations that make the most sense for you and your company by examining all the options available to you given the market you are in. After we complete our review process, we provide recommendations to maximize your savings. We show you how to take advantage of cost-reduction opportunities - but we don’t stop there!
After we get your go-ahead, we set them up on your behalf and ensure all implementation goes smoothly. After that, you can start collecting on the savings!
Our Utility Audits are Savings-Oriented
Our audits are so thorough that they routinely find savings. Over the years, we’ve found how to find the unique savings opportunities that you’re sitting on.
Recently, we partnered with a mattress manufacturer. They had facilities in six states, and like the auto parts manufacturer above, they didn’t realize how much savings they were sitting on. We audited their utility and telecom expenses and were able to uncover significant savings opportunities by disconnecting outdated and unused phone lines and securing better pricing on their energy contracts.
We’re so confident that our audits will find savings opportunities for you that we don’t require payment until we’ve implemented cost-cutting measures. You don’t pay us until your savings appear on your invoices. It’s another way we try to protect your bottom line - we don’t believe you should pay for something that does not (or has yet to) benefit you.
Utility Audits Safeguards Your Savings
We don’t stop at simply finding savings; we ensure that those savings are protected.
We make sure vendors abide by any new changes that have taken place in your contract. After all, what’s the point of making cost-cutting changes to your utility management if those changes aren’t permanent? If your vendor agreed to standardized pricing, but then kept charging you at your old rate, that would quickly become a problem!
Our audit services are different from others because we monitor your utility and telecom invoices post-audit. When we find a discrepancy or error, we call the company and have any issues credited to you. So you can always rest easy knowing that your billing is accurate - and your savings are secure.
Could an audit help your company? Join the discussion in the comments below!
5 Reasons You’re a Great Candidate for a Utility Audit
Who is the best candidate for an audit? Someone who is short on time - and sees the cost-reduction potential in an audit!
Who is the best candidate for an audit? Someone who is short on time - and sees the cost-reduction potential in an audit!
Most people don’t know they’re sitting on savings. What they do know is that they don’t really have the time or resources to find them.
We help companies champion their bottom lines through our exhaustive audits.
Let’s take a few minutes to examine five aspects that make you a great candidate for an audit.
You have:
Not evaluated your invoices in the past year
Multiple utility meters
Expense line items that you can’t explain to your fifth grader
Multiple telephone lines
Multiple locations
Sound familiar? If one of these rings true, you’re likely sitting on savings.
Your Invoices Aren’t Monitored
So if you haven’t really looked at your utility invoices recently - don’t worry! You’re in good company. With all the different responsibilities you have, sometimes there simply is no time.
(Curious what an audit is?)
Our services are perfect for people who don’t have the time or resources to complete their own audit. We do all the work for you, then show you the exact steps to take to save.
But even if you aren’t going to do your own audit, it’s still helpful to know what to look for an your invoice.
To find your ideal usage status, all invoices need to be analyzed for:
Meter usage vs energy usage
Line item status
Potential errors
When we find discrepancies in any one of the categories, you are owed credits!
And to really find where you’re overspending, your invoice history needs to be reviewed. We typically examine the last 12 months of all utility and telecom invoices for each of your locations. We occasionally go beyond the last year, but most states operate under a statute of limitations of 36 months.
This means that if we found that you were due a credit on a bill that is more than 36 months ago, you probably aren’t legally eligible to receive it.
You Have Multiple Meters
The more meters you have, the more likely it is that you have billing errors for them. Meters gauge your energy consumption and your power quality measurements, but they can also show device inefficiencies.
Examining your meters can yield billing credits or savings as the result of finding inefficiencies.
You Have Inexplicable Line Items
In order to understand your bill, you have to know what you’re being charged. That can be really difficult, because line items aren’t always clear.
Examples of some telecom line items are:
Access Recovery Charge: this is basically a made-up charge; it’s not technically associated with any real cost. It’s not a tax, and it’s not a government fee. Telecom companies charge it to make up for lost revenue.
Universal Service Charge: this charge supports telecommunications services at affordable rates for people in high-cost or rural areas.
Minimum Monthly Charge: you incur this cost when you don’t make long distance calls.
(Find more information about these charges and many others here!)
Some of these charges are legitimate, others are not.
To tell the difference, ask your telecom provider for help deciphering your phone bill. Don’t be afraid to ask about reducing or eliminating some of these charges from your phone bill - they may be willing to work with you.
You Have Multiple Telephone Lines
If you have more than just a few phone lines, you’re likely an ideal candidate for a utility audit. More lines = more savings opportunities.
Say you have 100 phone lines, and you find a $1.00 fee reduction for every line. You’re already saving $100 a month with just that one change!
You Have Multiple Locations
More locations can mean more savings. You can get better rates and any changes you make to your utilities will have a bigger impact.
If you have multiple locations, you can take advantage of standardized pricing. Suppose you have three different office buildings, but they’re all getting charged at different rates by the same electric company. You can ask the utility provider to provide standard pricing for all three.
Standardizing the pricing will help you save - in the short term and in the long run! You won’t be overpaying at any of your properties once the new pricing takes effect. And you can also budget with confidence since you’ll know what your prices will be for the foreseeable future.
Savings Can Be Yours!
Did these scenarios ring true to you? If so, why not reach out for a free audit? It requires zero-capital outlay from you, and the results can positively impact your organization for years to come.
Our audits work! 80% of companies in the US are overpaying for their utilities and telecom. Why be one of them?
What do you think about utility audits? Let us know in the comments below!
3 Questions to Ask a Utility Auditor - Before You Sign on the Dotted Line!
To make sure you’re working with the best auditor, ask them these three questions.
Suppose you bought a brand-new car. It’s shiny, beautiful, and everything you were looking for.
You drive it off the lot, make a right hand turn - and it inexplicably dies right there in the road.
I’m guessing you would be less than thrilled.
In some ways, audits are like cars - they’re worthless if they don’t do what they should.
You want one that is thorough and effective. You don’t want to leave cost saving opportunities on the table; you want to be able to come away with all the savings available to you.
To make sure you’re working with the best auditor, ask them these three questions:
What does your audit process look like?
How do you bill us?
What on-going services do you provide?
A so-so auditor isn’t going to cut it. Let’s take a look at each of these in-depth.
What does your audit process look like?
The more thorough the initial audit, the less you’ll overspend. It’s just that simple.
You don’t want to partner with someone who is going to find $2000 worth of monthly savings, but miss the $4000 opportunity by not bothering to check your tax exemption status.
To really delve deep into the audit process, ask them a few additional questions:
What’s the turn-around time or time commitment? Audits can take quite some time - anywhere from 90 - 120 days. Be suspicious of someone who tells you they can complete their audit in less than two weeks.
What do you analyze during the audit process? Your auditor needs to be exhaustive. They should look at your meter usage, your contracts, and the past year of utility and telecom invoices for each location.
How do you share your findings? Will you get a copy of the audit results? What will the next steps of implementation look like? How much will your input be encouraged and accepted? You don’t want to partner with someone who isn’t forthcoming about these topics.
Curious if your company could benefit from an audit? Why not schedule a risk-free, informal call?
How do you bill us?
We really believe in performance-based pricing. You should only pay for services that benefit you.
If we don’t find you any savings, you don’t owe us anything.
We share in the profit with you only after you have implemented our recommendations. We share in the savings fifty-fifty.
What on-going services do you provide?
A thorough audit is the ideal way to find where you’re overspending - and to stop!
But to protect your savings, your best bet is to have an auditor conduct a monthly check-up on all locations associated with your account in order to verify that the savings remains in place.
This ensures that your bills are checked for discrepancies, and that you get any credits you’re due.
A audit program is exactly what you need!
Your utility and telecom audit program should benefit you by providing detailed audit services, transparent billing practices, and on-going services.
You can have peace of mind knowing that you aren’t wasting resources or capital on ineffective services.
The three questions above are ones we answer for clients on a pretty consistent basis, and we’d love to discuss them with you too!
Get in touch with us today, and let us know what you’d like to get out of a utilities audit. We’re happy to answer any questions you may have.
Audits can yield unexpected savings - how much are you sitting on?
Utility audits help prevent overspending
The more you know about audits, the more likely you are to not overspend on your utilities.
Find out what an audit entails, and why you need one!
What do you think about these three questions? Let us know in the comments below!
Real Talk About Utility Audits: Why Do You Need One?
If you knew you had an 80% chance of winning the lottery tomorrow, would you buy a ticket? I sure would!
If you knew you had an 80% chance of winning the lottery tomorrow, would you buy a ticket? I sure would!
Based on our experience with utility audits, we conservatively estimate that 80% of companies are overspending on their utilities.
You need an audit because there’s a really good chance you’re sitting on savings.
You’re likely overspending on your utilities because - through no fault of your own - you don’t know what you don’t know. You:
Likely Need a Different Utility Rate Structure
Have Invoices with Errors
Could be Missing Out On Tax Exemptions
Likely are Paying for services or Meters that are not needed or not used
So we’ve compiled our best market knowledge in this post to help you. The more you know, the more you’ll see savings opportunities.
You Likely Need a Different Utility Rate Structure
Utilities bills are different that other bills - like cable, for instance. You can usually pick your internet and cable provider, but you won’t typically get a choice with your electric company.
For most areas of the country, utilities companies are, in effect, state-controlled monopolies. What they charge is carefully regulated and monitored. In other areas of the country, utilities are deregulated and you can pick your vendor. In either case, a utility audit can turn up substantial cost reduction opportunities.
But while the government mandated prices are fixed, the rates you pay are not. You may be paying at a tier you don’t necessarily need to be paying.
There are three parts to utility rate structures: customer charges, demand charges, and supply charges.
We find the best rate structure that’s right for you. We keep in mind typical market rates so when we see charges that are significantly above the normative average, we know that’s a sign of potential savings.
(Curious if our extensive audit program could be a fit for you? Schedule a quick, informal call today!)
Your Invoices Have Errors
Few companies have the resources to review and monitor their invoices. It’s one of those things that can easily get lost in the sight of more urgent tasks.
Reviewing your utility bill history makes price hikes and errors apparent. Say you’ve been charged $500 a month for the past six months, but this month you get a bill for $700. You’ll know you need to investigate! Maybe the larger bill is the result of a usage spike - or maybe not.
Know your bill history, and these anomalies will stand out to you.
You’re Missing Out On Tax Exemptions
When it comes to tax exemptions, it’s often ideal to have expert help. Different business can qualify for different statuses - depending on which state you’re in and which government regulations apply.
Tax codes can be complicated and overwhelming, but the business that know how to take advantage of the savings opportunities in them can come out ahead - way ahead, in some cases!
Business utilities can be tax deductible. Some companies can include them on the “other deductions” line item on their tax return. But you’ll want to make sure that filing as such complies with state regulations.
You’re Paying for Unnecessary Services or Meters
Over time, companies change. They get larger, and responsibilities change hands. In the process, some details can get overlooked. An audit can find services and meters that are no longer in use, but are still being charged.
Sometimes it takes another set of eyes to find these overlooked details!
Utility Audits Yield Savings
Reviewing your rate structure, your invoices, and your exemption options can yield savings.
Utility bills are non-negotiable - everyone has to pay them! But they’re also recurring, so the savings you enact today will affect your companies bottom line for years to come.
Curious if our extensive audit program could be a fit for you? Schedule a quick, informal call today!
Real Talk About Utility Audits: What are They?
Think of a utility audit as your ticket to substantial savings. Most companies are overpaying for their utilities; you don’t have to be one of them!
Our utility audits find the ways you’re overspending and find the solutions you need to stop.
Most people aren’t aware that a utility and telecom audit is even an option for them. So today, we’re going to discuss what a utility audit is, and how it can help you.
A utility audit is an extensive analysis of all electric, gas, water and sewer bills. The audit finds billing discrepancies and reviews rate plan efficacy.
There are three parts to a utility and telecom audit:
Research - We take a look at all service agreements and your invoice history in order to get a clear idea not only of what you’re currently paying for, but what your true service needs really are.
Review - We conduct a remote review all possible aspects of your utility and telecom processes. We speak with site managers to clear up service questions, and we get in touch with your service providers if there seem to be billing discrepancies.
Recommendations - After reviewing your services, we present your tailor-made solutions. We may be able to renegotiate your contracts, or we may recommend other less expensive service providers. We implement the solutions on your behalf, but only after your full approval.
This process is tailored to find every savings opportunity available to you to reduce and eliminate expensive or inefficient utility and telecom services.
There are thousands of utility auditors out there, but we share the goal of helping our clients save on utility and telecom expenses. Specific processes may differ from auditor to auditor, so the audit process we describe below may not describe every auditor’s approach. Below, we’ll give you an inside look at our audit process and show you the different aspects we analyze.
Research: Gather Needed Information for Utility and Telecom Audit
In our utility audit program, we first gather all the documents they need to review your utilities. We need 12 months of bills for all utilities: electric, gas, water, and sewer. 12 months may seem like a lot, but it’s necessary. Looking at 12 months of history gives us the context we need to evaluate what your bench line costs currently are.
We are typically able to get started with just 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 have all necessary documentation, we do the following for each location or property:
Analyze the energy usage number vs. the current meter reading. Is there a discrepancy in these numbers? Is one much larger than the other? That would be the first indication that something is off.
Look for billing errors. Do your rates or fees jump in the past year? Are there typos? Does everything add up like it should? Looking over the past year of expense trends makes price fluctuation much clearer.
After we’ve reviewed the documentation, we’re able to take a step back and evaluate rate structures, trends, and tax exemptions.
A lot of companies have inefficient rate structures - and you may not realize that a better rate structures are available to you. We look at all opportunities available to you so you can stop overspending.
We also evaluate growth trends - and not just once. Price jumps may happen seasonally, as with electric bills. But there can be other reasons for utility price hikes. The utility supplier may have made a mistake, or you may have just renovated one of your buildings. A third-party auditor will find the delineation between charges that are fair and those that are questionable.
A good utility auditor won’t just stop with examining bills, rate structures, and trends. They’ll also look into tax exemptions. Different cities and states have different exemption opportunities in place, so a utility auditor that goes above and beyond will find the best options available to you.
Recommendations: Take Advantage of Savings Opportunities
After we’ve looked over all of your utility and telecom bills and reviewed additional savings opportunities, we present them to you. We always show the bottom line: how much you can potentially save in each utility area by taking these recommended steps.
And based on your unique situation, we may show you some or all of the following:
Different vendor recommendations
Rate structure options
Tax Exemption options
Credits due
The findings vary, but identify cost reduction opportunities for over 80% of the companies that engage in our services.
Most of our audits take 30-90 days, depending on how many locations are in your portfolio.
You may not have the time or expertise to complete a thorough utility audit, but you can absolutely reap the benefits of one. Utility audits can massively benefit your bottom line - and can ease any residual fears you may have about billing mistakes and price spikes.