Time to start processing your PPAs again. It is an inevitable part of renewable energy management. Although a simple and routine task, someone must do it. This process takes too much time and is susceptible to error.
Modern Solutions for the PPA Invoicing Pro
Julia Maciunas | 3megawatt
Reprinted with permission from 3megawatt:
It is about that time - you must start processing your PPAs again. It is an inevitable part of renewable energy management. Although a simple and routine task, someone must do it. This process takes too much time and is susceptible to error. It usually involves pulling several performance reports from different monitoring systems and manually adding the information to spreadsheets. You will then send these reports to your accountant. They approve, print, and send the invoices. This is the best case scenario, but of course error occurs and it complicates the process. Preparing your PPA invoices doesn't need to be so painful.
Automating your invoicing system
The answer is to digitize and automate your workflow. It sounds complicated but is actually very easy to do with the right tools. The amount of data at our fingertips and the APIs, that act as the waiters to conveniently deliver this data, connect us to everything necessary to process this information without a single sheet of paper. This means you can even start sending your invoices via email. It can all be done with a renewable asset management solution like BluePoint that offers an integrated invoicing function.
Compatible with your current account system
User error prevention
BluePoint will notify you if it sees an error in your invoices
Connects directly to your plant’s performance monitoring systems
In BluePoint you will register your assets and associate contracts, rate schedules, and performance data to your plants. BluePoint can now generate proper amounts every month using the rate generator function. Accountants can even use your company’s personalized invoice templates in BluePoint so everything stays consistent.
The monitoring data will populate from several systems into the platform via APIs, that pull performance data directly from your plants. This performance data is used to generate reports and manage your performance but it can also be used to generate invoices, automatically! You and your accountant can review the automatically generated invoice and after it has been approved they can be sent via email. There is always an option to overwrite and create the invoice manually but ideally you are generating these automatically month to month. Since all of your important contacts also live in BluePoint the system works flawlessly to deliver accurate and reliable invoices while being compatible with your own accounting systems such as Quickbooks. The financial management tool will ensure that everyone on your team is in the loop.
Start automating your invoices and spend more time finishing those tasks you haven’t had the time for. We also hope it gives you the opportunity for that much deserved coffee break.
The content & opinions in this article are the author’s and do not necessarily represent the views of AltEnergyMag
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