What is Utility Management Software?
Utility management software is a specialized digital tool that helps organizations efficiently manage their utility services and resources, such as electricity, water, gas, telecommunications, and similar services required for their operations. The software tracks utility usage, computes billing and invoicing, and optimizes resource utilization to minimize costs and meet sustainability and compliance efforts.
Benefits
Although it is difficult to estimate how much a company would spend on their utility until they start to pay, this expenditure could amount to 10 to 20% of the total operating costs. Given that this represents a significant amount, property managers, business accountants, and utility companies are always finding ways to optimize these resources better. And this is where the software solution can help..
Enhances resource allocation and utilization – Robust data analytics help companies identify sources of wastage, predict peak usage times, and forecast rising prices. The software also aids in monitoring the asset conditions with maintenance alerts since malfunctioning equipment uses more electricity.
Saves up on costs – Automation is proven to streamline various administrative tasks, including tracking the company’s monthly usage and reviewing bills to calculate expenses. Aside from equipment monitoring for preventive and predictive maintenance, some systems also incorporate sensors that help reduce consumption, like occupancy detectors for HVACs and lighting and automatic shut-off valves for increased water flow.
Promotes environmental sustainability – Excessive use of energy and natural resources negatively impacts the environment. This digital solution does not just help companies reduce consumption, minimize waste, and adopt eco-friendly practices; it also aligns with environmental regulations set to reduce their carbon footprint.
Key Features
Applications for utility management have unique features that cater to the specific needs of organizations dealing with utility resources. When shopping for this software solution, make sure it has the following to ensure the precise tracking, analysis, and optimization of resources while ensuring adherence to industry-specific regulations.
Utility tracking (e.g., meter data monitoring)
Asset monitoring
Sensor integration
Invoicing and billing management
Energy analytics
Forecasting and predictive analytics
Environmental impact assessment and other reports
Communication capabilities
Compliance tools
Mobile accessibility
Choosing the Right Utility Management Software
Aside from carefully reviewing the features offered by the platforms discussed above and determining which suits your needs best, ascertain that your final pick fits the budget the company has set. Take another look at your options below.
Utility Management Software | Free Version | Paid Plan | Mobile App |
SafetyCulture | Yes | $24/user/month* | Yes |
EcoStruxure | No | $60/device/year | Yes |
Sensus | No | Contact for pricing | Yes |
Itron | No | Contact for pricing | Yes |
AclaraONE | No | Contact for pricing | Yes |
Oracle Utilities | Yes | Contact for pricing | Yes |
ABB Ability | No | Contact for pricing | Yes |
Landis+Gyr | No | Contact for pricing | Yes |
Eaton Brightlayer Experience Hub | No | $1,290 for 15 UPS or rack PDU nodes + $48 subscription fee per year | Yes |
*billed annually
