P3P Partners (“P3P”) own and operate sites in the energy, waste and indoor growing sectors in the UK providing design and build expertise with 100% financing of construction costs.
They have built and now operate over 70MW of combined heat and power generation on glasshouses, hotels and industrial sites across the UK, as well as 5MW of solar and 6MW of reserve power.
P3P became Captrics’ first UK customer shortly after Captrics established a UK presence in 2019.
P3P’s objectives were focussed on the multiple gas and electricity contracts they operate as a core part of the ongoing management of their projects. Their goals included improving the efficiency and integrity of their contract administration, automating and strengthening invoice validation activity and seeking further insights into contract data to help establish additional cost saving opportunities.
Working With Captrics
Utilising some of the most flexible energy contracts available in the market, P3P’s contracts include exposure to ‘pass through’ non-commodity costs and dynamic commodity charging mechanisms. This makes supplier invoicing very complex. So complex that suppliers often turn to manual, Excel spreadsheet-based methods for invoice creation, as their billing engines lack the flexibility to handle the bespoke contracts.
Recognising that invoice accuracy is crucial to ensuring great investment returns, Captrics’ software has been implemented to capture the data of all stakeholder organisations, sites, meter points, contracts, invoices and meter data and run in-depth analysis of invoice accuracy.
Captrics have also been able to build a bespoke, automated validation process for checking consumption data. Comparing invoice data to their internal meter loggers has not only provided P3P peace of mind but also saved them large amounts of time that was spent on manual checks.
Benefits To P3P Partners
- Comprehensive Validation – Prior to working with Captrics, time restrictions meant P3P were only able to do basic manual spot checks of invoices, these have been replaced by in-depth, automated validations.
- Historic Audit – Captrics’ software checks month-to-month invoices as they arrive, but they were also able to check P3P’s invoice history to discover further cost recovery opportunities.
- Flexibility – Additional data sets were easy to implement and reports could be quickly created aligning with business needs.
- Administrative Efficiency – With multiple sites across the UK and complex invoicing, P3P spent large amounts of time administrating their contracts. Captrics’ automated solution has led to significant efficiency gains and improved productivity.
- Market Knowledge – Captrics’ market experience and knowledge has helped P3P better understand their contracts and has provided valuable optimisation insight.