Utility bills aren’t pretty – and it can be quite an undertaking to identify billing discrepancies and issues without professional help. In our experience, as a utility bill auditing firm, we see very frequently that individuals and companies do not see this process as mission critical to their business. However, billing issues are more frequent than one thinks, and can amount to significant monetary loss. Here are just a few:
1. For businesses’s that switch providers in a deregulated market, it is important to ensure all relevant account information, lie tax exemptions, are carried over and that the new contract starts when the older one expires – with no overlap.
2. An error in a rate assignment could add up to substantial lost money over time.
3. Meter misreads and clerical errors are common sources of overcharges.
4. Invoice issues, such as billing period overlaps, duplicate charges, and/or credits not being issued.
5. One may be charged on incorrect rates, or there may be more beneficial rates available.
Reviewing your utility bills for inconsistencies can be very profitable, however they can be complex and hard to decipher. Forensic utility bill auditing firms can be a truly beneficial resource in finding issues not typically seen by the naked eye. In fact, it is possible to go back and analyze historical data up to 6 years to identify current AND past billing issues. Customized algorithms allow auditing firms to dive deep into data to locate discrepancies others almost always miss and can even flag potential future issues.
For more information on the importance of a utility bill audit or how UtiliSave can help – visit our website at www.utilisave.com or call one of our industry experts at (718) 382-4500.