Digital Disrupter - Digital Disruptors ExamplesAt Catalyst, we like to think we are disruptive innovators, and with EaaSi® we know we are sending some ripples across the TPI marketplace
The year of the Digital Disrupter
At Catalyst, we like to think we are disruptive innovators, and with EaaSi® we know we are sending some ripples across the TPI marketplace.
The EaaSi energy spend management platform utilises robotic process automation (RPA) to automate contract and billing management, delivering accurate and transparent results in minutes instead of months. It is the use of RPA that makes the platform so powerful.
The UK has been entering a digital space for a number of years and in the utilities space, digital is paving the way for smart meter technologies – removing the labour intensity of manual meter reads or cost inefficiencies in estimated bills. Digital here, has paved the way for new world of metering.
But one area that is still lagging behind in embracing digital technologies is in energy spend management.
The UK’s industrial and commercial businesses consume around 185TWh of power each year, equating to £27bn at 14.5p/kWh. But the way the bills are processed and validated, the way the energy spend from businesses is managed and processed, budgeted for and forecast is still very manual and, in our opinion archaic.
With such a high portion of a business’s overheads being spent on utilities or solutions to reduce energy consumption costs, we question why companies are still using 3rd party systems and processes that are manual, time intensive, often riddled with mistakes from manual data entry.
We understand the pain businesses face when managing energy spend. From needing visibility and understanding of energy procurement and contracts to validating bills so as to avoid over or under payment as well as time intensity of carbon reporting requirements and costs associated with delivering and fines for getting it wrong or failing to comply.
That is why we have brought the EaaSi (energy as a service) software platform to market.
Missing and inaccurate bills as well as incorrect data entry is the main reason over 1.2m businesses in the UK are owed money back from suppliers for bills paid going back 6-years.
Businesses need to stop wasting time, money and ‘energy’ and embrace the benefits digital technologies like EaaSi can provide.
EaaSi works by:
> automatically pulling together end-to-end utility data into a single place, removing the need for human intervention and massively reducing resource requirements for contract management. A HUGE win for business.
> interfacing with accounting packages such as SAP, Sage and major ERP systems. This gives finance departments immediate visibility on energy spend, billing cycles and provides fully automated, wholly transparent bill validation. Another WIN for business.
> creating a digital filing cabinet for all utility data and contract information. It links into supplier’s systems, automatically requests bills and uses machine learning to fill in any gaps.
> offering fully automated bill validation using 120 different checks to ensure bill accuracy against consumption and contractual rates, with any anomalies flagged via an alerts system
> enabling accurate budget forecasts, visibility on accruals, benchmarking against market rates for flexible contracts, and simplifies procurement for both end users and suppliers.
> Delivering energy and carbon reporting at the touch of a button, drastically reducing administrative burdens.
More than ever right now, our customers want to understand their costs. Having visibility of energy spend data through EaaSi™ provides the insights businesses and the finance teams need.
EaaSi provides tangible benefits, such as:
> To help businesses better forecast, budget and procure utilities EaaSi automatically pulls together end-to-end utility data into a single place, removing the need for human intervention and massively reducing resource requirements for contract management.
> The EaaSi platform also enables accurate budget forecasts, visibility on accruals, benchmarking against market rates for flexible contracts, and will simplify procurement for both end users and suppliers. It also delivers energy and carbon reporting at the touch of a button, drastically reducing administrative burdens.
> We believe EaaSi is the answer to give businesses access to their energy data, to have visibility of their energy spend in order to identify opportunities for managing consumption, costs and carbon emissions as well as get a better handle on future energy budgets and costs.
Catalyst Digital Energy is an award-winning energy consultancy with a focus on digital energy services, total energy contract lifecycle management and energy management services. It is revolutionising how businesses manage energy with its unique Energy Spend Management Platform, which is powered by Robotic Process Automation (RPA) EaaSi®.
Catalyst is digitising all aspects of energy, including billing, data, consumption, spend, payments, procurement and emissions reporting. When combined with its fully funded renewable energy solutions, Catalyst offers a unique and powerful approach to managing energy.