Every business has to deal with overhead. Utility bills often make up a big part of that overhead. Keeping the lights on, the water flowing, and the fuel burning can be a major drain on a business’s finances. But there is a way to help reduce those costs. A utility audit will examine your utility billing and usage to find hidden charges and other problems that can save you money every month or even get you a substantial refund on past payments. The likelihood of an error in your billing may seem too small to check for. But the reality is that over 60% of businesses are paying too much for their utilities and aren’t aware of it.
What Is a Utility Audit Service?
A utility audit examines your utility bills to find hidden, excess, or mistaken charges to help your businesses save money. It involves an audit of all the utility bills you pay, going back several months. This analysis will identify whether you’re being charged the wrong rate, if you’re being billed for taxes correctly, and more. The process can also identify faulty metering equipment that results in inflated bills. The result of the audit is a detailed accounting of all of the overcharges and mistakes found during the process.
While you could perform this type of analysis yourself, it’s time-consuming and requires a trained eye to find problems. That’s why most businesses opt to hire a third-party utility audit service, such as Util Auditors, to do the work for them. Our utility audit services are unobtrusive, working behind the scenes with little to no interaction with your staff required.
How Do Utility Audit Services Work?
By now, you may be curious about how the process of a utility audit service actually works, including:
- How much work we need on your end before we can get started
- The steps involved in the process
- How long it will take
As stated in the previous section, there’s very little work required on your part or the part of your staff. In fact, we can sum up the whole process in five simple steps:
- Agree to the terms: We have several services that cover a range of utility expenses. Our audits can also cover expenses such as financial services, real estate, and contract services. Once we’ve agreed on which services will be performed and the terms of service, we can get to work.
- Gather information: Next, we’ll need you to provide us with a few months’ worth of utility bills, along with whatever contracts you have with the utility providers. After this step, your work is essentially done.
- Conduct the audit: We’ll now get to work on our own, pouring over your bills and contracts. We’ll make sure that there are no tax exemptions you’re missing out on, that rates are being correctly applied, and more.
- Provide the report: You can download an interim report at any time during the audit process. But a thoroughly detailed report of our findings will be delivered to you upon completion.
- Deliver the savings: We won’t leave you high and dry after giving you the report. Some businesses need help following through on the recommendations, and we’re glad to help you take the steps to realize those savings.
How Much Does a Utility Audit Cost?
Upon hearing that something will save them money, many are immediately curious about how much it will cost to do so and how much they can save. After all, spending a few thousand to save a few hundred would hardly be worth it. However, our pricing structure protects your business. It’s impossible for you to spend more than we save you. In fact, if we don’t find any savings for you at all, you pay nothing at all. Because we’re a contingency-based service, we only get paid a portion of what we find you in savings.
Many people further wonder what happens if we find some action that could lead to substantial savings, but for whatever reason, they choose not to implement it. Should this happen, are you still on the hook for the potential savings? The answer is no. Our fees only come off of quantified savings that have been realized. If you choose not to implement the changes, you don’t receive savings and we charge you nothing.
This pricing structure is important for two reasons. The first is obvious: you aren’t spending any money unless you’ve benefited from the service. But the second reason may be less obvious. Like you, we’re a business. We want to make money. The fact that we’re able to work on a contingency basis should tell you something about how confident we are that we can save you money. Not every business saves money, but it’s well worth both of our time to find out.
How Much Can I Save?
The exact amount a utility audit can save you depends on a number of factors. There are businesses that won’t save anything at all. But even minor problems can result in huge savings for large businesses. We realize that saying you’ll save somewhere between nothing and a huge amount isn’t very helpful, so we’ve put together a page of results to give you an idea of what businesses similar to your own have saved. As you scroll through the results, you’ll find that many businesses saved over $1,000 a month simply. All they did was eliminate errors in the way service providers calculated their bills.
Start Saving With Utility Audit Services
With no charges unless you save money, it makes sense to get regular audits from a reputable utility audit service. A professional auditor can figure out where your company is wasting money, regardless of whether the problem is faulty equipment or errors in the billing process. The key to getting the best results is finding a company with the experience to catch every detail.
Util Auditors offers unparalleled knowledge about where hidden charges can creep into a business’s expense sheet and the methodology to quickly conduct an analysis of your bills and contracts. You’ll stay up to date throughout the audit process via reports available on our website. At the end of the process, our team of experts will create a detailed report and guide you through the steps needed to interpret and take advantage of the findings. Contact us today to learn more about our utility audit service or the other money-saving services we offer and to schedule your free review.