We have seen a lot of scenarios where utility wastage occurs, it can lead to a heavy utility bill, and it can shake your monthly plan, that is why it is important to take care of it otherwise your business will not run smoothly. Utility tracking software can be extremely helpful in these types of scenarios. What exactly is utility tracking software and how can it boost the productivity of your business? You will learn in this blog so let us begin!

What Is Utility Tracking Software?

Utility tracking software or utility management software keeps track of utility. These types of applications are helpful to organizations by saving unnecessary wastage of utility. It decreases utility bills and with detailed reports, it can forecast utility with records.

Utility costs make up one of the biggest working costs of running a structure. For quite a while, these expenses were thought to be fixed – the service bill came every month and there was no way around it.

There are several types of utility tracking & monitoring system. A few frameworks store utility-related documents, while others empower issue identification through gear level force utilization readings.

Some software enables you to set alerts and notifications so that whenever allotted units are consumed the system will alert the team so that overconsumption can be avoided.

Also Read: Features, Benefits & Impacts of Utility Management on a Business

For reasons for dealing with the service bills for an arrangement of structures, receipt stockpiling might be adequate. Notwithstanding, to further develop energy productivity, better information and investigation are required.

According to Statista, “the size of the utility software market worldwide, from 2018 to 2024. In 2019, the utility software market was valued at 4.8 billion U.S. dollars globally.”

Size of the Utility Software Market Worldwide, from 2018 to 2024

How Can Utility Tracking Software Increase Your Business Productivity?

We have discussed below how utility tracking software can increase your business productivity:

Benefits of Utility Tracking Software in Business

1. Tracking Utilities of Multiple Locations

In order to increase productivity, it is important to keep track of the utility of all locations otherwise it can impact your monthly expenses bill.

Utility tracking & management software assists you identify all the utilities in all facilities. Tracking utilities also helps in controlling utilities which means you can save money.

2. Forecasting Consumption

Organizations sometimes consume a lot of utility, sometimes very little, and sometimes average so organizations are unpredictable.

However, when you are equipped with this utility management software you can easily keep track of utilities that will be helpful in controlling utilities.

Moreover, it will provide crucial data through which you can forecast utility consumption.

3. Prioritize & Schedule a Work Order

A work order can be a small task of maintenance or some other task or it can be a long, hectic time-consuming task.

Work order contains the checklist & all the tasks that need to be done are mentioned so the team can perform the task and cross-check it and update the status at the same time.

Moreover, the manager can set the priority of each work order that helps the team to deliver quality and productive work.

Also Read: Is Utility Asset Management an Expense or a Liability?

4. Alert & Notification

Now you do not have to keep track of utility manually as this software will do it for you easily. This software enables you to set alerts & warnings so that whenever the utility limit is about to finish the system will notify you.

You can save from unnecessary spending and maintain utility bills easily. This feature is immensely helpful to organizations in order to increase productivity. Once this system is enabled your utility wastage will also decrease.

5. Utility Reports

Reports can play a crucial role in increasing productivity however they need to be accurate otherwise they will be effective.

Reports offer a complete view of the expenses; it lets you know all maintenance expenses; utility expenses. These reports assist in controlling your expenses.

What Are the Benefits of Asset Infinity’s Utility Tracking Software?

Benefits of Asset Infinity’s utility tracking software are given below:

  • Deliver consistent service in a cost-effective manner.
  • Achieve long term sustainability of water cycle systems.
  • Assist utility manager to make better decisions.
  • Receive warning to avoid utility overconsumption via SMS, email & notification.
  • Detailed utility consumption reports.
  • Record utilities reading in real-time.

Conclusion

Utility management software is also a type of asset management software. It can be helpful in many ways. Most importantly it can play a significant role in increasing productivity for a business.

You can optimize your utility cost bills and their maintenance expenses with the help of software. Utility management software assists you in saving money. There is no doubt that this software will be helpful to your business and in the long term, your utility will be stabilized.

Utility tracking & management software comes with cloud technology. You can access it from your smartphone as well.

It means that you can access data from anywhere, all you need is good internet so that you can make changes in the work schedule on a priority basis. When you are on an inspection tour you can make changes or scheduled maintenance work orders as per the inspection.

You can manage your utilities from your smartphone & add or update details as well. You can see reports for better understanding and make crucial business decisions.

Also Read: What Do We Need to Know About the Asset Reservation System?

Frequently Asked Questions (FAQs)

1. How to identify which software is best for your organization?

The first step is to identify your requirements, then you can think about purchasing the software then look for options that are providing software that you are looking for. Look what are the additional features they are providing. Then shortlist compare and evaluate to get the best software.

2. What are the industries that use utility management software?

All industries can use utility management software because they all have electricity, water, and energy consumption. Therefore, all industries can utilize this software.

3. What are the roles and responsibilities of utility managers?

Roles and responsibilities of utility manager are:
1. Manage solid & liquid wastage
2. Transmission & distribution of electric power
3. Creating a plan & handling utility operation
4. Taking action quickly in emergencies