Verdafero’s Cloud-Based Utility Analytics Software Saves Tech CU $20,000 in Utility Costs

How Verdafero Helped Tech CU Recover $20,000 in Utility Overcharges

Utility Analytics improves efficiency while supporting environmentally sound business practices.

San Francisco, CA (October 18, 2014) — For Silicon Valley-based Tech CU, responsible corporate citizenship means aligning sound business practices with community and environmental stewardship. To improve efficiency across its facilities, the credit union implemented Verdafero’s cloud-based utility analytics software. The platform monitors and analyzes electricity, natural gas, water, waste, and fuel data across multiple branches—giving Tech CU clearer reporting and actionable insights.

Immediate Impact

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, water scarcity and rising utility costs 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.”

Media Contacts

Alastair Hood, Ph.D., CEO
Verdafero Inc.
alastair@verdafero.com
www.verdafero.com