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Utilities Invoice Receipt and Processing
No more data entry headaches. PowerTrack insulates you from the hassles of handling utility invoices by automatically processing and loading your invoices for online viewing.
Data Capture
Invoice data captured in PowerTrack provides exceptional visibility. You receive one standard view for all key data fields, including all units of measure for gas and electricity, as well as for other utilities, such as water, sewer, and waste.
Invoice Validation
State-of-the-art analysis of invoice charges against your business rules ensures paying the right amount to your utilities providers. PowerTrack validation includes:
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Supplier verification
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Point-of-service verification
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Duplicate invoice checks
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Comparison against expected bill amount/reasonableness thresholds
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Application of manual approval thresholds
Cost Allocation
Cost allocation rules are applied automatically to each invoice based on your general ledger (GL) assignment rules. Even if the invoice has multiple services (e.g., gas and electric), PowerTrack can use your GL rules to assign the cost at the line item level.
Invoice and Payment Approval Workflow
When invoices meet your business rules, they are automatically approved for payment. Exceptions can be reviewed and approved by you directly online in compliance with corporate policies and multi-level approval hierarchies.
Payment and Cash Management
PowerTrack payment and cash management options are second to none. Whether utility payments are made electronically or by paper check, our customers control their own cash. Make payments immediately or choose when to pay in the billing cycle, effectively applying basic cash management principles. PowerTrack will process all utility invoices and consolidate your payment to PowerTrack into one convenient payment. Financing options are also available for extending your payment terms to PowerTrack.
Financial System Integration
All payments include detailed remittance advice to support efficient, accurate cash application within the utility’s receivables management processes. This ensures your payment is properly credited. Automatic, timely G/L updates can be made to your financial systems as well for better cost accruals and forecasting.
Reporting and Analysis
Take advantage of detailed electronic data to analyze usage information with PowerTrack Reporting. Business intelligence begins with invoice data, and it’s all accessible through our reporting and data analysis features.
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