The added benefits of bill-pay automation
Automating the payment of utility bills for corporations offers several valuable benefits, enhancing operational efficiency, financial management, and overall productivity. It eliminates the need for manual processing, which can be time-consuming and labor-intensive. Automating this process allows employees to focus on more strategic and value-added tasks rather than routine administrative work.
Manual processing of utility bills is prone to errors, such as incorrect data entry or missed payments. Automation ensures that payments are made accurately and on time, reducing the risk of human error and the potential for costly mistakes. Automating utility payments ensures that bills are paid promptly, avoiding late fees and penalties. This helps maintain a positive cash flow and better financial planning. Additionally, automated systems can be set up to take advantage of early payment discounts offered by some utility providers.
Easily organize and access historical records.
Automation facilitates better record-keeping by maintaining a digital trail of all transactions. This makes it easier to comply with financial regulations and audits and provides easy access to payment histories and financial data for reporting purposes.
As a corporation grows, managing utility payments manually can become increasingly complex and cumbersome. Automation provides a scalable solution that can handle increasing volumes of transactions efficiently, ensuring smooth operations regardless of the company’s size.
ClearStandard can close the last mile to the utility provider to enable organizations to pull invoice information as soon as they are published and feed the data into a financial system to clear the balance. ClearStandard will also provide a digital copy of the invoice for record keeping and any audit.
Along with transforming energy and water consumption data, ClearStandard also initiates the bill-pay process and archives a digital copy of the bill for record-keeping purposes.
Is ClearStandard right for you?
With thousands of utility accounts available for streaming electric, natural gas, and water usage data, it’s likely ClearStandard has you covered. Go ahead and search our database of providers or contact us for demo.
Automatically import, review, and process utility bills and maintain a searchable audit trail of invoice data.
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