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The High Cost of Processing Your Own Energy Invoices

Updated: Dec 12, 2018

Source: Steve Longhurst, Trane Strategic Services Leader on 10.30.2018

An independent study recently calculated the cost of processing a single energy invoice at $13.04. A line item under $20 probably won’t catch the attention of the finance director, but a deeper look into missed benefits and opportunities elevates the priority.

Energy is a great business enabler. It has hidden potential to strengthen the bottom line and raise an organization’s sustainability profile. Many organizations focus exclusively on reducing energy consumption. Thinking and acting more strategically about the energy supply is equally important, including how energy bills are paid.


A flawed and outdated method

Over 75 percent of utility invoices are still sent and received as hard-copy print documents or PDFs, delivered via mail, email or even fax. Most organizations recognize the value of capturing and managing invoice data. Over 60 percent of them track the information using spreadsheets. About 30 percent use some type of internal system that doesn’t capture the full details needed to make well-informed energy decisions.[2]

Typically, the process goes something like this:

Employees…

·       Sort through energy company invoices

·       Extract the due amount