It is not uncommon for companies to bear unnecessary costs on power and energy due to billing inefficiencies and misallocation of costs to specific tenants. Also, unexpected spikes in billing for HVAC Control is a killer of profitability that has a direct effect on the bottom line of any business. This necessitates having in place a tenant billing software that allows building owners to raise appropriate bills to their tenants by automated billing for energy consumption.
The controller/integrator for meter reading ensures HVAC Control through an automated billing process that reconciles bills, and reports differences on a periodical basis, while also highlighting inefficiencies in billing.
In what follows, we take a closer look into the features and benefits of the Tenant Billing System, the billing module used in conjunction with Niagara based building management software designed by Messung for efficient metering and tenant billing.
Efficient Billing and Cost Monitoring
The number one concern for any business is bottom-line growth and cost management. There are certain standard elements that businesses review to save costs, and increase efficiency and profitability. Utility bills are often overlooked and go unnoticed. Most even accept the tenant billing as it is.
This is where the device-to-enterprise application comes into the picture. You could automate the entire billing process, increase transparency, give tenants more control over their bills, and much more.
Accountability and Cost-Allocation withBuilding Management
The system built on Niagara Framework is designed to electronically collect energy consumption data of individual tenants and streamline the invoice processes. The dashboard view facilitates summary reports for tenants to view their energy consumption by real-time metering. Monthly invoices are scheduled on a timely basis that is emailed as pdf to tenants.
Naturally, this increases transparency, where the entire tenant billing for HVAC Control is managed on a real-time basis, giving them control over their bills, while also ensuring timely payments.
Long-Term Planning and Cost Savings
The improved features of the Tenant Billing system make property management easier. The ability to generate timely invoices for various charges that tenants may encounter each month will save time, reduce confusion regarding rate schedules, and facilitates on-time payments. The feature for powerful rate scheduling gives landlords and property managers the capability to create comprehensive invoices under specific heads that include any recurring charges, storage fees, parking fees, maintenance charges, and more, in addition to the monthly rent charge. This will save time and eliminates unnecessary charges, thereby leading to significant cost savings.
Improvement in Maintenance
The billing module monitors the dynamics of managing facilities, where unexpected spikes in power consumption and maintenance bills are proactively managed by real-time monitoring. This minimizes impact and allows facility managers to attend to HVAC control and proactively manage the HVAC units; light control systems, AC controls, and other critical equipment immediately.
Transparency in Billing
Building automation for streamlining tenant billing has many added benefits. It increases transparency by highlighting inefficiencies and reconciliation of bills by also providing web access to both building owners and tenants. The dashboard view offers visualization of the power consumption on a real-time basis and presents tenants with transparent utility usage reports. Besides, since the tenant billing system is built on the efficient Niagara platform that makes the reconciliation of utility bills easier.
Let us Bring Efficiency to Tenant Billing Management
Messung provides robust technology solutions on the Niagara framework that serves as a central console for streamlining billing processes for tenants in multi-tenant establishments. Its built-in features of this framework aim to automate the billing process and improve transparency, from the initial stage of developing billing methodology to the collection.
The benefits are measurable as the Tenant Billing system has enabled several companies and facility managers to move from cumbersome spreadsheets to automated data collection using sub-metering and generate utility bills. Besides, it allows for timely billing, facilitates the prompt payment collection, and allocates costs to tenants accurately.