Industry studies* show the average company spends more than $12 to process each invoice, and takes 16 days to pay the bill. Most of this expense comes from time spent on performing low-value activities such as opening the mail, copying, scanning, coding, approval routing and cutting checks.

Velocity Utility Invoice Processing typically reduces the cost to process utility invoices by 50% and drastically reduces late fees through faster processing times. For a management company that processes 1,000 utility bills monthly, for example, the savings could be up to $72,000 per year. Velocity:

• Receives and tracks every utility bill—making sure no bills are missed
• Alerts you of anomalies in cost or consumption so you can address potential problems
• Pays your bills on time, reducing or even eliminating late fees

Velocity Utility Invoice Processing works with all major property management software. If you use it with OneSite Leasing & Rents, Velocity is embedded in the property management software, providing tighter integration.
*according to the Institute of Management and Administration (IOMA)

While Velocity’s expertise falls into the utility billing category, Ops Technology offers paperless invoice processing for all your other bills. If you’re interested in learning more about processing your other bills, visit the OpsTechnology site.