Insight is power
UK businesses owed millions
Is your business owed money?
Following analysis carried out by a UK utilities consultancy, it has been revealed that one in five businesses have energy bills that contain errors. The total sum that is owed through inaccurate charges and miscalculated utility bills to businesses is expected to be up to £500 million pounds.
Whilst this figure is significant, it’s not surprising considering that up to 80% of businesses, don’t check their invoices for accuracy.
So where do these errors originate?
There’s no single point of origin, as they can arise from across the supply chain, from energy supplier errors to meter operators, data collectors or distribution network operators. Errors can result from imprecise meter reads, wrong charges or system and process errors with changes of tenancy etc. Additionally, human error can also contribute, but more often, it’s due to the complex flows of data between different bodies across the supply chain.
Often there is no way of knowing whether a bill is correct or not, and so historical audits and validation are required to analyse and check the data. Simply checking the invoice total is the same or similar to a previous invoice, does not identify if the charge was correct in the first place.
Significant savings from reclaiming refunds can be achieved in addition to ensuring that charges are accurate for future invoices.
Is your business missing out?
Apply for your audit here – you might get a nice surprise!
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