Shortcomings of Manually Entering Utility Bill Data
January 13, 2021
Organisations have long struggled with the task of collecting data from disparate utility providers. With big data, sustainability and reducing energy costs, it should be easier than ever for organisations to access the energy data they need to make smarter, more profitable energy decisions, but many still resort to manually entering utility data.
Manually collecting and entering utility bill data comes with several shortcomings, all of which are magnified by the enormous amount of data that’s available today. Specifically, a manual approach poses eight critical limitations:
- It is more time-consuming.
- It is more prone to errors.
- It limits visibility.
- It lacks granularity and depth of data.
- It creates a lag in data reporting.
- It leads to high soft costs.
- It poses logistical and user experience challenges.
- Overall, it increases abandonment rates.
The adoption and use of technologically-advanced, automated solutions has been accelerated due to advances in AI and alternative data and has now become the norm. Companies are no longer discussing “if” they should integrate them, but “how”.
Industries of all kinds have already embraced automation to overcome challenges related to data access, operational efficiencies and organisational silos; it’s time the same practices became standard for utility providers.
Check out our infographic below where we further explore the shortcomings of manually entering utility bill data:
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<p><a title="Manual Data Entry - Acuant" href="https://hellosoda.com/blog/shortcomings-of-manually-entering-utility-bill-data/"><img style="max-width: 850px;" src="https://www.acuant.com/wp-content/uploads/2021/05/Short_Comings_of_Manually_Entering_Data-1.jpg" alt="Manual Data Entry - Acuant" width="100%"></a></p>
How we can help
Here at Acuant, our automated solutions support businesses in creating a smoother, safer onboarding experience for their customers. Our product suite and single, universal API, can help you securely verify up to 68% more customers than with traditional, manual identity verification methods.
Acuant’s one simple, global solution, Sodium enables customer verification in real-time. Utilise a single element or multiple processes – it’s entirely up to you. Learn more about how we can help to automate and simplify your verification processes to help you gain a better understanding of your customers.