Digitisation in a Post Covid World
Digitisation is a post Covid World – No business is immune to the effects of the COVID-19 pandemic. But many businesses have shown their digital worth during such unprecedented times. Some have quickly switched to a digital existence, with teams setting up home offices and working virtually. Others have leant on the support of the furlough scheme which has offered much needed support and respite during difficult times.
But what has lockdown and the new normal taught us? Digital is where it is at! From Zoom to Microsoft Teams we have all been immersed in a digital life. This digitalisation of our lives has also encouraged further development within the building management sector and it is about time.
Digitisation Transformation
The management of energy spend is a billion-pound marketplace. For some businesses it’s the third highest overhead. Yet surprisingly the industry is still so manual. Excel processing, manual data entry by bill validation companies, paper bills from suppliers. Transitioning energy spend management from manual to digital is a simple process and can deliver valuable business savings and opportunities.
Digital transformation efforts are expected to increase post COVID with the growth of robotic process automation (RPA). The big benefits of RPA implementation are wide and varied, from improved employee and customer satisfaction to accelerated productivity gains, and improved compliance.
At Catalyst Commercial Services we advocate the benefits of RPA technology, why? Because we know it can dramatically transform the way businesses manage energy and utilities spend.
Our Energy Spend Management platform uses RPA technology to digitally transform the way businesses manage energy and utilities spend. EaaSi automates procurement, bill validation and compliance delivering immediate ‘productivity’ and cash-flow gains. It is in effect an energy data hub and digital filing cabinet, enabling business to have a digital copy of a bill on the system and the platform. EaaSi’s RPA formula has helped some clients claw back millions in over-payments on energy contracts.
EaaSi is revolutionising the bill validation process with RPA, the big benefits provide huge advantages:
- you can instantly see the true cost of your energy bills. There is no more waiting for bill validation companies or TPIs to spend weeks or months calculating whether you are likely to be in energy debt or credit when you pay your next utility bill.
- it enables automation of tasks in minutes, tasks that previously would take days or weeks to complete.
- it enables transparent delivery of fully digitised end-to-end services across procurement and bill validation in minutes, not months, removing the risk of error.
One of the most exciting areas is the ability to fully automate the procurement process. Energy procurement remains very much a manual process. EaaSi changes that, because once the data is in the platform, we can use it to build a tender, put it in front of suppliers and speed the process. With more accurate consumption and pricing data, suppliers can bid for chunks as opposed to the whole portfolio. That should enable more competitive bids – and the system can easily manage multiple suppliers and bills.
The platform also provides carbon reports based on consumption data, reduces the reporting burden on energy and sustainability managers. Firms using flexible energy contracts can also pull in trades executed and benchmark against market activity, enabling businesses to see how well their trading teams or partners are performing.
About Catalyst Commercial Services
Catalyst is a market leading independent energy consultancy that provides energy procurement, sustainability and environmental services. Catalyst is one of the leading providers of utility purchasing and contract negotiation services to the commercial sector. With over 15 years’ experience in this dynamic market, the team of energy market professionals provide a full options appraisal for business utility contract needs.
