Alden One: Contracts & Billing Create Transparency, Automate Progress
By connecting utility asset owners, attachers, and engineering and construction firms, Alden One helps to streamline and automate utility work processes to enable better communication inside and outside organizations. At the 2023 Alden Conference, Alden CEO John Sciarabba stated that “advancements in tech have led to changes in the way joint use agreements are managed, requiring the unprecedented need for coordination between stakeholders." Managing proactively allows companies to establish greater financial accountability and propel action.
But let’s face it. Joint use asset management comes with its own set of unique financial challenges: tracking payments through the lifecycle of a project, promptly generating invoices on work performed, and validating payment rates and statuses, just to name a few.
Let’s look at how Alden One’s powerful asset-management tools align and connect utility stakeholders around important accounting functions.
What is the value of Alden One’s Contracts & Billing Features?
Alden One serves as a centralized document repository for PDFs, photos, videos, spreadsheets, text documents, and more — storing contract terms and records in a way that’s both secure and conveniently accessible.
Having this “single source of truth” not only eliminates versioning issues but also enables many other benefits, such as:
- Increased transparency and insight into data
- Automating actions based on contract terms/attributes
- Easy access to documents for regulatory and compliance purposes
Storing contracts in Alden One gives you the clarity necessary to make information actionable. Store contract types, terms, and associated parties, as well as pertinent details such as annual increases, frequency, and billing months.
Alden One helps to automate the contract review process by sending notifications and reminders, requesting legally binding signatures, and triggering any annual escalators — along with tracking bonds and certificates of insurance. Alden One’s powerful features take the contract data you have and make it more useful, saving time and effort.
With these tools, you can:
- Track dollars throughout the customer lifecycle
- Utilize e-Payments to expedite permitting applications, make-ready, and rental fees
- Leverage e-Signatures to streamline applications, PLAs, MR estimates, bonds, and more
Alden One stores contract line items, rates, and application fees, annual rental costs, standard construction fees, and post make-ready inspection fees so users can derive even more benefits by making use of contract line items in other areas of the Alden One platform. For example, automatically apply contract agreement terms to permitting applications to reflect accurate, updated costs.
Leverage the Power of Alden One for Greater Accountability
Alden One brings accuracy and accountability for all parties involved in your joint use contracts, helping you gain financial transparency and propel projects to completion. Alden One is a web-based, cloud-based platform that supports asset management for all types of utility assets, including utility poles, conduit vaults, streetlights, cell towers, right-of-way, and more.
Through business process automation, Alden One saves time and brings clarity and control to joint use asset management. To learn more about the Contracts & Billing feature and other functionality available in Alden One, watch this short explainer video. Want to talk to sales? Schedule a 1:1 meeting. We are happy to help.