Each month, FS Energy receives and pays bills from hundreds of managed properties, many of which have multiple services (electric, gas, steam) and can also have multiple accounts for each location.
Information from the energy bills is collected by the Data Analysis Department in order to predict costs, determine efficiencies and search for overcharges. The original process was problematic and cumbersome because bill summary data from energy bills was looked up and then manually entered into an energy management software for processing. Because of the high volume of bills, data analysts had little time to enter all of the desired data; they were forced to only collect summary data from their largest provider.
FS Energy had already attempted to create an automated solution, but another vendor was not able to meet the requirements. IMR Digital’s years of experience in document capture enabled the project team to take a different approach and create a successful solution to a challenging problem.
Now, utility bills are prepped and scanned by an operator. A module automatically separates the batch into document sets and classifies the document, which is then reviewed to ensure that every document is correctly classified. Specific metadata is then automatically extracted before the document is sent to the validation module, where indexes are verified and documents with variations are submitted for online learning. PDF images are created and an IMR Digital custom export process parses the extracted data into a format suitable for automatic import into FS Energy’s energy management software.
About FS Energy
FS Energy, LLC is the energy management and advisory subsidiary of FirstService Corporation. FS Energy applies state-of-the-art data analysis to evaluate a property’s energy consumption and customize cost-effective solutions to reduce energy expenses, increase efficiency, and minimize environmental impact. Using a proprietary benchmarking database, FS Energy strives to reduce the energy costs and carbon by 25% across client properties.Tags: