Utility Expense Management
Bill Processing & Bill Auditing
Banyan processes, audits and sets payment parameters for all of your providers. Auditing, analytics and timely recommendations are included.
State-of-the-Art
Banyan processes hundreds of thousands of invoices per month with their technology capturing 100% of the utility bill data.
Reduces Cost
On average, you can expect to save $6 to $8 per bill when Banyan collects and pays your master utility bills.
“The Utility Expense Management service offered by Banyan allows our team to identify high usage variances quickly, provides accurate accrual data, and eliminates the need to process and mail utility payments resulting in significant AP savings.”
Stephen F., CFO
Reduce Utility Costs for Your Community
We all try to do more with less, and managing utility master bills might be a task that makes sense to outsource. It can cost up to $20 to process each invoice for payment, and that’s when things go well. With Banyan you get top tier service and your bills are processed and paid accurately. From receipt to payment is just three days, allowing you to avoid late fees and shut-off notices, saving your staff time, and you money.
Benefits of Using UEM
- Data from your utility bills becomes actionable insight that allows for fast problem resolution, identification of variances, and accurate accruals.
- Saves a significant amount of both time and money.
- Bills collected, paid, and posted back to your G/L or AP application.
- Avoids shut-off notices and late fees.
- Banyan performs dozens of audits to ensure bills are accurate.
Proactive Management from Invoice Receipt to Payment
Banyan incorporates rigorous quality controls to ensure a reliable and proactive process from invoice arrival, through data capture, and to payment.
Banyan uses advanced EDI, web retrieval, optical character recognition (OCR) techniques and highly efficient paper handling processes to quickly and accurately capture, review, and validate all incoming invoices. And when invoices are late, we contact the vendor to minimize late payments and service disruption.
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