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How To Manage Your Company’s Utility Bills Better

How To Manage Your Company's Utility Bills Better
Written by MicroStartups

Energy reports have confirmed that America is leading globally in energy wastage with an average energy efficiency of about 42%.

Part of this energy is wasted in the form of electrical power in commercial facilities and the manufacturing sector (approximately 20%).

These shocking figures are a testament to the fact that energy management should be at the forefront of any company that wants to optimize its profits and succeed in business.

Undoubtedly, a significant number of companies overlook the critical aspect of managing their utility bills. Consequently, these companies end up paying massive utility bills that reduce their profit margins.

This article will enlighten you with easy-to-implement tips on how to better manage your company’s utility bills.

What Are Utility Bills?

Utility bills refer to expenses that you incur to run and maintain your company. Utility bills vary depending on the nature of the company and the scale of production.

According to the team at UMC Solutions, “Unlike other types of bills, utility bills can be overly complicated and can fluctuate from month to month. Left unchecked they can easily spiral out of control and become an expense-blindspot for any businesses.”

Although there are many types of utilities in any given company, this article will primarily focus on the most crucial ones, which are:

(1) Electricity Bills

(2) Water Bills

(3) Communication & Internet Bills

How To Manage Your Electricity Bills Better

The significant roles that electricity plays in your company cannot be overemphasized. It powers your lighting systems, computers, communication networks, and air-conditioning appliances, among other accessories.

Therefore, learning how to use your electricity efficiently is crucial for the success of your company. The following proven tips will help you to reduce your electricity bills substantially.

1. Switch Appliances ON/OFF When Necessary

Always ensure that lights and other electrical appliances such as fans and air-conditioners are switched off when not in use. You can also have a single master switch installed in your company for turning off all your electrical devices when not in use.

2. Use Energy-Efficient Lighting Fittings Such As LEDs

Light Emitting Diodes consume approximately 75% of the energy to produce the same amount of light as incandescent lamps. For this reason, they will significantly cut down your lighting bills.

3. Use Smart (Automated) Air-Conditioning Systems

Uncontrolled air-conditioning machines are among the heavy consumers of electrical energy in companies. By automating the switching ON/OFF of your air-conditioning units, they will operate in the most energy-efficient manner.

4. Adopt Renewable Energy Alternatives

Installing solar panels for your company will help in reducing your overall electricity expenditures. Also, the solar panels will serve as reliable backup systems for your company in the event of power outages and electrical maintenance.

5. Perform Regular Energy Audits

Energy audits will help you keep tabs of all your power usages. In this manner, it will be possible for you to correct the electrical issues that contribute to unnecessary energy wastages. Energy audits will help you know which components need repair, servicing, or replacement.

How To Manage Your Water Bills Better

Currently, studies have confirmed that many companies do not pay close attention to their water expenditures. Consequently, they end up paying huge and avoidable water bills. The following tips will help you reduce the water expenses of your company.

1. Perform Water Audits-

Similar to an energy audit, a water audit tracks your water use and highlights areas of improvement. A good water audit can show you the location of leaky taps or pipes and highlight equipment that uses water inefficiently, opening your eyes to more efficient systems that will help you save more water.

2. Buy Water-Efficient Appliances

If your water audit has highlighted wasteful equipment, purchasing water-efficient appliances will go a long way in cutting down your water expenditures. These can include water-saving taps, shower heads, and even waterless urinals.

3. Integrate Storage Systems in Your Company

Storage systems serve as a backup in case of water shortages. Even more, water storage systems will reduce the amount of money you pay to water companies. There are services today which can further integrate water recycling and storage, further reducing your company’s water bills over time.

4. Sensitize Your Employees

Managing your company’s utility bills is not something you can do on your own. Actively engaging your employees will facilitate the realization of the utility management goals of your company.

How To Manage Your Communication & Internet Bills Better

The success of any company/organization is dependent on communication. Communication helps businesses transform new leads into potential customers. However, if not well managed, communication bills can be huge. Implement the following tips to cut down these bills:

1. Review

Regularly review and inspect any billing charges. You want to avoid being surprised with any scheduled or unscheduled rate increases. Compare the rates on your monthly bills with the standards stated in your billing contract.

2. Subscribe

With communications contracts, negotiate for flat communication rates where you will only pay for the airtime that you use.

3. Hire

Employ trained and reputable professionals to perform calls audits to track your communication expenses. These audits can also highlight unnecessary expenditures.

4. Disconnect

Remove telephones that are no longer in service to reduce your monthly telephone payments. This can also apply to data usage; if you pay by the amount of bandwidth used, be sure that extra devices are turned off and not using data in the background.

Eco business is on the rise, and means reducing wastage has never been a hotter topic. It is essential to understand that with the above tips, you will be able to minimize your utility bills substantially. Your utility expenditures will be scaled down through the reduction in the amount of electrical energy consumed by your company, conservation of more water, and cutting down of your internet and telephone expenses. In effect, your company will generate more revenues and remain ahead of its competitors.

About the author

MicroStartups

A team of writers and marketers, MicroStartups was founded to inspire the entrepreneurial and business community to give back. We believe in business growth through giving and supporting the local community.

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