Verdafero’s Cloud-Based Utility Analytics Software Saves Tech CU $20,000 in Utility Costs
Utility Analytics improves efficiency while supporting environmentally sound business practices.
San Francisco, CA (October 18, 2014) — For Silicon Valley-based Tech CU (Technology Credit Union), being a good corporate citizen means aligning sound business practices with responsible community and environmental stewardship. To help drive greater efficiency within its facilities, the credit union recently implemented Verdafero’s cloud-based Utility Analytics software, which monitors, analyzes, and tracks electric, gas, water, waste, fuel and carbon footprint expenses across all branches.
Verdafero’s Utility Analytics gave Tech CU a better understanding of its utility use throughout the organization and the credit union can now manage that use more efficiently. In addition, the software revealed an overcharge of $20,000 in utility costs that Tech CU was able to recover.
Tech CU’s Vice President of Information and Administration, Kevin Alsup leads the organization’s facility efficiency efforts. “By improving the visibility and reporting of our utilities across multiple locations, we gain a lot of insight into where we can save money,” he said. “With Verdafero’s software, we don’t have to spend several hours a month analyzing our utility bills for every branch — the information is available at the touch of a button.”
Alsup elaborated, “As an example, Verdafero’s active alerts automatically notified me of a problem at one of our branches. Our engineering staff was unable to identify the exact cause. Upon further investigation, we found that it was a problem with the meter, resulting in an overcharge of almost $1,800 per month, which we were able to recover from the utility due to the reporting features of the software.”
Verdafero Monitors, Analyzes, and Visualizes All Utility Spend
Verdafero was designed to enable businesses to reduce their environmental footprint, increase net cash flow by cutting operating expense, and increase asset value.
“As rising utility costs, lack of water during this year’s drought in California and public opinion drive the need for a more sustainable future, we see that the financial sector is not immune to the pressures of having to reduce its environmental impact while saving overhead expenses,” said Dr. Alastair Hood, CEO of Verdafero Inc. “Tech CU now has the unique ability to track, analyze and report their entire utility usage and cost comparisons in real-time. Our technology gives management the ability to analyze, compare and report on all sustainability metrics across all their facilities, including energy, water and waste.”
Founded in 1960 by the employees of Fairchild Camera and Instrument Semiconductor Division, Tech CU has served the high tech workforce in Silicon Valley for more than 50 years and today has 70,000 individual, non-profit and business members and more than $1.8 billion in assets. The financial institution is recognized as one of the best managed and strongest in the country, as indicated by Tech CU’s 5-star rating from Bauer Financial, the nation’s largest independent rating service for banks and credit unions. Tech CU’s members have access to 65,000+ surcharge-free ATMs nationwide, online and mobile banking, 10 full-service branches throughout the Bay Area, and comprehensive mortgage, wealth management and commercial banking services. To learn more about Tech CU, visit www.techcu.com
About Verdafero Inc.
Verdafero Inc., based in San Francisco, CA, is a software and services provider focused on helping organizations save money through optimization of their entire utility expenses, including electric, gas, water, waste, fuel and carbon footprint tracking, across their entire organization through the use of their cloud based Utility Analytics Platform.
For more information visit www.verdafero.com, or call (+1) 650 206 2441.
Alastair Hood, Ph.D., CEO