Understanding your utility invoices and the charges
We appear to live in the modern world where we are happy to pursue claims for mis-sold PPI, Clinical Negligence, Third Party Accidents and even money back as a result of food poisoning whilst on holiday. There are many self-proclaimed experts that promise in getting you money that you may be entitled to but who do you trust to get you what you're rightfully owed?
The dilemma is, do you go for the cheapest provider who promises to take a smaller cut of your money, or do you forsake a proportionally larger slice from a potentially bigger pie?
Take this as an example, you sign up for 'high speed broadband' and your neighbour also does, but with a rival provider. Both are Broadband. Both may indeed be 'high speed', but one can expect that over the period of their respective contracts, the service they actually receive and their overall customer experience may be completely different. There is indeed the dilemma of which is cheaper and which is less-expensive.
What about your Energy Bills? Have you or your predecessors been concentrating too much on simply getting the bills paid, or focussing on reducing consumption as a way of reducing energy spend?
Don't get stuck in the trap of validating bills at invoice level, take a step back and ensure the supplies are indeed powering your premises or equipment. That might mean qualified personnel physically investigating the supplies, but you could find you're paying for your neighbours or your competitors' supplies.
In some cases, where dependent supplies are found, you may create a revenue stream and manage billing your tenants with a Tenant Billing Service. In other cases, you may be the sub-supply, so look at the return on investment of putting in your own connection where possible. In any case, once supply ownership is confirmed and your portfolio is cleansed of erroneous supplies, get your money back where you've paid out in error and then focus your attention to detailed analysis of your invoices on your core portfolio.
Check the type of supply contract and identify whether there is potential for pass-through charges to be refunded. These are the costs that are 'passed-through' to you via the supplier for generating the energy, distributing it to you and telling you how much it cost. In some cases, these charges could be a small as <1% of your bill, so easy to miss and just as easy to simply leave it 'for another day' which never comes round.
SMS have a dedicated team of professionals who are experienced in pursuing both large-scale targeted recoveries projects and ongoing invoice validation services on behalf of many customers across various industries.