What is a utility bill extract?

Portrait of Neha Gunnoo
by Neha Gunnoo
4 mins read
last updated on

Key takeaways:

  • The average cost of utilities for commercial buildings is $2.10 per square foot.
  • If you process utility bills every month, then using an AI parser is your best shot.

Ah, utility bills! They are our first indication that we have transitioned into adulthood and cannot escape them. Picture this: You're sifting through your mail, and there it is, lurking among the junk flyers and magazines—your utility bill.

Now, I’ll assume you work for an enterprise that must process those essential documents monthly and, you’re looking for a smarter way to do it.

We understand that manual extraction of utility bills is always a painful and challenging task.

What is a utility bill?

A utility bill is a detailed monthly invoice issued to individuals and companies. It can be the electricity bill, phone bill, water and waste bill.

The document is simple and easy to understand until you get to the point where you need to analyze the consumption. Now, this is complicated since a company doesn’t receive only one utility bill.

What information does a utility bill contain?

A typical utility bill includes the customer's name, address, account number, and the amount owed. The utility cost depends on the service provider and the consumption used.

Did you know that the average cost of utilities for commercial buildings is $2.10 per square foot?

Why does the utility bill extract matter?

Utility bills are like those monthly visitors that demand attention to detail. From electricity to water, these extracts reveal the financial chapters of your business life. In many countries, utility bills are used as proof of residence and companies need to parse those bills from their customers to check whether the address they entered when signing up match the one on the bill.

One minor mistake can cost the company millions of dollars. No, we’re not kidding.

Utility bill extracts are also your eco-friendly sidekick. They highlight your energy consumption and give you the power to make greener choices.

Have you ever noticed a sudden spike in your utility bill?

Understanding the extracts acts like a financial radar, alerting you to unusual trends. It's not just a bill; it's your early warning system for potential budget storms.

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Why is my utility bill so much?

Ultimately, understanding utility bill extracts is your path to financial empowerment. It's not just about paying bills; it's about controlling your money, making informed decisions, and building a stronger financial future.

Understanding utility bill extraction is complex and requires AI

Utility bill extracts are simply extracted or parsed data from those documents. When you receive a utility bill, the data is usually in unstructured form, which is challenging to process and analyze.

Automated data extraction from utility bills with AI

AI has integrated into every industry for the past few years and made everyone’s life easier. The key is to choose the right AI tool that fits your specific needs and, one such AI solution is Parseur.

How does Parseur help with utility bill extraction?

If this is the first time you’ve heard of Parseur, let me tell you that it’s going to be your BFF by the end of this article.

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In the loving memory of Matthew Perry

Parseur automates data extraction from utility bills automatically with its powerful AI engine. It converts unstructured data into structured data that can be used easily for further analysis.

Extract data from utility bills with AI
Free to start with. All features are enabled on our Free Forever plan!

Do I need to train the AI model?

Calm down; we don’t do that here.

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Listen to Black Panther, please.

Parseur is an easy-to-use AI parser where you don’t need to spend hours training the AI model. It can understand you without a word.

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Do you understand what I'm saying?

Once you’ve created a utility bill mailbox, just upload the utility bill, sit back and relax. Parseur knows what it’s doing; the AI engine has been trained to make your work week easier.

What fields does Parseur extract from utility bills?

Parseur can extract the following information:

  • Account number
  • GST number
  • Statement number
  • Customer details (name, address, phone number)
  • Usage (unit count, unit price)
  • Utility company
  • Tax amount
  • Total amount

Utility bill extraction is done

You also have the option to list specific fields that you need and teach Parseur how to become your assistant.

Extracted data from utility data

Extracted data from utility data

What if I need to send the data to another application?

Use Parseur’s native integrations with Zapier, Make, or Webhook. We have a solution for everyone.

Read more about the steps to extract data from utility bills with AI

Is Parseur free?

If I’m being honest, there is no such thing as a free lunch. But, since we have a big heart, you can try the AI engine on our free plan.

Want to check how much time (and money) you can save with Parseur?

Try our simulator

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Next time you receive tons of utility bills to process, remember that you don’t need to go through this alone. Parseur will be here by your side. You’re no longer in the dark about your energy usage, water consumption, or those mysterious 'extra charges.'

AI-based data extraction software. Start using Parseur today.

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