Budget Forecasting

The invoice data held within UtilityTrak™ provides a rich source of financial information, and its budgeting capabilities are ideal for predicting future energy costs and then keeping track of progress through the year. Its use extends to dedicated managers controlling an operations budget, to teams of management accountants responsible for entire corporate budgets.

A history of invoices going back many years provides the basis for predicting future energy consumption and costs. This means that all users have the opportunity to monitor their budgets, even where time is limited. Budget predictions within UtilityTrak™ can be set up for any financial year, either manually, automatically with inflation adjustment based on a previous year, or imported from an external system.

Where half hourly data is available, budgets can be calculated based on this detailed data together with the applicable contract tariff rates. UtilityTrak also allows us to create provisional or pro forma invoices based on half hourly data and the contract tariff, so that you can have an accurate indication of the expected invoice within a few days of the end of the month for accurate and timely completion of management accounts.

Once the financial year commences, these targets can be tracked via reports and graphs for individual sites, groups of sites, or all sites, so that any level in an organisation can be monitored effectively.

Exception reports highlight sites that are exceeding budgets, whilst other options allow for budgets to be refined as the year progresses so that adjusted end of year