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From data to dollars: Benchmarking for a better bottom line across your portfolio
By Peter Altobelli, Vice President and General Manager, Yardi Canada Ltd.
You can’t manage what you can’t measure, and the numbers prove it. Simply benchmarking your building—without major retrofits—can reduce energy use by 2.4% per year, adding up to 7% over time. That’s $600 to $1,750 in annual savings on a $25,000 electricity and gas bill, according to the City of Newmarket. More than a regulatory requirement, energy and water benchmarking helps property owners uncover inefficiencies, reduce costs, and improve sustainability across their portfolios.
The need for accurate and efficient benchmarking is growing, driven by government mandates and increasing investor expectations for transparent sustainability data. Yet, despite the financial benefits, the process can feel like a maze of spreadsheets and manual entries, especially for property managers balancing daily operations.
Key challenge: Data management
Gathering utility data from multiple sources, such as spreadsheets, utility bills, and on-site meters, can be complex and time-consuming. Manual entry often leads to errors, particularly in older buildings with outdated metering systems. Even in newer properties, inconsistencies can arise without a streamlined verification process.
Enhancing efficiency
Direct API integrations with Canadian utility providers form the foundation of automated utility invoice processing. This ensures efficient data retrieval, significantly reducing manual effort and the potential for human error, and freeing up valuable staff resources. This foundation provides real-time data, which then supports a suite of comprehensive reporting capabilities.
Insights into energy performance and sustainability metrics, moving beyond traditional annual reports, offer a more dynamic view of energy usage. Real-time data allows for continuous monitoring of energy consumption, enabling proactive responses to peak demand spikes and equipment malfunctions. Furthermore, automated invoice processing includes rigorous checks to identify errors like overlapping billing dates or misapplied payments. Issues are resolved directly with utilities, ensuring accurate cost and consumption data. The technology also serves as a centralized data repository, enabling detailed analysis of weather-normalized data and greenhouse gas emission reports. Property attributes, such as square footage and occupancy, are integrated to generate customized energy and sustainability reports, offering a comprehensive view of whole building performance.
Strategic advantages and operational insights Benchmarking initiatives offer a strategic advantage, driving down utility costs, prolonging system lifespans, and boosting investor
confidence. By pinpointing high- and lowperforming assets, strategic capital improvements become possible. Data analysis further enables the anticipation of equipment failures, minimizing costly repairs. Moreover, showcasing sustainability efforts attracts both tenants and investors who prioritize eco-friendly properties. For example, real-time data monitoring delivers actionable insights via automated alerts, notifying users of consumption anomalies for prompt investigation and resolution. Integration with work order systems enhances maintenance and issue tracking. The platform would also provide detailed data analysis and reporting, including cost and consumption breakdowns, enabling thorough portfolio benchmarking. Data export capabilities ensure seamless integration with third-party platforms.
When conducting external benchmark reports is most effectively streamlined through automated data exchange, it is easier to make comparisons against industry benchmarks and provide key metrics such as energy use intensity scores. The right technology simplifies the acquisition of challenging aggregate whole-building data, ensuring comprehensive regional reporting. Furthermore, it consolidates and manages data, incorporating features for entity assessments, data uploads, and error checks to ensure accuracy. The future: Sustainable and efficient management
Managing energy and water usage is no longer optional. Automating data collection, centralizing whole-building information, and leveraging analytics streamline compliance while reducing costs. By embracing technology, property owners can simplify reporting, improve efficiency, and drive long-term savings.
To explore your technology options and achieve operational excellence, visit yardibreeze.ca.