WORCESTER, MA--(Marketwire - Nov 29, 2012) - World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today introduced Bill Management, a new offering for businesses that streamlines the collection, review, payment and ongoing analysis of electricity and other utility bills. Building on World Energy's current success with billing solutions, Bill Management now provides energy managers and other internal stakeholders with an energy data and billing dashboard. This online, centralized view of billing and usage data delivers the automation and support needed to significantly reduce the time and expense associated with reviewing and paying bills.
A 2010 study by Forrester Research concluded that the average cost of manually processing and paying invoices is on the order of $30 per bill. With Bill Management, World Energy can help cut that cost significantly, a boon for customers with multiple sites and managing hundreds of bills per month. An added benefit is the online presentation of all billing data, allowing customers to recognize and track usage patterns, assisting the pursuit of energy efficiency. Additionally, because the billing service is bundled with World Energy's energy procurement offering, no up-front or separate fee is required; instead Bill Management can be financed through a small monthly charge on the customer's energy bill.
Available immediately, Bill Management includes the following key features:
- Energy Data and Billing Dashboard: The dashboard enables customers to view their energy information online, including usage by facility and images of their utility bills;
- Advanced Reporting and Analysis: The service helps users easily compare sites across any utility type and spot outliers to enable smarter business decisions;
- Bill Validation and Payment: At its core, Bill Management ensures prompt, accurate payment of utility bills through the use of scalable technology and processes;
- Error Resolution: The Bill Management software automatically identifies possible errors and helps speed their resolution; and
- Invoice Reconciliation: For the most complex bills, the World Energy team can analyze and reconstruct tariffs, as well as fully recalculate bills from scratch.
"World Energy has a strong track record of working closely with its customers to successfully meet their energy management needs, and our latest bill management offering both deepens this commitment and broadens our service capabilities," said Martha Danly, Chief Product Officer, World Energy Solutions. "Providing advanced monitoring solutions like Bill Management is a logical next step in our development as a leader in energy management and a move that is being welcomed by customers."
For more information on the World Energy Bill Management service, please see www.worldenergy.com/bill-management.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $30 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative's (RGGI) cap and trade program for CO2 emissions. For more information, please visit www.worldenergy.com.
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to the following: our revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.