Data is the foundation of every effective energy strategy. Having accurate data you can trust will serve as the building block for all procurement and risk management strategies and crucial reporting that will be used throughout your business.
At Edison, we not only ensure the accuracy of your data, we deliver significant savings and value through our invoice management, audit, payment and reporting services. Whether you manage energy at just a few sites or hundreds, we can handle all of your utility invoices, including water, sewer and energy, saving you late fees, penalties, deposits and time.
Collect. Analyze. Save.
We turn invoice information into usable data to help find ways to save you money.
Invoice Management: We collect and upload data to the Energy Center Web Portal for viewing, reporting and storage.
– Pre-Pay Processing: Vendors send your utility bills directly to us, we extract the information and present it in our Energy Center portal. We send you a PDF of each invoice after receipt/audit and you pay the invoice directly.
– Post-Pay Processing: You receive/pay your utility bills as usual, and electronic copies are forwarded to us for data collection, validation and online presentation with reporting.
Payment: We pay your invoices for you. Vendors send your utility bills directly to us, we extract the information and present it in our Energy Center portal for viewing, reporting and storage.
Audit: To ensure a “right sized service”, we offer a standard and enhanced invoice audit service.
– Standard Invoice Auditing: System-driven statistical audits based on customer tolerances. Data points such as total energy costs and unit costs are compared against prior-period trends, factoring in seasonality and usage floors and ceilings, as well as other optional criteria.
– Enhanced Invoice Auditing: Primarily for larger, complex accounts, we construct a customized rate model specific to the charges applicable to the invoice. We then run your invoice through the model, recalculating each line-item charge and comparing for exact accuracy.
Reporting: Built specifically for energy information, the Energy Center is a centralized online repository for commodity contracts, invoices and customized and standardized reports. You get cost and usage data and insight for budgeting, forecasting and facility benchmarking—saving you time and money.
– Monitoring of check clearing (to avoid late or lost payments)
– File transmission (to populate ERP, AP and GL systems)
– Enhanced payment performance
– Easier budgeting of utility expenses
– Reduced AP expense
Cost savings: We identify excess spending, incorrect charges, anomalies, duplicated data and complex rate cases. We can handle all your utility invoices, including water, sewer and alternative fuels, saving you late fees, penalties and deposits. Typical savings: 0.5%-2% of total annual invoices.
Time savings: Spend less time and fewer resources on invoice collection, analytics, bill payment and reporting.
ROI: Clients achieve real savings of 400% to 800% on average against the associated service cost.
Enhanced strategy: Access to the spend and usage of your entire portfolio simplifies and adds accuracy to creating strategies, budgeting, forecasting and benchmarking.
Powerful technology: Our data collection and reporting tools are built specifically for energy information collection, reporting and storage—100% of line-item detail.
Accuracy: As good as our technology is, it’s only the beginning. Our data experts have extensive experience in energy data collection and analytics. We review your invoices for accuracy, duplicate charges, missing information and complex rate cases, analyze the data in detail and format it into insightful reports, giving you peace of mind that your energy costs are in the very best hands. Uncovering issues is our job—solving them is our passion.
Full-service: With accurate data in hand, we can recommend energy improvement and implement them.
Manager, Data Services
Gregory Boone has been a member of the Edison team since 2009. As the manager of Data Services, Gregory’s responsibilities primarily center on mastering our data management platform. This involves understanding the system and all of its functionality. As a result of providing general management and distribution of data for each our client’s accounts, Gregory develops a knowledge of their situation and is able to recommend features of the software which will improve the customer’s data analysis and reporting. His broad knowledge of each account also helps him to identify anomalies and recognize unexplained increases in billing amounts.
Gregory has an understanding of the rate structures and invoice logic behind multiple utilities. It is this knowledge, combined with his strong analytical and Excel skills, that gives him the ability to build rate models for complex accounts which to enhance Delta’s invoice auditing service. To illustrate this point, Gregory can take credit for identifying two significant billing errors for a client, one to the tune of $191,000 on a supplier invoice as well as a rare $143,000 error on a utility invoice. The error on the utility invoice affected other clients who were also able to collect the fees which had been erroneously billed. To date, he has identified, negotiated and resolved the removal of over $1,000,000 in late fees, utility/supplier errors and deposits.
Gregory is a graduate of The Ohio State University with a bachelor of science in business administration, majoring in finance. In 2016, he received his master of business administration at The Ohio State University as well - and yes, he is a passionate Buckeye!