If your business has more than one location, there is a good chance that managing your utility expenses is a burden. That is if you’re doing it correctly, AKA the hard way. It can be time-consuming, to say the least, to make sure you’re not being overcharged, which frankly is likely.
The following are the top 7 tips on effectively managing your utility expenses. Or, if you prefer the easy way, scroll down for just one tip on that.
THE HARD WAY or 7 Tips How to Effectively Manage Your Utility Expenses
Benchmark and Track Usage:
• Start by benchmarking the utility usage and costs for each location.
• Implement a robust tracking system to monitor utility consumption at each location regularly.
Energy Efficiency Audits:
• Conduct energy efficiency audits at each location to identify areas where energy can be saved.
• Invest in energy-efficient technologies and practices.
• Consider centralizing utility management for all locations. This can help streamline operations, negotiate better rates, and ensure consistency in energy-saving practices.
Negotiate Contracts and Rates:
• Negotiate utility contracts and rates with service providers. Multi-location businesses may have more leverage in securing better deals. Consider using an energy broker or consultant to assist with negotiations.
Monitor and Analyze Bills:
• Carefully review utility bills for each location to spot errors, discrepancies, or unusual patterns.
Employee Training and Awareness:
• Train employees at each location on energy-saving practices and conserving resources.
Periodic Review and Reporting:
• Conduct periodic reviews of utility expenses and report the results to management and stakeholders. Highlight cost-saving achievements and areas that require attention.
THE EASY WAY- LET US HELP
Call Inverse Technology Solutions. We have decades of experience in telecom and utility expense management. We’ve saved our clients millions. Why devote internal resources to this burdensome and time-consuming task when Inverse can take it off your hands, save money, and reduce costs? It is worth a discussion. Call us at 800-854-2444 or visit https://inversetech.com/services/utility-expense-management/