The growth of the cloud has been exponential, with software as a service (SaaS) becoming increasingly popular among businesses and consumers. This trend is particularly true for utilities, which are often considered commodity products with little room for innovation or differentiation. However, there’s more to it than meets the eye, and a SaaS model can be used to transform the utility industry by making it more efficient, easier to use, and more profitable for all parties involved. Let’s take a closer look at how this is possible.
How Submetered Utilities Work
Submetering is the practice of measuring and billing individual customers for electricity, water, gas, or other utilities. It can be used in residential and commercial buildings to track energy usage by individual tenants. And it can also be used in large buildings to track energy usage by individual departments.
For example, a business may have three departments, the front office, accounting department, and warehouse, each with its own power needs. It makes sense that each department should pay for its electricity instead of paying a single rate for all the lights turned on throughout the building. It is where submetered utilities come into the picture.
Submetering allows you to measure how much energy each tenant consumes in real-time. This information helps you monitor your energy use and know where savings opportunities exist. Like where savings are coming from (such as LED lighting) and whether new technologies deliver promised results before making more significant investments into more complex systems like smart meters or solar panels.
How SaaS Enables Submetering
SaaS is a significant and influential concept, but it’s not so hard to understand. The idea behind SaaS is that you use the software as a service instead of buying and installing your software on your hardware.
You don’t have to worry about firewalls, maintaining backups, handling updates and security patches, or upgrading physical infrastructure (like servers). It’s all managed by the SaaS provider for you, making it easy for small businesses and large corporations to take advantage of the benefits of cloud computing without having significant capital investment costs upfront.
It also means that there are fewer reasons why anyone would want their own IT department or at least no good ones. With a SaaS solution in place, everyone can easily access what they need from wherever they need it while paying only for what they use each month, billing is automated, accounts are managed automatically, and customer service can be handled internally or outsourced as needed.
How SaaS-Enabled Submetering Improves Operations
Submetering gives you more control over your energy usage. With a SaaS-enabled submetering system, you can more easily identify the most wasteful areas of your business and implement changes to reduce them. Submetering also helps you reduce costs by identifying the least efficient devices or processes and replacing them with more efficient ones.
Submetering can help improve efficiency and reduce carbon emissions, particularly in large facilities with multiple tenants or departments that use different amounts of energy at various times throughout the day. For example, a school with numerous classrooms used during different periods throughout the day or an office building where some tenants may use more electricity than others at any given time.
How SaaS-Enabled Submetering Improves Sales
You can use the data your SaaS-enabled submetering solution provides to understand your customers’ needs better and then offer them custom plans tailored to their usage patterns. For example, let’s say you’re a utility company with residential customers who subscribe to different plans based on how much energy they consume each month. You might have some customers who use more energy than others, but not enough for you to justify offering them a more expensive plan.
SaaS Is Crucial for Submetered Utilities and Property Managers
Software as a service (SaaS) is an essential technology for submetered utilities and property managers. It enables submetering, which leads to better operations and greater sales. It helps utilities reduce costs by distributing energy consumption data to tenants. It gives them control over their energy use, and they can take measures that lower their bills.
It also allows tenants to save money using less power, especially during peak times when electricity prices are highest. If a business cuts power usage during peak hours, it’ll pay less than if it used the same amount at off-peak hours, or sometimes even nothing, thanks to subsidies provided by some utilities.
SaaS can help you save time and money by streamlining your business processes. It’s a great way to integrate everything you need in one place (like billing, inventory management, and CRM). Other benefits include flexibility, scalability, and improved security. Using SaaS solutions, you can ensure your business is running smoothly and growing.
Many people overlook the benefits of this kind of technology when it comes to sales operations because they aren’t aware it exists yet or don’t know how much better it can make their lives. But with all these benefits, from reduced data entry and better customer service through streamlined communication channels. It’s clear why so many companies choose this option over traditional spreadsheets or simple word processing programs like Microsoft Word that only do one thing well but not others at all.