How automated access to utility data can benefit property managers

Property management is complex, especially when it comes to working with utility data to measure and optimize energy consumption. Traditional methods of manual data entry are time-consuming and prone to errors, making it difficult for property managers to rapidly scale their operations. 

To solve this problem, savvy property managers are using automated access to utility data to streamline processes and stimulate growth without having to hire more employees to wrangle their data. This technological shift allows businesses to reinvest savings into further expansion while enhancing operational efficiency. Here’s how it works. 

1. Scale the business without increasing overhead 

Traditionally, managing utility bills for multiple properties involves extensive manual data entry. Automated access to high-resolution utility data helps property management companies expand their portfolio without having to hire more personnel to manage the workload. Being able to scale operations without a corresponding increase in administrative costs ultimately leads to higher profit margins and more resources that can be reinvested into the business for further growth.

2. Supercharge energy management efforts

Many property managers pay utility bills without taking the time to compare usage from month to month. With utility bill automation, line-item data is collected in a centralized location so teams can focus on more strategic work. With this enhanced visibility, property managers can make informed decisions that reduce energy costs and consumption.

3. Lower the risk of late payments

With manual utility bill collection, paper bills often get lost in the mail, a problem that many organizations find to be their biggest challenge in the AP process. Misplaced utility bills can lead to late payments and potentially utility service shutoffs, ultimately driving up costs for property managers. 

With automated access to utility data, property managers can ensure on-time bill collection and payment, eliminating late fees and ensuring continued service for essentials like electricity and water.

4. Produce investor-grade sustainability reports

A real estate portfolio’s valuation can be significantly impacted by its energy consumption. Not only are there a growing number of carbon emissions reporting regulations, but investors increasingly want to see ESG reports to help inform their investment decisions. 

Automated access to utility data allows property management companies to establish baseline figures for energy consumption and set practical goals for efficiency improvements, carbon emissions reductions, and water conservation efforts. This not only satisfies investor demands for rigorous ESG reporting but also enhances the company's reputation as a responsible and forward-thinking organization, potentially attracting more investment and tenants.

5. Improve employee satisfaction and related costs

Jobs that focus strictly on manual data entry typically have below-average employee satisfaction due to the tedious, unchanging nature of the work. That’s why property management companies often face high levels of churn (and related training costs) for these roles. With automated access to utility data, companies can assign more strategic assignments to teams that manage energy data. This increases employee satisfaction and helps the company save money because it no longer has to train new people on the intricacies of manual data entry.

Scale faster with automated access to utility data

In an industry where timeliness and accuracy are crucial, utility data automation offers property managers a powerful tool to optimize operations, reduce costs, and enhance employee satisfaction. By automating the collection and analysis of utility data, companies can scale their portfolios without the burden of increased overhead, allowing them to focus on growth.

Embracing utility data automation is not just a step forward in operational efficiency — it's a strategic move that can drive long-term success and profitability.