tepa presentation supplier payment headaches
DESCRIPTION
A review of the current state of the accounting side of the deregulated energy business (aggregators, brokers and consultants), and a walk through of how Entrance Software's product, CORE simplifies this process for these retail energy brokers.TRANSCRIPT
Remittance Data Standardization
An answer to supplier payment headaches
Agenda
Entrance Software: Who are we?
Supplier Payments: Goals & Challenges
CORE: Current Approach
What We (TEPA) Can Do About It
Who are we?
Houston-based Software Consulting Company
Microsoft Gold Certified Partner
HBJ’s Fastest Growing tech companies:
2006: 16th place
2007: 15th place
2009 Inc. Magazine “Inc. 5000” list
Associate Member of TEPA
Goals and Challenges
Challenges
Goals
Goals• Timely• Accurate• Complete
Challenges• Data format:
• Varies by REP• Varies month to month• Not consistent
• Inaccurate• Incomplete
Data: General Challenges
Format
• No Two suppliers are alike… or even SIMILAR!
• Some formats literally change monthly from the same supplier
Detail
• SOME suppliers do not offer meter-level detail
• MOST do not offer Contract details
• MOST suppliers do not offer discounting detail
• MANY suppliers do not offer true-up/claw-back detail
• MANY suppliers do not offer credit detail
Consistency
• One file vs. Multiple files
• Bill Month vs. Meter Month
• Fee earned vs. Fee collected
• Discount Application
• True-up explanation
Specific ChallengesWhat are we seeing today that makes us mad?
Formats Different Every MonthHow can we keep up?
Jan
Feb
Mar
Apr
May
Jun Jul
Aug
Sep
OctNovDec
Payment Amount != Usage * Fee?
$2 + $2 = $3?
Many suppliers do not offer enough quantitative data to explain why usage * fee != payment…. Discounts, adjustments, true-ups, etc.
CORE: Efficient Energy
100% Secure & Web-based
CRM & Sales automation
Online LOAs + Fax/barcode
Automated usage analysis
Automated tariff forecasting
Branded sales reports
Simplified commissions
REP Payment reconciliation
Reconciliation in COREStop the insanity!
$ Import Data
1) Create a PaymentAccounting User Logs In
Creates a Payment
Enters Payment Line-Items
Saves Payment
2) Upload a RemittanceCreate “import” page in original
file
Upload to CORE
Matching items are matched
New meters can be matched by
user
3) Reconcile ReceiptsReconcile on
Summary
Reconcile on Timeline
Look for Late or Missing Payments
Save as PDF or Excel
4) Pay CommissionsSelect Date
Range
Select Individual or Team
Run Report
Save As PDF or Excel
What Can We Do About It?
Data standards are common in other verticals (healthcare, energy)
We have the beginnings of aproposed standard format
We would like to form a working group to develop this further and submit a standard to be adopted by TEPA
The benefit would be complete, compliant, cogent data for all!
Entrance Software
Contact Info:
CORE Website: http://core.entrancesoftware.com
Entrance Website: http://www.entrancesoftware.com
Email: [email protected]
Phone: 713-357-4930
Snail Mail: 1001 McKinney St. Suite 750Houston, TX 77002