It's part of the role of the accounting team to be able to forecast and predict costs and set accurate budgets. Energy has always been part of this, with the typical approach of [Budget = Last Year's Spend + 5%]. With energy cost representing between 10 and 30% of overheads, this can be quite a hit and miss approach.
Energy is a controllable cost and with the correct tools, and by taking into consideration different regression variables that impact on energy consumption – degree days, production, reduction projects, prices forecasts, etc, forecasting can be very accurate. And if your company is not lucky enough to employ an Energy Manager should this fall to the financial professionals?........Why shouldn’t it?
digitalenergy software provides applications for reducing energy costs and consumption in buildings. As a cloud based solution it collects data and uses it for three main purposes: Reporting, Monitoring and Engagement - enabling effective energy cost control.
This not only enables forecasting but also Invoice Management, accrual of cost (direct and indirect) and management of financial energy investment projects.
A question that I’m often asked is “Who is the biggest beneficiary of controlling your energy and carbon costs?” Well you could say everyone, but if you had to pick one area of a company structure it would have to be the Board of Directors, for three specific reasons
digitalenergy provides management tools to organisational stakeholders to reduce energy costs and enables building owners and occupiers to comply with current and future carbon related legislation, reducing legal and financial risk.
For finance professionals, recommending digitalenergy to your organisation or clients will demonstrate your commitment in managing one of the fastest growing overheads that can affect the bottom line. Having readily available transparency and accuracy of data sources, will ensure that as financial professionals, you are one step ahead of energy crisis or carbon legislation.
If you are financial professional and would like to find out more come visit us on stand A568 at Accountex 2014.
Manchester Science Park
Lloyd Street North
Coventry Canal Basin